Unique Seaside Commercial/Residential Opportunity

Real Estate opportunities like this do not come on the market often, especially in an iconic, internationally famous coastal village like Seaside. If you are in the position to purchase a lucrative rental investment property, be sure to check out 120 Quincy Circle.

Seaside received its claim to fame as the first masterplan community in the world that featured a pedestrian-friendly design. Residents are able to easily walk anywhere in the village from their gracious homes, including the lush lawn amphitheater lined with towering palm trees, fashion boutiques, restaurants with friendly bars, and the bright crystalline beach. This picture-perfect place was featured as the film background for the idyllic fake town of Seahaven Island in The Truman Show with Jim Carrey back in the late 90s. The golden Americana design provides a captivating setting, and this charming village is a top destination among the “rich and famous” who have chosen it as one of their favorite beach vacation meccas.

This fabulous property is located towards village green near the gulf, which is at the entrance of fashionable Ruskin Place. This part of Seaside has long been known as a colony for artists and is a chic popular shopping destination. The enchanting park-like setting is often used for private parties, weddings, and receptions. It consists of three-story tall buildings that grace the lovely landscaped grounds. Many of them have art galleries or fashion boutiques on the first floor and private residences on the upper two levels. This property is one of those. The first-floor has a thriving retail establishment called Amore by the Sea which is owned by the seller. It specializes in coastal-styled decorative art, wall hangings, sculpture, antiques, jewelry, and clothing. This first-floor space encompasses 1,196 square feet. They wish to remain tenants to rent from the new owner through the end of this year.

The upper two floors have vacation residences, with one on each floor. These have been used as short-term rental properties since Seaside is a popular beach destination. Our highly acclaimed Ocean Reef Resorts property management division represents many vacation rentals for private owners along Scenic 30A. The gross annual rental income for four-bedroom properties in this area is around $186,375. If this residence was rented as two individual properties, the annual gross rental income would be around $93,000 per unit. The purchase of this rental investment property includes complete furnishings, which are conveyed on a turnkey basis. It is ready for rental or personal use when your contract is closed.

Both vacation residences are essentially the same size encompassing approximately 1,295 square feet. Each has two bedrooms and an open concept living, dining, and kitchen area. Beach washed parchment tiled flooring and rustic cottage-style furnishings provide a charming, comfortable setting. Each living area features sleek white tufted leather couches that wrap around two walls. Decorative art throughout includes vases, marine life sculptures, paintings of watery forest landscapes, flowers, and sea life.

The open kitchens have counter bars with seating, brushed stainless steel appliances, and cream-colored custom cabinetry.

Both dining areas include white rectangular tables with six crisscross-backed cottage-style chairs.

The master bedroom in each unit features contemporary and fashionable vintage modern furnishings and private ensuite baths.

The guest bedrooms have access to a full hall bath that doubles as a convenient powder room off the living area.

Columned verandas with comfortable furnishings span the width of the open interiors. Glass doors provide balcony access from the living area in one residence and the dining area in the other.

The biggest difference between the two residences is that the one on the third floor also has access to a spacious rooftop entertainment deck. It is accessible from a staircase that leads up from the veranda below. This large observation deck provides stellar 360-degree panoramic views of the village and the glittering gulf in the distance. It is perfect for entertaining since it includes lounge furniture, a fire pit with four chairs, and a dining table for six.

This unique residential and commercial investment property with 3,784 square feet in the heart of Seaside is listed at $6,500,000. Comparable properties that have sold here in Seaside within the last twelve months range in price from $1,900,000 for a three-bedroom residence with 2,694 square feet up to $3,350,000 for a five-bedroom property with 5,526 square feet. Currently, only one other property of this kind is listed for sale. It is used entirely as a residential property and comes completely furnished. It has four bedrooms, encompasses 2,583 square feet, and is listed at $3,295,000.

If you are interested in exploring a commercial and residential rental investment property in Seaside or along Scenic 30A, contact our Ocean Reef Real Estate office today at 877-392-6085. We will provide you with complete details, including a professional comparative market analysis showing all active listings, pending contracts, and properties that have sold here within the past twelve months. We will also share detailed data from our Ocean Reef Resorts property management division. We will ensure that you are fully informed when picking the properties you wish to see, and we will happily arrange your private tour.