330 Julia Street - Short Sale - Investment Property - Key West

The Old Stone Church located at the corner of Whitehead Street and Julia Street (330 Julia Street) is offered for sale as a Short Sale at the asking price of $899,000 or $184 per sq ft. The property is no longer used as a church but instead has been converted into a unique mix of commercial space and three residential apartments.

330 Julia Street - 1965

Author J. Willis Burke writes in his book THE STREETS OF KEY WEST the  AME Zion Church at 704 Whitehead Street (same location, just a different address attributed) was established by freed slaves in 1865 and was originally called the First African Methodist Church. Burke says the current building dates from 1894 but records show it was built in 1900. Later it was called the Stephens AME Zion Church. The property was renovated after 1993 and converted at that time into the present usage.

The building today has a total of 4849 sq ft of interior space which is divided between the commercial space that now houses a gallery and offices plus the three residential apartments. Among the features of this beautiful building are Dade County Pine ceilings and original beams, stained glass windows, hardwood, tile and carpeted flooring, and central air conditioning. Two of the apartments are two bedrooms (each split with a second bedroom on the second floor) and a one bedroom apartment. The commercial space has central air conditioning and the apartments have individual units. The commercial and residential spaces also have individual electric service. This property provides and excellent opportunity for a buyer looking for commercial property located in a prime area of Key West and that offers supplemental income. CLICK HERE to view a slide show of photos I took of this amazing property.

I recently showed this property and think it would make a wonderful investment opportunity for an owner/user who would use the commercial space in a manner as presently used (gallery and/or offices). The building is located just five blocks from the Monroe County Courthouse. The present office configuration appeared to be in very good condition. The location would surely attract lots foot traffic as it is located one block south of the Hemingway House and just a couple of blocks from the Southernmost Point. Tourists from all over the world walk the trek past this location daily.


I was able to see the inside of both two bedroom units. One needs a fresh coat of paint and some TLC, the other looked great.  All three units rent at market rates so they should provide good cash flow to an investor.  The apartment licenses may have been suspended by the City of Key West due to non-payment of sewer bills. A new owner will need to apply to the City for restoration of the licenses.

This property will not stay on the active short sale market for very long, especially at the asking price.  I urge serious buyers to contact me, Gary Thomas, 305-766-2642 to schedule a showing. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc.  Let me help you find your place in Key West.    

Bank Owned - Office Building - Key West

Just listed, but not by me, a Bank Owned Office Building located at the very entrance to Old Town Key West. The listing agent describes the property this way:

"Bank Owned Property priced to sell! First Building to be seen from US Hwy 1 driving West into Old Town Key West. Highly visible office building with parking on Truman Ave (US Hwy 1). Property was renovated in 2002. Reception, private offices, kitchen area, ADA compliant bathrooms."

1511 Truman Avenue is located at the intersection of Eisenhower Drive and Truman Avenue. Bayview Park (Key West's main city park) is located across the street. While the building has four parking spaces, there is abundant on street parking across the street which could me most helpful for a busy office or retail location. Patients, clients or customers could use park facilities while waiting to see doctor, business professional, or whoever. If the interior partition walls were removed, this would be an excellent building and location for a gym. The view from the inside looking toward the park should make working there a joy.

Abundant on street parking across the street

The listing agent says the building has 3354 sq ft of interior space that sits on a 101' x 42' lot (3963 sq ft lot-numbers taken directly from Property Appraiser's website).

The reception area is exceptional. Any business professional would love to have a reception area like this. No renovation money needed here. There are several existing offices and meeting rooms that could work well for many business types without requiring much remodeling. There is one very large uni-sex bathroom; somebody should have thought better about that! CLICK HERE to view lots of photos I took of the building just a couple of weeks ago when it was tenant occupied.

Reception area looks out toward Bayview Park across the street

Even though this building was remodeled only a few years ago, it has two problems that a buyer should consider. First, there are several noticeable stains in ceiling tiles which indicates the roof has problems. I noticed one huge problem in a conference room. (See photo below.) Second, there is a bit a spauling on the outside. That is a common occurrence in poured concrete buildings in Key West. A building inspector can advise a potential buyer as whether this warrants concern. A new owner might want to tone down the exterior paint colors, but otherwise, this is a very attractive office building. There is lots of space and abundant daylight.

Conference room leak

Minor spauling

1511 Truman Avenue is a Bank Owned property that is priced to sell at $574,500 or $171 per sq ft. This is a property definitely worth looking at quickly. Please call me, Gary Thomas, 305-766-2642 to arrange your showing. I am a buyer's agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West.

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