844 Anastasia Boulevard, Saint Augustine, FL 32080

$6,350,000
33,075
SqFt
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Listing courtesy of COLDWELL BANKER COMMERCIAL PREMIER PROPERTIES. 904-827-1717

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List Price
$6,350,000
Status
ACTIVE
Days on Market
42
MLS#
GC543551
Subtype
Commercial Sale
Style
One Story
Year Built
1952
Living Area
33,075
Lot Size
56,256
Acres
1.29
Subdivision
Carvers Sub
MLS Area Major
Saint Augustine
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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.

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Additional Information

Community Features
No Deed Restriction
Property Description
One Story
Zoning
CL2
Air Conditioning
Central Air
Exterior Construction
Other
Stories
1
Levels
One
Foundation
Other
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