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: | 1256759 |
| Year Built: | 1917 |
| Lot Square Feet: | 0 acres |
| BuildingAreaTotal: | 3257 |
|---|---|
| attachedGarageYN: | no |
| cityRegion: | 32-ST JOHNS COUNTY-ST AUGUSTINE AREA-E OF US-1 |
| compensationDisclaimer: | The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements. |
| country: | US |
| developmentStatus: | Recorded Plat |
| developmentStatusRecordedPlat2: | 1 |
| directions: | Head north on S Ponce De Leon Blvd toward W King St Turn right onto Grove Ave Destination will be on the left |
| disclosures: | Survey on File, Photos on File, Floor Plans on File |
| documentsOnFileFloorPlansOnFile: | 1 |
| documentsOnFilePhotosOnFile: | 1 |
| documentsOnFileSurveyOnFile: | 1 |
| exportOptionsPublishAddress3: | 1 |
| hvacCentral: | 1 |
| listingInformationCategory: | Commercial |
| listingInformationCompSingleAgent: | 2 |
| listingInformationCompToNonRep: | 2 |
| listingInformationCompTransBroker: | 2 |
| listingInformationRealtorcomType2: | Commercial |
| listingInformationRegion: | 32-ST JOHNS COUNTY-ST AUGUSTINE AREA-E OF US-1 |
| locationSchoolTaxesCountry3: | USA |
| locationSchoolTaxesLegalDescription: | KINGSLAND ADDN CITY LOT 30 OR5560/1279 |
| lotDescriptionviewRegularLot2: | 1 |
| lotFeatures: | Downtown, Historic Area |
| lotLocationDowntown: | 1 |
| lotLocationHistoricArea3: | 1 |
| mlsAreaMajor: | 322-DOWNTOWN ST AUGUSTINE |
| mlsAreaMinor: | 322-DOWNTOWN ST AUGUSTINE |
| mlsStatus: | Active |
| occupancyTenantOccupied: | 1 |
| parkingFacilitiesGuestParking: | 1 |
| parkingFacilitiesNoCoveredParking: | 1 |
| parkingFeatures: | No Covered Parking, Guest Parking |
| possession: | Tenant Occupied |
| presentUsezonedCommercial2: | 1 |
| propertyDescriptionCurrentZoning: | CM-2 |
| propertyDescriptionNavgbleToOceanYN: | no |
| propertyDescriptionTotalBldgSqft: | 3257 |
| propertyDescriptionType: | Business Opportunity |
| propertyDescriptionWaterfrontYN: | no |
| roadSurfaceAsphaltRoad: | 1 |
| roadSurfaceType: | Asphalt |
| squareFootSourceTaxRoll: | 1 |
| typepotentialUseCommercial4: | 1 |
| utilities: | Water - Public, Sewer - Public |
| utilitiesSewerPublic: | 1 |
| utilitiesWaterPublic: | 1 |
| waterfrontYN: | no |
| zoningDescription: | 1 |
Photos
