Active

56 GROVE AVE

ST AUGUSTINE FL, 32084

$2,399,000


$736.57 per sqft

Active

3,257 sqft

Commercial

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%.

1256759

MLS ID

November 8, 2023

Listed

May 9, 2024

Updated

Map

56 GROVE AVE
ST AUGUSTINE FL, 32084

Other Property Details

Area Name

322-DOWNTOWN ST AUGUSTINE


Garage

No


Parking

No Covered Parking, Guest Parking


View

No


County

ST. JOHNS


Pool

No


Buyer Agency Compensation

2%

Courtesy of GREAT EXPECTATIONS REALTY

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Data last updated 11:12 AM UTC, 5/9/2024

 

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