103 Magnolia Ave, Green Cove Springs, FL

Bed Breakfast for Sale - $734,900 - 4,480 Sq. Ft. on 0.17 acres


Agent Info

Thomas Hammond

Property Info

CIMLS#1070097
Location
  103 Magnolia Ave
  Green Cove Springs FL 32043
UpdatedAugust 13th, 2020
TypeBed Breakfast
Price$734,900
Building4,480 Sq. Ft.
Land0.17 acres

Attached Documents


Contact


Property Description

If you are looking for a fantastic Bed & Breakfast opportunity, let us proudly show you the Historic River Park Inn in the quaint, riverside village of Green Cove Springs. You will be pleased with the peaceful ambiance of this 19th Century Residence/Inn. Known as the Applegate House, this fully restored gem is the ONLY B&B in all of Clay County, Florida. Marvel at the restoration of the gorgeous floors, staircases, doors, & trim. Savor the preserved, unique architectural elements of this timeless, exceptional Hotel alternative. The 8 BR, 7 Bath property currently rents 5 BR's with an owner's suite. It could be used as a 7 BR B&B with a manager's or owner's suite, too. Perfectly located just steps from the riverfront boardwalk, pier, restaurants and the Clay Theatre, a popular event venue.

Enjoy the gentle breezes on the first and second floor porches. Stroll down to the river front to enjoy the waterside swings, gazebo, childrens play area, or take a dip in the spring fed, newly constructed pool less than a block away. Numerous restaurants, attractions, and parks nearby. Beautiful Old St Augustine is only 35 minutes away. A marina with boat slips is just a block away. The warm hospitality of the current owners (who are retiring) is very evident in this well-kept, great reputation property. This is a perfect property for an owner-occupant or for an addition to a hospitality portfolio. Additional revenue could be added from the short term rentals (not just B&B) such as VRBO or Airbnb.


Financials

Nice NOI. CAP RATE 8% NOW UP TO 10%