1421 First Street, Key West, FL 33040

$1,250,000
Property Type: Commercial Sale Baths: 1 Lot Size (sq. ft.): 2,405 Status: Active
Current Price: $1,250,000 List Date: 6/17/2026 Last Modified: 6/17/2026

Description

Rare opportunity to own two adjoining commercial condominium units on First Street, offered together as a single income-producing package in a central Key West location. Unit 3 consists of 233 SF and is fully leased, providing immediate income and strong in-place cash flow. The space is enhanced by a custom patio and tiki area. Unit 2 offers 1,160 SF of office space with five private offices and a restroom, making it ideal for an owner-user, professional office, or an investor seeking additional rental income. Whether you're looking for an investment, owner-user opportunity, or both, this versatile property offers flexibility and income in one of Key West's most accessible commercial corridors.

More Information MLS# 620301

Contract Information

Current Price: $1,250,000 Listing Date: 2026-06-17 Listing Board: Key West Association List Price: $1,250,000 Limited Representation: No Potential Short Sale: No Bank Owned: No

Location Tax Legal

Street #: 1421 Street Name: First Street Suffix: Street Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: New Town - Unlisted (2.0) County: Monroe Area: 03 - Key West

General Property Description

Realtor.COM Type: Commercial Style: Commercial Lot Size: Irregular Lot SqFt: 2405 Waterfront: No Building SqFt: 1393 SqFt Source: Property Data Card Year Built: 1948 Half Baths: 1 Total Baths: 1

Status Change Info

Status: Active

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No

Financial Status

Bank Owned: No Potential Short Sale: No

Property Features

Type: Office Buildings; Retail; Other Services Waterfront: None Waterview: No Waterview Dockage: None Utilities: FKAA Construction: CBS Land Size: Less Than 1/4 Acre Fee Includes: Other
Listing Office: Berkshire Hathaway HomeServices Knight & Gardner Realty
Last Updated: June - 17 - 2026
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