Property
| Ownership: | Fee Simple |
|---|---|
| Type: | Retail |
| Area: | 33075 sq ft |
| Lot Size: | 1.3 Acres |
Financials
Price:$6,350,000
Annual Taxes:$60,334.99
Listing Courtesy of COLDWELL BANKER COMMERCIAL PREMIER PROPERTIES
Lighthouse Plaza is a fully leased, 16 unit retail center totaling 26, 485 SF on 1.
Description
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.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
