St. George Island, FL Home For Sale
Property Type:
Residential / Condominium
Price: $1,399,000
Status:
Active
Days on Website:
71
Bedrooms: 3
Baths: 2 Full
Sqft: 4,140
Lot Size: 50 x 135
Year Built: 2001
Subdivision: Gulf Beaches Units 1-5
Address:
163 E Gulf Beach Dr
Area:
St. George Island,
FL
MLS #:
324170
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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 $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
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Features for 163 E Gulf Beach Dr, St. George Island:
Listing courtesy of St George Island Realty, Llc
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Map and related homes for sale:
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