It was built around 1885 for Richard Peacon (1840-1914), who was the owner of Key West's leading grocery store located at 800 Fleming Street and who later became a founding director of the Island City National Bank.

[6] In 2000, it was featured in the book, Key West Gardens and Their Stories.

In 2006, the Peacon family's Bahamian connection and 712 Eaton Street were mentioned in Preserving Paradise: The Architectural Heritage of the Florida Keys.

[8] The Peacon House is one of many contributing properties in the Key West Historic District.

It is also featured on a walking tour of historic Key West and its cemeteries.