$6,350,000
844 ANASTASIA BLVD, ST AUGUSTINE, FL 32080
ActiveProperty details
About this home
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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Listings courtesy of Stellar MLS as distributed by MLS GRID. MLS #MFR811421001. Listing brokerage: COLDWELL BANKER COMMERCIAL PREMIER PROPERTIES. Status: Active.
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