163 E Gulf Beach Dr, St. George Island, FL 32328
sale
$1,399,000
|
Other
Courtesy Of ST. GEORGE ISLAND REALTY
Looking for a property that offers both steady income and the charm of coastal living? This well-maintained mixed-use building delivers on both fronts. The ground floor features approximately 2,070 sq. ft. of commercial space, currently leased to a long-standing SUBWAY restaurant that has operated here since 2005. With a $4,500/month triple net (NNN) lease, the tenant covers taxes, insurance, and maintenance making this a true turnkey investment with minimal owner responsibility. This is one of the lowest, remodeled price per square foot properties on the island. Upstairs, the residence mirrors the commercial footprint with another 2,070 sq. ft. of living space. Highlights include two spacious living areas, a beautiful great room, three generously sized bedrooms, and two full baths. One of the largest condo-style units on the island, it's currently a successful short-term rental on VRBO and Airbnb, generating $68,553 in Gross Rental Income (GRI) for 2024. Recent upgrades include a new roof (permitted and installed in 2023 by Lloyd's Roofing of Tallahassee), a new HVAC system (2021), new Hardie siding on sides of exterior, and regular structural and septic maintenance. Flood insurance is assumable at an affordable $3,541 per year. This rare opportunity provides dual income streams in one desirable package. For added flexibility, the commercial space may also be purchased separately. MLS #323922
Read More About This Property
Read Less About This Property
Copyright © 2025 Forgotten Coast Realtor Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Virtual Tour
Property Features
- Age: 21-30 Years Old
- Amenities: Ceiling Fan
- Architecture Style: Other
- Cooling System: Heat Pump
- Cooling System: Ceiling Fan(s)
- Cooling System: Electric
- Cooling System: Central Air
- Exterior Type: Frame
- Exterior Type: Vinyl Siding
- Floor Covering: Tile
- Heating System: Electric (Heating)
- Heating System: Ceiling
- MLSID: 324166
- Roof Type: Asphalt
- Roof Type: Shingle
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$1,640,000
Other
275 Hwy 98
Eastpoint, FL 32328
Land: 1.68 Acres
Courtesy Of Berkshire Hathaway Home Services - SGI
sale
$1,450,000
Other
1041 Hwy 98
Eastpoint, FL 32328
Land: 13 Acres
Courtesy Of Berkshire Hathaway Home Services - SGI
sale
$1,100,000
Other
123 W Gulf Beach Dr
St. George Island, FL 32328
Building: 2,842 sq. ft.
|
Land: 0.15 Acres
Courtesy Of Gold Palm Real Estate Co.