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Beach Properties Real Estate Group, LLC

[email protected] +1(850) 227-2500

$ 1,650,000

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

3 Beds

2 Baths

2,080 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,080 sqft

Price per Sqft $793

Subdivision Gulf Beaches Units 1-5

MLS Listing ID 322058

Bedrooms 3

Full Baths 2

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 $2,600 annually.

Location

State FL

Zoning Mixed Use

Interior

Interior Features Breakfast Bar, Recessed Lighting, Lock Out Closet, Renovated

Heating Central Electric

Cooling Central Electric

Fireplace No

Appliance Dryer, Washer, Cooktop, Dishwasher, Exhaust Fan, Microwave, Range Hood, Refrigerator w/Ice Maker, Electric Oven, Electric Water Heater

Laundry Washer/Dryer Hookup

Exterior

Parking Features Driveway

Garage Spaces 12.0

Pool None

Utilities Available Cable Connected, Electricity Connected, Internet Available, Water Connected, Private Trash

View Y/N true

View Gulf, Water

Roof Type Shingle

Garage No

Building

Lot Description Corner Lot, Within 1/2 Mile of Water, Improved Lot

Story 2

Foundation Slab

Sewer Aerobic Septic

Level or Stories 2

Others

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Listed by St George Island Realty, Llc

Beach Properties Real Estate Group, LLC

+1(850) 227-2500

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Port St Joe, FL

Beach Properties Real Estate Group, LLC

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

Key Details

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