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

$1,549,000


3

Beds


2

Baths


4,140

Sq Ft


Condo


Virtual Tour

Active

Listed by

Blalock - Gill Team

St George Island Realty, LLC.

Last updated:

October 15, 2025, 03:52 PM

MLS#

324170

Source:

FL RAFGC

About This Home

163 E Gulf Beach Dr

Looking for a property that offers both steady income and the charm of coastal living? This well-maintained mixed-use building delivers on both fronts. The ground floor features approximately 2,070 sq. ft. of commercial space, currently leased to a long-standing SUBWAY restaurant that has operated here since 2005. With a $5,000/month triple net (NNN) lease, the tenant covers taxes, insurance, and maintenance—making this a true turnkey investment with minimal owner responsibility. This is one of the lowest, remodeled price per square foot properties on the island. Upstairs, the residence mirrors the commercial footprint with another 2,070 sq. ft. of living space. Highlights include two spacious living areas, a beautiful great room, three generously sized bedrooms, and two full baths. One of the largest condo-style units on the island, it's currently a successful short-term rental on VRBO and Airbnb, generating $68,553 in Gross Rental Income (GRI) for 2024. Recent upgrades include a new roof (permitted and installed in 2023 by Lloyd's Roofing of Tallahassee), a new HVAC system (2021), new Hardie siding on sides of exterior, and regular structural and septic maintenance. Flood insurance is assumable at an affordable $3,541 per year. This rare opportunity provides dual income streams in one desirable package. For added flexibility, the commercial space may also be purchased separately. MLS #323922

Home Facts

Condo

2 Baths

3 Bedrooms

Built in 2001

Price Summary

1,549,000

$374 per Sq. Ft.

MLS #:

324170

Last Updated:

October 15, 2025, 03:52 PM


Rooms & Interior

Bedrooms

Total Bedrooms:

3

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

4,140 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:

$1,549,000

Price per Sq. Ft:

$374 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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