Versatile commercial opportunity located within the city limits of St. Augustine, featuring CL-1 zoning that allows for a wide range of residential and business uses. This flexibility makes the property ideal for investors, owner-operators, or those seeking multiple income streams. Situated on a fully fenced 0.4-acre parcel with over 100 feet of frontage along Masters Drive, the property blends historic character with functional commercial infrastructure. The site includes a late-1800s Florida-style home offering approximately 1,343 square feet of heated and cooled space. Interior features include original heart pine flooring, spacious rooms with high ceilings, solid wood walls and ceilings, and multiple flex spaces suitable for bedrooms, offices, or work areas. The home has been thoughtfully updated with a new 5V crimp metal roof, 200-amp electrical service, central HVAC, updated PVC plumbing, an on-demand gas water heater, and a monitored alarm system. In addition to the main residence, the property features a 1,222-square-foot detached storage building with four separate bays, roll-up doors, electricity, and lighting—ideal for contractor use, storage income, or small business operations. The grounds are both functional and attractive, with mature live oak and cedar trees, established landscaping, brick-paved driveways, ample off-street parking, and a large roll-back gate for added privacy. The property is serviced by city water, sewer, and garbage, and is located in Flood Zone X (high and dry). With its zoning and layout, the property supports a variety of uses, including an owner-occupied residence, long- or short-term rental, restaurant, retail space, office, contractor yard, equipment storage, or a mixed-use investment with multiple tenants. 86 Masters Drive offers a unique opportunity—whether you're seeking an office/warehouse with abundant parking or a residence with room to expand. Contact our office today to schedule a showing and ask for the detailed features sheet.