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$ 6,350,000
Est. payment /mo
Price Dropped by $145K
844 ANASTASIA BLVD St. Augustine, FL 32080
26,485 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 26,485 sqft
Price per Sqft $239
MLS Listing ID 2160514
Year Built 1952
Annual Tax Amount $60,334
Lot Size 1.460 Acres
Acres 1.46
Property Sub-Type Retail
Source realMLS (Northeast Florida Multiple Listing Service)
Property Description
Lighthouse Plaza is a fully leased, 16-unit retail center totaling 26,485 SF on 1.46 acres along Anastasia Boulevard (SR A1A), St. Augustine's main corridor between historic downtown and the beaches, a few hundred feet from the St. Augustine Lighthouse and the Alligator Farm. The center is 100% leased (16 of 16 suites) to established local operators on predominantly NNN leases with 3% annual increases. Offered at $6,350,000, a 7.0% cap rate on pro forma NOI of $444,530 (approximately $240/SF), with an average base rent of $16.78/SF. Recent improvements include roof, facade, storefront and electrical work. The sale includes an additional lot on Palmetto Avenue at the rear of the center, currently used for overflow parking.
Location
State FL
County St. Johns
Area 323-Davis Shores
Direction One of St. Augustine's most traveled commercial corridors connecting downtown to the beaches.
Exterior
Parking Features Other, Unassigned
Private Pool No
Building
Lot Description Other
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 1576800000
Listed by COLDWELL BANKER PREMIER PROPERTIES • ERIC MAIMO
NEARBY SCHOOLS & PROPERTIES
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