5961 Sr-A1A
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5961 Sr-A1A
4,400 SF 100% Leased Office Building Saint Augustine, FL 32080 £987,512 (£224/SF) 7% Net Initial Yield
Investment Highlights
- Fully leased; 7% Cap Rate!
- Two 1,080 s/f offices with ADA bathrooms
- Large on-site parking area
- Quadplex - office & residential mixed use
- Two 3 BR/ 2 BA long term rental units
- A1A visibility
Executive Summary
This fully occupied mixed use quadplex is a 7% cap rate and is situated in the desirable Crescent Beach area of St. Augustine, spans two parcels (double deep) and offers a mix of office and residential use.
On the first floor, there are two office spaces, each measuring 1,080 sq ft, featuring ADA-compliant bathrooms. These offices, in very good condition, can be internally connected and are fully leased, boasting an impressive 7% Cap Rate.
The second floor houses two residential units, each with 3 bedrooms, 2 baths, and spanning 1,080 sq ft. These units come fully furnished, including full kitchens with appliances, and offer a serene neighborhood view, just a short walk to the beach.
The property includes a concrete driveway and parking area with handicapped spots. It enjoys good visibility from A1A, is in flood zone AE, and encompasses a total area of 0.43 acres. Zoned Neighborhood commercial. Built in 2007, this property presents a valuable investment opportunity.
On the first floor, there are two office spaces, each measuring 1,080 sq ft, featuring ADA-compliant bathrooms. These offices, in very good condition, can be internally connected and are fully leased, boasting an impressive 7% Cap Rate.
The second floor houses two residential units, each with 3 bedrooms, 2 baths, and spanning 1,080 sq ft. These units come fully furnished, including full kitchens with appliances, and offer a serene neighborhood view, just a short walk to the beach.
The property includes a concrete driveway and parking area with handicapped spots. It enjoys good visibility from A1A, is in flood zone AE, and encompasses a total area of 0.43 acres. Zoned Neighborhood commercial. Built in 2007, this property presents a valuable investment opportunity.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
4,400 SF
Building Class
B
Year Built
2007
Price
£987,512
Price Per SF
£224
Net Initial Yield
7%
NOI
£69,126
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
2,200 SF
Building FAR
0.48
Land Acres
0.21 AC
Zoning
CN
Parking
12 Spaces (2.73 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 182872-0130 | Improvements Assessment | £404,935 |
| Land Assessment | £144,540 | Total Assessment | £549,475 |
PROPERTY TAXES
Parcel Number
182872-0130
Land Assessment
£144,540
Improvements Assessment
£404,935
Total Assessment
£549,475
-
Power Broker Rich O'Brien -
Coldwell Banker Commercial Premier Properties
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5961 Sr-A1A
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