Versatile commercial opportunity located within the city limits of St. Augustine, featuring CL-1 zoning that allows for a wide range of residential and business uses. This flexibility makes the property ideal for investors, owner-operators, or those seeking multiple income streams. Situated on a fully fenced 0.4-acre parcel with over 100 feet of frontage along Masters Drive, the property blends historic character with functional commercial infrastructure. The site includes a late-1800s Florida-style home offering approximately 1,343 square feet of heated and cooled space. Interior features include original heart pine flooring, spacious rooms with high ceilings, solid wood walls and ceilings, and multiple flex spaces suitable for bedrooms, offices, or work areas. The home has been thoughtfully updated with a new 5V crimp metal roof, 200-amp electrical service, central HVAC, updated PVC plumbing, an on-demand gas water heater, and a monitored alarm system.