Exceptional Investment Opportunity
402 Appelrouth Lane – Old Town, Key West
Located in the heart of Old Town Key West and just steps from the famed Duval Street, 402 Appelrouth Lane offers a rare investment opportunity in a premier X-Flood Zone location. This mixed-use property delivers income potential from both residential and commercial units, positioning it as a versatile asset in one of America's most sought-after markets.
With over 5,000 square feet of interior space, this iconic structure showcases tall ceilings, historic architectural character, and custom artistic details that give it authentic Old Town charm. The property embodies the essence of Key West's legendary appeal while offering modern investment upside.
Appelrouth Lane is known for strong foot traffic, established neighboring businesses, and a desirable central location—just minutes from world-class restaurants, art galleries, boutique shopping, and Key West's legendary nightlife scene. Opportunities like this are exceptionally rare in today's competitive market.
Property Highlights
Prime Old Town Location
Just steps from Duval Street in the heart of Key West's most desirable neighborhood, where foot traffic and property values remain consistently strong.
Mixed-Use Versatility
Commercial and residential zoning offers flexible income streams and investment strategies, allowing you to maximize returns through multiple revenue channels.
Substantial Square Footage
Over 5,000 square feet of interior space with tall ceilings, historic character, and custom artistic details that command premium rents and valuations.
X Flood Zone Advantage
Located in an X Flood Zone, significantly reducing insurance costs and flood risk concerns—a major competitive advantage in the Florida Keys market.
Iconic Architecture
This landmark structure blends authentic Key West character with solid investment fundamentals, attracting quality tenants and maintaining strong asset value.
Lifestyle Access
Minutes to dining, galleries, entertainment, and waterfront activities—everything that makes Key West one of America's most desirable destinations.
Key West Real Estate Market Snapshot
Understanding current market dynamics provides essential context for the exceptional opportunity at 402 Appelrouth Lane. Key West continues to demonstrate strong fundamentals and appreciation potential.
$950K
Median Residential Price
12-month median for residential properties demonstrates sustained premium valuations in the Key West market
$1.19M
September 2025 Median
Recent median sale price representing approximately 40.8% year-over-year appreciation
$1.1M
June 2025 Median
Median sold price showing 7.1% increase from prior year, indicating consistent upward trajectory
What This Means for Investors
The Key West market remains highly desirable and commands premium valuations, especially in Old Town and for mixed-use opportunities with commercial and residential flexibility. While inventory levels have created a more measured pace compared to the frenetic buying environment of recent years, this works in favor of savvy buyers who can conduct thorough due diligence.
Properties combining both commercial and residential potential in top locations like Appelrouth Lane represent exceptional scarcity value. The longer days-on-market environment allows sophisticated investors to negotiate from a position of strength while securing assets with proven appreciation potential.
With continued upward momentum in valuations and limited supply of mixed-use properties in X Flood Zones, the fundamentals strongly support strategic acquisitions in this market segment.
Your Trusted Partners
The Key West Sisters – Preferred Properties Key West
When you're considering an investment of this caliber in one of America's most unique markets, partnership with seasoned local experts is essential. Angela McChesney and Jenny Perry—known throughout the Keys as the Key West Sisters—bring unparalleled expertise in Old Town investment properties, historic structures, and mixed-use opportunities.
Working with the Key West Sisters through Preferred Properties Key West means leveraging deep market insight, intimate knowledge of zoning regulations, flood zone considerations, and a professional network that spans the entire island. Their track record speaks for itself—they've guided high-net-worth investors and commercial buyers through complex transactions, consistently delivering exceptional outcomes.
Client Testimonials
"Angela and Jenny made our Key West investment seamless—their knowledge of the Old Town zoning and flood-zone issues gave us confidence from day one. They understood exactly what we were looking for and delivered a property that exceeded our expectations."— Satisfied Investor, Commercial Real Estate Portfolio
"Working with the Key West Sisters was a game-changer. They spotted value we'd overlooked and helped structure a deal that performed beautifully. Their local expertise and professional approach made all the difference in our investment success."— Commercial Property Buyer, Multi-Unit Owner
Local Market Expertise
Deep understanding of Old Town dynamics, zoning regulations, and investment strategies specific to Key West's unique market conditions
Extensive Network
Established relationships with lenders, inspectors, contractors, and municipal offices streamline every transaction
Investment Focus
Specialized experience in mixed-use properties, income analysis, and structuring deals that maximize returns
Why This Property Stands Out
Exceptional Rarity
Mixed-use properties of this size, in Old Town Key West and situated in an X Flood Zone, are extraordinarily rare. This combination represents less than 1% of available inventory in the market.
Location Supremacy
High foot traffic, landmark architecture, and immediate proximity to Duval Street create sustainable competitive advantages that protect and enhance property values over time.
Income Versatility
The combination of commercial and residential income-producing potential means you're acquiring multiple revenue streams and strategic flexibility to adapt to market conditions.
Lifestyle Asset
This is more than real estate—you're acquiring a lifestyle asset with proven upside in one of America's most desirable and protected markets.
Investment Logic
With current market fundamentals showing sustained appreciation, limited inventory of comparable properties, and the structural advantages of X Flood Zone designation, 402 Appelrouth Lane represents an outstanding intersection of location, character, and investment logic.
The caliber of the listing team—Angela McChesney and Jenny Perry of the Key West Sisters—ensures you'll have expert guidance through every phase of evaluation, negotiation, and closing.
Next Steps
If you'd like a detailed investment analysis, complete floor plans, historic income data, or to schedule a private showing, please get in touch with Angela McChesney or Jenny Perry at Preferred Properties Key West.
This opportunity won't last long. Properties of this caliber in Old Town Key West are acquired quickly by sophisticated investors who recognize exceptional value.
Schedule Your Private Showing
Angela McChesney
The Key West Sisters
Preferred Properties Key West
Contact today for detailed investment analysis and private showings
Jenny Perry
The Key West Sisters
Preferred Properties Key West
Expert guidance through every phase of your Key West investment
