Prime Key West property sells for $5.8 million

by Patrick Regan

A two-story commercial and residential property on Key West’s famed Duval Street recently sold for $5.8 million after 835 days on the market. 

The building at 824-826 Duval St. is 5,200 square feet, featuring two commercial units and six one-bedroom apartments for overnight and weekly rental. The property includes a pool and off-street parking and sits in Key West’s bustling historic district.

A lighting company and a cannabis dispensary occupy the two commercial units. 

RE/MAX Advance Realty/All Keys agents Curtis Skomp, Greg Dully and Michael Petro represented the buyer and brokered the transaction.

“We were delighted to secure this rare trophy property for our client on world-famous Duval Street, after more than a year searching throughout the Florida Keys for the right investment opportunity,” Skomp said in a news release. “Purchased through a 1031 exchange, the buyer was especially pleased that we were able to negotiate the property’s final cost down from its original asking price of $6.5 million.” 

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