52
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$1,850,000
Est. payment /mo
2 Baths
0.29 Acres Lot
Price Dropped by $100K
56 Grove Avenue St Augustine, FL 32084
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Key Details
Property Type Commercial
Sub Type Special Purpose
Listing Status Active
Purchase Type For Sale
MLS Listing ID 255190
Full Baths 2
HOA Y/N No
Annual Tax Amount $19,322
Tax Year 2024
Lot Size 0.290 Acres
Acres 0.29
Property Sub-Type Special Purpose
Property Description
Commercial and residential mixed-use property in a prime downtown location in Florida's premier historic destination. This extensively upgraded property is made up of two buildings. One building, circa 1920, consists of a ground-floor commercial space currently used as a restaurant, with two residential apartments upstairs. The upstairs units have separate entrances and parking and are currently occupied with long-term tenants. The Highest and Best Use to maximize rental income could be a conversion to one or two short-term rentals. The proximity and walkability to the Historic area of St. Augustine make this a highly desirable option. The commercial tenant is in a long-term lease and has a reputation as one of the finest restaurants in North Florida! In addition, there is a separate, stand-alone cottage circa 1917, with a long-term tenant. The buildings have strong demand due to the excellent location and on-site parking. Tremendous opportunity to generate stable rental income.
Location
State FL
County St. Johns
Area 04
Zoning CM-2
Location Details Business District,City Limits
Interior
Interior Features Fire Sprinkler System
Exterior
Exterior Feature Onsite Parking, Pole Sign
Water Access Desc No
Building
Story 2
Water City
Level or Stories 2
Structure Type Wood
Listed by One Sotheby's Int (A1A Beach)
Schools and Properties Nearby
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