56 Grove Ave
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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 …
Description
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%.
Listing Details
| Price: | $$2,399,000 |
|---|---|
| Address: | 56 Grove Ave |
| City: | St Augustine |
| State: | Florida |
| Zip Code: | 32084 |
| MLS: | 237051 |
| Square Feet: | 3,257 |
| additionalMarketingYN: | no |
|---|---|
| addressSearchNumber: | 56 |
| area: | 03 |
| bankCorporateOwnedYN: | no |
| blueprintPlanYN: | yes |
| businessDescription: | Restraunt & Residential - Mixed Use |
| businessName: | N/A |
| cddYN: | no |
| gasYN: | yes |
| legalDescription: | KINGSLAND ADDN CITY LOT 30 OR5560/1279 |
| lotSize: | 50x252 |
| numFloors: | 2 |
| parcelId: | 194110-0000 |
| parking: | 16 |
| presentZoning: | CM-2 |
| restrooms: | 4 |
| saleRent: | For Sale |
| shortSaleYN: | no |
| sprinklerYN: | yes |
| statusCategoryMls: | Active |
| surveyYN: | yes |
| waterAccessYN: | no |
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