USAFLSaint George IslandNo Named Subdivision163 E Gulf Beach Dr
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$1,599,000

163 E Gulf Beach Dr, Saint George Island, FL

Condo

For Sale

$--,---,---
3212
  • Key Facts
  • Description
  • Map

Key Facts

Type Condominium
Levels Residential
Size 4140 sqft
Garage No
HOA Fees 
Taxes $4,249
Days Active 1
Approx. Age 2001
Avg. Price Per Sqft $386
MLS® Number 324170

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

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 $5, 000/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 #323922Show Description
MLS® Number324170
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelWasher/Dryer Hookup
Exposure
Exterior
GarageNo
Approx. Age2001
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatCentral Electric
A/CCentral Electric
Heating Fuel

Extras

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