Description
Mixed use property in a prime downtown location in Florida's premier historic destination. This extensively upgraded property is made up of two buildings. One building, circa 1920, consists of a ground floor commercial space currently used as a restaurant, with two residential apartments upstairs. The upstairs units have separate entrances and parking and are currently occupied with long term tenants. The highest and best use to maximize rental income could be a conversion to one or two short term rentals. The proximity and walkability to the historic area of Saint Augustine make this a highly desirable option. The commercial tenant is in a long term lease and has a reputation as one of the finest restaurants in north Florida. In addition, there is a separate, stand alone cottage circa 1917, with a long term tenant. The buildings have strong demand due to the excellent location and on site parking. Tremendous opportunity to generate stable rental income.
