Address
163 E Gulf Beach Drive St George Islan, FL
Price
$ 795,000
Property Attributes
  • MLS#329305
  • TypeCommercial
  • CountyFRANKLIN
  • CitySt George Islan
  • AreaFranklin
  • Zip32328
  • StyleRetail
  • Price$ 795,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4140
  • Lot Size6,098 SqFt
Listing Provided Courtesy Of:
Xcellence Realty
Data Source:
Tallahassee Board of REALTORS
Property Description

The whole building is for sale. The upstairs is a condo and the downstairs is a SUBWAY. The SUBWAY business is owned by the seller who is a SUBWAY franchisee and that business is not for sale. The SUBWAY will have a lease between SUBWAY national HQ and the Buyer, who will be the landlord. The lease will allow Subway to stay indefinitely. SUBWAY has been here for 16 years and is very successful. We expect it to stay for generations; it is a very stable business. The condo is currently used as a VRBO (vacation rental by owner). Our first year was an experiment, but actually was a great success. Although the rental was NOT available for 3 months due to Covid, etc., and we started with low prices to attract customers, we grossed $24,000. For 2021 we are now targeting $36,000 gross sales. We have a 4.8/5.0 Guest approval rating on VRBO (#1838167). Our VRBO manager, my daughter, is doing a great job for half the normal price, and is willing to stay on to help the new owner. The SUBWAY rent is negotiable. We desire to help the buyer, such that the rent allows the buyer to pay off a 20 year mortgage, if he decides to get one with the usual 20% down. Taxes, insurance and septic costs are negotiable. Possibly they can be split 50/50 by the SUWBAY tenant and Condo businesses. I am selling this, because I never really wanted to own the building. I only wanted the SUBWAY business. But, in 2018 the building owner was looking to force SUBWAY out. I did not want to lose the business, so I decided to buy the building. I am over leveraged and with interest rates so low, it seems like it is a good time to look for a buyer.

Price History
3/7/2021 Listed $795,000

General Features

MLS Area Franklin
Property SubType Retail
Property Type Commercial Sale

Exterior Features

Lot Size Acres 0.14

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 32328

Price
AVG $690K
$800K
Visits
AVG 7
19
Walkscore
AVG 29
42
Data Provided by Walkscore ® not using MLS data

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