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 it's month-to-month leases, can enjoy the upside potential very quickly in moderate rate increases to existing tenants or substantial increase to new tenants. 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 new 160 unit housing development. All within a 10 minute walk to historic downtown St. Augustine. Don't look back on this opportunity and say "I could of / would of / should of". This investment opportunity won't last long and if you are looking for that special location for your owner / occupied business, you need to act now as the ability to purchase a building of this size anywhere in St. Augustine, is extremely rare. Be a part of the excitement. All Aboard!!! Individual 1,426 sqft spaces also available for lease at $2,000 per month Gross.
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0.17ACRES
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01/2 BATHS
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 it's month-to-month leases, can enjoy the upside potential very quickly in moderate rate increases to existing tenants or substantial increase to new tenants. 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 new 160 unit housing development. All within a 10 minute walk to historic downtown St. Augustine. Don't look back on this opportunity and say "I could of / would of / should of". This investment opportunity won't last long and if you are looking for that special location for your owner / occupied business, you need to act now as the ability to purchase a building of this size anywhere in St. Augustine, is extremely rare. Be a part of the excitement. All Aboard!!! Individual 1,426 sqft spaces also available for lease at $2,000 per month Gross.
© 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 2021-03-02T08:30:39.203.