InnShopper > Inns for Sale > Florida > St. Augustine > Menorcan Square

Menorcan Square


St. Augustine, FL   Offered for sale at $979,000
 

Built in 1885 by the great, great uncle of the owner and lovingly restored by them between 2014 and 2016, Menorcan Square has so many uses you can create the business of your dreams! Mixed use zoning allows overnight (hotel, bed and breakfast), retail/office, walk up restaurant or coffee, beer and wine bar along with residential. Currently there are 2 licensed, fully compliant hotel rooms, an art gallery/retail store, a walk up restaurant space, outdoor café seating and owner/operator quarters. You can convert the owners quarters and the walk-up restaurant to be 2 additional hotel rooms if you prefer. Operating at a 7% CAP rate. Located in a high traffic area (foot 250/hr and vehicular 1500/hr) across from the new main Old Town Trolley Welcome Center that will be completed in March, 2019. Also within walking distance to Castillo de San Marcos, St. George Street, and all of historic downtown restaurants and sites. This is a unique opportunity to live and work in an historic property in downtown St. Augustine and have your home paid for by the business. Schedule a showing today!



Property Details
  • 2 Guest Rooms
  • 2 Guest Room Baths
  • Has Owner's Quarters
  • Built in 1885
  • Last Renovated in 2016
  • Building is 2,680 SQFT
  • Lot is 0.05 Acres
  • Photo Gallery
  • Property Website
Financial Details
  • Offered for sale at $979,000
  • Occupancy Rate: 54%
  • Average Daily Rate: 184.00
  • Annual revenue is $92,000
Contact Information