844 Anastasia Blvd, St Augustine, FL 32080 St. Augustine, FL 32080
Other
MLS #: 2160514
Courtesy Of Coldwell Banker Premier Properties
Property InformationDescription
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.
Features
- Age: Over 50 Years Old
- Architecture Style: Other
- MLSID: 2160514
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