Pronunciation: (wôk'doun"), [key]
a store, living quarters, etc., located below the street level and approached by a flight of steps: It was a dimly lit walk-down optimistically called a garden apartment.
(of a store, restaurant, apartment, etc.) located below the level of the sidewalk: a popular walk-down nightclub in Greenwich Village.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.