Active
56 GROVE Avenue
St Augustine FL, 32084
$2,299,000
$705.86 per sqft
Active
3,257 sqft
Multi-family
Built in 1917
This unique mixed use investment opportunity includes 4 separate income producing units in the heart of St. Augustine. This property sits just off US 1 and has visibility from the busy highway. The building has recently undergone significant upgrades & been remodeled with a restaurant on the first floor, 2 residential 1BR Apartments upstairs, and a separate 2 BR/ 1 BA residential cottage sitting on .28 Acres. The restaurant has a long term tenant in place, the two upstairs units are occupied with annual leases, and the cottage was being utilized as a short term rental but recently converted to full time tenant. Zoned CM-2 this property has so many options. Financials & Lease Terms available with an NDA. Current Cap Rate is 4.32%.
1256846
MLSⓇ ID
November 9, 2023
Listed
March 21, 2024
Updated
Map
56 GROVE Avenue
St Augustine FL, 32084
Interior Features
Total Stories
2
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Features
Irregular Lot
Other Property Details
Area Name
322-Downtown St Augustine
Garage
No
View
No
County
St. Johns
Pool
No
Buyer Agency Compensation
2%
Courtesy of GREAT EXPECTATIONS REALTY
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Data last updated 6:05 PM UTC, 3/21/2024