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    197/201/203 W King St.

    St Augustine, FL 32084
    • $999,000
    • STATUS: Active
    • ON SITE: 482 days
    • MLS #: 195790
    UPDATED: 21 min ago
    $999,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    05N
    Type:
    Commercial
    Built:
    1935
    County:
    Area:
    05N

    School Ratings & Info

    Description

    Looking for that special Investment Opportunity with great upside potential in a high demand area with limited barriers to entry? Look no further and come on board. Rare W. King Street opportunity to invest in this nostalgic 3 unit retail building at the entrance to the St. Augustine's rapidly evolving West Augustine district. An area desirable for eclectic retail shops, brewery's, coffee shops and restaurants. Rental opportunities seldom come available but those that do are seeing staggering rental rates. This building has rental rates well below "market rate" and with upside potential with moderate rate increases to existing tenants or substantial increase to new tenants. 2 of the 3 commercial spaces have options to extend from 2-5 years. One space the lease expires in March of 2022. To add to the excitement of this opportunity, plans have just been released for an exciting redevelopment of the property directly across the street that will forever change this corridor. Conceptual plans include an 1,100 space parking garage, 33,700 sqft of commercial development, possible grocery store and a a new 160 unit housing development. All within a 10 minute walk to historic downtown St. Augustine. Please note that the proposed development across the street is conceptual and has not been approved as of 9/13/21.

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    © 2021 St. Augustine & St. Johns County Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or Keller Williams Realty Atlantic Partners. Data last updated 2021-09-28T12:30:49.98.
    www.noahbaileygroup.com/homes/106464396
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    197/201/203 W King St. St Augustine, FL 32084

    • Price: $999,000
    • Status: Active
    • Updated: 21 min ago
    • MLS #: 195790
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    1935
    Built
    Neighborhood:
    05N
    County:
    Saint Johns
    Area:
    05N
    Property Description
    Looking for that special Investment Opportunity with great upside potential in a high demand area with limited barriers to entry? Look no further and come on board. Rare W. King Street opportunity to invest in this nostalgic 3 unit retail building at the entrance to the St. Augustine's rapidly evolving West Augustine district. An area desirable for eclectic retail shops, brewery's, coffee shops and restaurants. Rental opportunities seldom come available but those that do are seeing staggering rental rates. This building has rental rates well below "market rate" and with upside potential with moderate rate increases to existing tenants or substantial increase to new tenants. 2 of the 3 commercial spaces have options to extend from 2-5 years. One space the lease expires in March of 2022. To add to the excitement of this opportunity, plans have just been released for an exciting redevelopment of the property directly across the street that will forever change this corridor. Conceptual plans include an 1,100 space parking garage, 33,700 sqft of commercial development, possible grocery store and a a new 160 unit housing development. All within a 10 minute walk to historic downtown St. Augustine. Please note that the proposed development across the street is conceptual and has not been approved as of 9/13/21.
    Exterior Features

    Lot Size 7405

    Interior Features

    Office Sq Ft 793 Retail Sq Ft 4745

    Property Features

    Bank Corporate Owned YN No Business Description Investment Opportunity Business Name N/A Cdd YN No Gross Annual Income 70800 Net Operating Income 52829 Operating Expenses 17971 Present Zoning Cm-2 Short Sale YN No Tax Year 2018 Taxes 8071.9 Type Of Property Retail

    Listing courtesy of Coldwell Banker Commercial Premier Properties.


    © 2021 St. Augustine & St. Johns County Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or Keller Williams Realty Atlantic Partners. Data last updated 2021-09-28T12:30:49.98.
     
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    Keller Williams Realty Atlantic Partners
    100 Southpark Blvd., Suite 201
    St. Augustine FL, 32086