• Favorites
    • Sign up/Log in
    •  305-296-1400
    •  Email
    •  Locations

Commercial Real Estate in Key West & the Florida Keys by RE/MAXCommercial Real Estate in Key West & the Florida Keys by RE/MAX

  • Menu
  • Home
  • Commercial Search
    • Commercial Property Search
    • Our Commercial Properties
    • Newest Commercial on the Market
  • Property Types
    • Bars & Restaurants
    • Office Buildings
    • Marinas
    • Hotels/Motels/B & B’s
    • Investment Properties
    • Leasing
    • Industrial/Warehouses/Other
    • Business Opportunities
    • Multi-Unit
  • Selling Your Property
    • Commercial Property Valuation
    • Residential Property Valuation
  • Search by Area
    • Key Largo
    • Islamorada
    • Marathon
    • Big Pine Keys
    • Key West
    • Duval Street
  • Residential Search
  • About
    • About Us
    • Meet the Team
    • Client Reviews
  • Blog
  • Contact

Three Things To Consider When Renovating Commercial Property

Everyone loves the idea of buying an old place and fixing it up, particularly somewhere historic – and the potential for a enviable and successful business such as a hotel, bed and breakfast, movie theater, or old-time restaurant exists! People love history and culture, and they love to go to anywhere with a theme – whether it be the Victorian era, the happy 1950s, or even the 1980s – history is a natural interest of most people. Historical buildings are especially intriguing – who lived there? What did they do? Were they anyone famous? You should absolutely be excited about buying historical property, but you need to know a few things before you dive in.

Three Things To Consider When Renovating Commercial Property

  • The law
  • What actually happened there
  • The state of the building

First, it’s important to know many historical properties are protected by law. You can find this out by going to the courthouse and speaking to the clerks about the property you’re interested in. Protected properties can usually be bought and sold (unless they are federal or state property) but there may be very specific laws about what you can do with the property – such as, you cannot tear it down, only return it to what it once was (a hotel, or a saloon, etc.) You may need to hire an attorney to help you in the short term while you interpret the laws.

Secondly, you might want to research exactly what happened in history at the property you are purchasing. Most old buildings have a lot of stories to tell – that’s part of the intrigue! Some of the stories are extremely interesting – maybe natives inhabited the area, or the first European settlers settled there. Beware though, while most people are interested in war history, personal and gruesome murder history may keep people away (unless it is being advertised as a local haunt). The choice is yours, but it is wise to know exactly what has gone down on very historic property – because you can bet your guests will investigate.

Last but not least, consider the actual state of the building. Many things can be replaced and modernized such as plumbing and electricty (although it may be very expensive). If a building is actually crumbling and the foundation isn’t stable, however, no matter how historic it is, you may not be able to afford to renovate it. This would be the time to hire a contractor who works in historic renovation to give you an honest appraisal (and a second opinion wouldn’t hurt, either). It requires a lot of intellect and some courage to purchase historic property, and equally as much to know when something is beyond your scope.

 
In the meantime, check out these 1-click searches:

  • All Businesses for Sale
  • Office Buildings
  • Hotels, Motels & Bed & Breakfasts
  • Bars & Restaurants
  • Marinas for Sale in Key West
  • Investment Properties
  • Business Opportunities

Newest Key West Commercial Properties on the Market

Offices on Eaton Street located in downtown Key West. If you are looking for a small private office join the friendly business environment at Key West Theater catering to local small business owners. Office 215 is a corner office with a large open space and close, approximately 320sq.ft.  Wifi, electric and water included, sales tax is in addition to the monthly rent quoted. $1,400 Active

524 Eaton Street 215 KEY WEST, Florida

2 Baths

2nd Story lease space suitable for office/work shop/storage in a 9 unit compound on Stock Island. Large front room with built in cabinets, 2nd smaller room for storage, additional office space and a half bathroom. Secure fenced lot, an off street parking space and circular drive for truck delivery or pick up. Rent includes utilities. First, Last and Security (one month rent) will move you in. $1,745.79 Active

5625 2Nd Avenue UP Stock Island, Florida

6,219 SqFt

Retail Space available in one of Key West's three major power centers. Overseas Market boasts one of the most desirable tenant bases on the island with Winn-Dixie, Denny's, Ross, CVS Drugstores, Verizon, GNC, Goldman's Deli, BodyZone, AutoZone, Five Guys, Dominos and more... There is ample parking & traffic light entry into the shopping center. Monthly rent quoted is Base Rent Only, in addition are triple net charges and sales tax. $4,083.33 Active

2730 Roosevelt Boulevard N KEY WEST, Florida

1 Baths 178,707 SqFt

Commercial Space Directly in the Middle of Gulfside Village. Triple Net Long Term Lease with existing Verizon Wireless tenants. Excellent Visibility! Excellent Rental History! Gulfside Village offers ample parking spaces, clean shopping center and friendly retail owners. Unit 21 has 1,860 sq feet of space, half bathroom and large storage/office area in the back of the store. Please DO NOT DISTURB the existing tenants/company. $600,000 Active

5800 Overseas Highway 21 MARATHON, Florida

1 Baths 1,860 SqFt

View ALL

Posted in: Bed & Breakfasts, Business Solutions, Buyers, Buying Commercial Real Estate, Environmental Concerns For Businesses, Hospitality Businesses, Lodging, Restaurants Tagged: buying historic commercial property, how to buy historic commercial property, renovating historic commercial property

About Curtis A. Skomp, CCIM

Subscribe to our mailing list

* indicates required



Primary Interest *

Describe Yourself *


Post navigation

« Three Reasons To Hire A Property Management Company
Three Must-Sees In The Florida Keys »

Key West Office

RE/MAX ALL KEYS REAL ESTATE
305-296-1400 Office

Business Address:
517 Duval St Suite 200, Key West, FL 33040

View RE/MAX All Keys Real Estate Key West location on Google

Key Largo Office

RE/MAX ALL KEYS REAL ESTATE
305-451-0060 Office

Business Address:
98880 Overseas Hwy, Key Largo, FL 33037

View RE/MAX All Keys Real Estate Key Largo location on Google

Miami Office

RE/MAX Advance Realty
305-444-7111 Office

Business Address:
11010 SW 88th St. Ste. 200, Miami, FL 33176

View RE/MAX Advance Realty South Miami location on Google

© 2023 · Curtis A. Skomp, CCIM · 305-304-0084 · Sitemap · IDX Sitemap · IDX XML Sitemap · Commercial Properties Key West FL
Disclaimer - All Rights Reserved by RE/MAX Commercial

Licensed in Florida | Key West FL Commercial Real Estate

AREAS WE COVER:

33040, 33043, 33042, 33050, 33036, 33037
Key West, Stock Island, Big Pine Keys, Marathon, Islamorada, Key Largo

Log in · Agent Center Page · Real Estate Website by Real Estate Websites by YourSiteNeedsMe.com