4508 Us-1
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4508 Us-1
2,813 SF Retail Building Saint Augustine, FL 32095 $2,409,699 CAD ($857 CAD/SF) 7.65% Cap Rate
Investment Highlights
- Prime location on US-1 N, 25,000 cars/Day
- Located on Northbound side of US-1 to catch morning commuter traffic to Jacksonville
- Seller Financing Considered for Qualified Owner-Operators
- Strong Local Trade area with Captive Daytime Population-The single largest employer in St. Johns, Northrop Grumman, within 500' of site.
- CG Zoning- Allows majority of retail uses by right, including Drive-Thru
Executive Summary
Market Force CRE, as exclusive advisor to the Seller, is pleased to present 4508 US-1, St. Augustine, FL to the market for sale.
4508 US-1 is a freestanding 2nd generation restaurant building located on approximately .46 acres. Zoned Commercial General in St. Johns County, the property is zoned for restaurant, liquor store, drive thru, bank, cannabis/medical dispensary, and other general retail uses.
St. Johns County is one of the fastest growing counties in the entire U.S., with over 416,000 square feet of retail recently delivered in the last 12 months. However, the urban core of St. Augustine still remains underdeveloped, and prime retail opportunities on US-1 this close to the downtown St. Augustine are few.
This property’s competitive advantage is its proximity to the downtown St. Augustine core, while still being accessible to over 20,000 newly built homes in St. Johns County.
US-1 acts as the primary commuter corridor from St. Augustine to Jacksonville FL, and this property’s positioning along the northbound side provides an ideal opportunity to not only capture morning commuter business, but also the captive workforce populations at the St. Johns County Government Complex less than 500’ away across US-1 and the Northeast Florida Regional Airport and Northrup Grumman Northeast FL headquarters less than 400’ to the north.
With 585 luxury apartments recently delivered in 2018 and the luxury waterfront Madeira master planned subdivision (228 units in delivery), there is an extremely affluent local demographic located less than 1 mile from the site.
4508 US-1 is a freestanding 2nd generation restaurant building located on approximately .46 acres. Zoned Commercial General in St. Johns County, the property is zoned for restaurant, liquor store, drive thru, bank, cannabis/medical dispensary, and other general retail uses.
St. Johns County is one of the fastest growing counties in the entire U.S., with over 416,000 square feet of retail recently delivered in the last 12 months. However, the urban core of St. Augustine still remains underdeveloped, and prime retail opportunities on US-1 this close to the downtown St. Augustine are few.
This property’s competitive advantage is its proximity to the downtown St. Augustine core, while still being accessible to over 20,000 newly built homes in St. Johns County.
US-1 acts as the primary commuter corridor from St. Augustine to Jacksonville FL, and this property’s positioning along the northbound side provides an ideal opportunity to not only capture morning commuter business, but also the captive workforce populations at the St. Johns County Government Complex less than 500’ away across US-1 and the Northeast Florida Regional Airport and Northrup Grumman Northeast FL headquarters less than 400’ to the north.
With 585 luxury apartments recently delivered in 2018 and the luxury waterfront Madeira master planned subdivision (228 units in delivery), there is an extremely affluent local demographic located less than 1 mile from the site.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,813 SF
Building Class
B
Year Built
1984
Price
$2,409,699 CAD
Price Per SF
$857 CAD
Cap Rate
7.65%
NOI
$184,271 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Land Acres
0.46 AC
Zoning
CG - St. Johns Commercial General Zoning-Allows most uses by right, including drive thru restaurant.
Parking
40 Spaces (14.22 Spaces per 1,000 SF Leased)
Frontage
128 ft on Us-1
PROPERTY TAXES
| Parcel Number | 081550-0090 | Improvements Assessment | $315,762 CAD |
| Land Assessment | $277,689 CAD | Total Assessment | $593,450 CAD |
PROPERTY TAXES
Parcel Number
081550-0090
Land Assessment
$277,689 CAD
Improvements Assessment
$315,762 CAD
Total Assessment
$593,450 CAD
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Zachary Lemke -
Market Force CRE
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