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Debbie Kirkland

[email protected] +1(850) 212-0440

$ 1,599,000

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Price Dropped by $51K

163 E Gulf Beach Dr St. George Island, FL 32328

4,140 SqFt

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 4,140 sqft

Price per Sqft $386

Subdivision Gulf Beaches Units 1-5

MLS Listing ID 322060

HOA Y/N false

Year Built 2001

Annual Tax Amount $4,249

Tax Year 4249

Lot Size 6,751 Sqft

Lot Dimensions 6750

Property Description

Looking for a strong investment opportunity with the added bonus of island living? This well-maintained mixed-use property offers both a stable commercial tenant and a spacious private residence—all in one. The ground floor is home to a long-standing SUBWAY restaurant, operating here since 2005 and committed to staying long-term. With approximately 2,070 square feet of commercial space and a current lease of $5,000/month. This is a turnkey income-generating asset. The current commercial lease is a triple net (NNN) lease, meaning the tenant is responsible for property taxes, insurance, and maintenance—offering minimal owner responsibility. Upstairs, the second floor mirrors the size of the commercial space, offering approximately 2,070 square feet of residential living. The residence includes two large living areas, a beautiful great room, three generously sized bedrooms, and two full bathrooms. It's one of the largest condo-style units on the island, and zoning permits both residential and commercial use. The residential space is currently operating as a short-term rental on VRBO and Airbnb. Gross Rental Income (GRI) for 2024 was $65,000, adding another layer of income potential to the property. The building has been well cared for, with a new roof installed and permitted in 2023 by Lloyd's Roofing of Tallahassee, a new HVAC system added around 2021, and regular maintenance of both the structure and septic system. Flood insurance is assumable at an affordable rate of just $3,046 annually.

Location

State FL

Zoning Business,Commercial,Mixed Use,Residential Single Family

Interior

Heating Ceiling Electric, HVAC

Cooling Central Electric, Ceiling Fan(s), Heat Pump, HVAC, Multi Units

Flooring Tile

Inclusions Negotiable

Window Features Display Window(s)

Exterior

Utilities Available Electricity Connected, Internet Available, Water Connected

Roof Type Asphalt,Shingle

Building

Sewer Aerobic Septic

Others

Virtual Tour https://tour.usamls.net/163-E-Gulf-Beach-Dr-St-George-Island-FL-32328--322060/unbranded

Listed by St George Island Realty, Llc

Debbie Kirkland

Broker | License ID: BK3052075

+1(850) 212-0440

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Tallahassee, FL

Debbie Kirkland

163 E Gulf Beach Dr St. George Island, FL 32328

Key Details

Location

Interior

Exterior

Building

Others

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163 E Gulf Beach Dr