REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,950,000
Est. payment /mo
Active
56 Grove Avenue St Augustine, FL 32084
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Kingsland Addition
MLS Listing ID 255873
HOA Y/N No
Property Sub-Type Triplex
Property Description
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
Listed by One Sotheby's Int (A1A Beach)