WELCOME TO 3875 CAPE SAN BLAS RD (UNIT B-3), KNOWN AS ''THE HIDDEN PEARL.'' Located in the highly sought-after North Cape area, this 3-bedroom, 2.5-bathroom townhome offers a rare dual-waterfront experience. Here, you are close enough to the water to wake up to breathtaking, vibrant sunrises over St. Joseph Bay and end your evenings watching spectacular, unobstructed sunsets dip into the Gulf. Whether you are looking for a private seaside retreat or a lucrative, turn-key addition to your portfolio, this 1,512-square-foot (2,624 sqft total) furnished beach townhome delivers the ultimate coastal lifestyle! FOR ANYONE WATCHING THE CAPE, THE MONUMENTAL 2026 BEACH NOURISHMENT PROJECT IS A GAME-CHANGER. Learn more about the Beach Project here: www.sjpbeach.com/sjpstructures.html Roughly 830,000 cubic yards of fresh, pristine sand has already been successfully placed along the shoreline just north of Stumphole, and crews are staging the rock for the final phase: eight strategically placed, submerged breakwaters. These innovative, nature-based structures are designed to hold the new sand on the beach much longer, absorb wave energy, and drastically slow natural erosion, actively protecting the coastline and cementing the long-term value of your investment on the Forgotten Coast. These rocks have been moved! THE LIFESTYLE ON THE CAPE IS UNMATCHED, OFFERING A PERFECT BLEND OF OLD FLORIDA TRANQUILITY AND OUTDOOR ADVENTURE. Spend your late summers snorkeling and scalloping in the shallow waters of the bay, or explore the nearby state parks renowned for their diverse wildlife, sea turtle nesting, and towering dunes. When you are ready to venture out, you are just a short, scenic drive from the historic charm of Port St. Joe, Windmark, and the beautiful coast of Mexico Beach. Spend afternoons strolling under coastal oaks, browsing the boutique shops along Reid Street, and capping off the evening with world-class local seafood at staples like Hunt's Oyster Bar. SOLD FULLY FURNISHED, THE HOME'S LAYOUT IS PERFECTLY OPTIMIZED FOR ENTERTAINING AND RELAXATION. The spacious, open-concept living area on the main level flows seamlessly onto a large screened-in porch, creating the perfect spot to enjoy the coastal breeze. The fully stocked kitchen boasts fantastic bay views, plenty of prep space, and a convenient breakfast bar, while a large dining table and a half-bath complete this main entertaining floor. THE TOP FLOOR IS DEDICATED TO REST, FEATURING A MASTER SUITE WITH A KING-SIZE BED, A PRIVATE EN-SUITE BATHROOM, AND ACCESS TO A PRIVATE, OPEN SUNDECK. This vantage point offers some of the most stunning, elevated views of the Gulf that you will ever find, allowing you to drift to sleep listening to the sound of crashing waves. Down the hall, the Bayside bedroom offers a queen bed and its own private balcony overlooking the calm waters of the St. Joe Bay, while the third bedroom features a versatile duo bunk (double bottom, twin top) to easily accommodate guests. These two rooms share a full hallway bathroom, and covered under-house parking provides ample space for your vehicle. AS A TURN-KEY PROPERTY CURRENTLY THRIVING, ''THE HIDDEN PEARL'' BOASTS A PROVEN, HIGHLY CONSISTENT REVENUE HISTORY. Generating $76,000 in gross rental income in 2022 and $46,275 in 2023, the strong performance continued with $56,226 across 220 booked nights in 2024, and $52,678 over 208 booked nights in 2025. For the 2026 season year-to-date through mid-June, the home has already secured $27,143 across 100 nights. This is as close as you can get to the beach without the beachfront price tag, representing a seamless blend of personal enjoyment and reliable passive income, with all the modern upgrades!