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163 E Gulf Beach Dr, 
St. George Island, FL 32328

$1,599,000


3

Beds


2

Baths


2,080

Sq Ft


Single Family


Virtual Tour

Active

Listed by

Blalock - Gill Team

St George Island Realty, LLC.

Last updated:

July 5, 2025, 02:53 PM

MLS#

322058

Source:

FL RAFGC

About This Home

163 E Gulf Beach Dr

Looking for a strong investment opportunity with the added bonus of island living? This well-maintained mixed-use property offers both a stable commercial tenant and a spacious private residence-all in one. The ground floor is home to a long-standing SUBWAY restaurant, operating here since 2005 and committed to staying long-term. With approximately 2,070 square feet of commercial space and a current lease of $5,000/month. This is a turnkey income-generating asset. The current commercial lease is a triple net (NNN) lease, meaning the tenant is responsible for property taxes, insurance, and maintenance—offering minimal owner responsibility. Upstairs, the second floor mirrors the size of the commercial space, offering approximately 2,070 square feet of residential living. The residence includes two large living areas, a beautiful great room, three generously sized bedrooms, and two full bathrooms. It's one of the largest condo-style units on the island, and zoning permits both residential and commercial use. The residential space is currently operating as a short-term rental on VRBO and Airbnb. Gross Rental Income (GRI) for 2024 was $65,000, adding another layer of income potential to the property. The building has been well cared for, with a new roof installed and permitted in 2023 by Lloyd's Roofing of Tallahassee, a new HVAC system added around 2021, and regular maintenance of both the structure and septic system. Flood insurance is assumable at an affordable rate of just $2,600 annually.

Home Facts

Single Family

2 Baths

3 Bedrooms

Built in 2001

Price Summary

1,599,000

$768 per Sq. Ft.

MLS #:

322058

Last Updated:

July 5, 2025, 02:53 PM


Rooms & Interior

Bedrooms

Total Bedrooms:

3

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

2,080 Sq. Ft.


Structure

Structure

Architectural Style:

2+ Story

Building Area:

4,140 Sq. Ft.

Year Built:

2001


Lot

Lot Size (Sq. Ft):

6,534


Finances & Disclosures

Finances

Price:

$1,599,000

Price per Sq. Ft:

$768 per Sq. Ft.

Source:FL RAFGC
The data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX logo."GLVAR MLS deems information reliable but not guaranteed." Copyright 2025 of the Greater Las Vegas Association of REALTORS®MLS. All rights reserved. 2025

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