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    163 E Gulf Beach Drive

    St George Islan, FL 32328
    • $795,000
    • STATUS: Active
    • ON SITE: 69 days
    • MLS #: 329305
    UPDATED: 27 min ago
    $795,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    County:
    Area:

    School Ratings & Info

    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.

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    © 2021 CAPITAL AREA TECHNOLOGY & REALTOR® SERVICES, INC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Danielle Andrews Real Estate powered by Keller Williams Realty. Data last updated: 2021-05-15T00:14:31.787.
    www.danielleandrewsrealestate.com/homes/114844292
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    163 E Gulf Beach Drive St George Islan, FL 32328

    • Price: $795,000
    • Status: Active
    • Updated: 27 min ago
    • MLS #: 329305
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    Neighborhood:
    Franklin
    County:
    Franklin
    Area:
    Franklin
    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.
    Property Features

    Building Area Total 4140 Lease Considered YN No Property Sub Type Retail Property Sub Type Additional Retail

    Listing information © 2021 Capital Area Technology & Realtor Services
    Listing provided courtesy of Xcellence Realty.


    © 2021 CAPITAL AREA TECHNOLOGY & REALTOR® SERVICES, INC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Danielle Andrews Real Estate powered by Keller Williams Realty. Data last updated: 2021-05-15T00:14:31.787.
     
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