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

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For Sale

$1,549,000

3 beds • 2 baths • 4,140 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Condominium
    Property type

  • $374.15
    Price per square foot

  • 21-30 Years Old
    Age

Explore this Property

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 #323922
MLS# 324170

Courtesy Of ST. GEORGE ISLAND REALTY

(850) 927-4777

Property Features

  • Age
    21-30 Years Old
  • Amenities
    Security System, Security System
  • Appliances
    Cooktop, Dishwasher, Dryer, Ice Maker, Microwave, Range, Refrigerator, Washer
  • Architecture Style
    Other
  • Exterior Type
    Vinyl Siding
  • Lot Size
    0.15 Acres

Map and Directions

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

Home seller CENTURY 21 Collins Realty, Inc.

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Collins Realty, Inc.

(850) 927-3100
Learn More About Us

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Monthly Payment Breakdown

  • Principle and Interest
    $0
  • Property Taxes
    $0
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.