Stately 4,700 square foot, 9-bedroom/5 bath Olde Florida vintage home priced well below market value at just $85/sf. Open floor plan with huge 20' X 30' great room with gas fire place, lofty cathedral ceiling and bright recessed lighting. Spectacular kitchen with eight foot Dolomite center island, stainless steel deep sink, 6-person breakfast bar, all-stainless appliances, professional 6-burner gas stove, built-in Miele double convection oven, and ample soft-close white cabinetry. Home also features a Reehm tankless water heater and three bedroom suites, each with private bath. Situated on 1.2 acres of prime multi-use real estate zoned both residential and commercial, this property offers tons of income-producing potential! The home was used in its early days as a popular Tea House and for many years later as a Rooming House. Live in the main section of the house and lockout upstairs &/or rear bedrooms (with three separate side and rear entrances), to rent to boarders or as private offices at an estimated $650-$800/room/month. Even greater income potential if used as a Bed and Breakfast or . Also well-suited as a group home or commercial office. Maybe a cafe, restaurant, wedding/event venue or live music hall is your dream. The possibilities are endless, especially if one were to improve or build on the expansive, 450' deep back lot. New architectural roof with hurricane straps installed in 2021 with numerous whole-house upgrades in the last five years. Just a short drive to the Blackwater River for swimming, canoeing, tubing or fishing, one hundred yards from the Blackwater Bicycle Trail, ten minutes to NAS Whiting Field and a mere 40-minutes to the emerald waters and sugar white sand beaches of the Gulf of America. If you are an entrepreneurial visionary or simply have a large family, perhaps with elderly or extended family members or an on-site business, you need to give this house a closer look.