Highlights

• U.S. 1 South Commercial Corridor
• 4 Unit Professional Office Building
• Adjacent Pad Site for Future Development

• Ample Parking 30+ spaces
• Versatile Floor Plan
• 2 Story - CB & Frame Construction

Description

Two story, mulit-tenant, four (4) unit professional office building located in the U.S. 1 South commercial corridor containing a total of 3,042 square feet of gross building area, built in 1986. Concrete block construction on 1st floor with wood frame 2nd floor. The floor plan of the building can be configured to accommodate various size and configurations based on individual owner/tenant needs. This property has ample parking and is situated on the eastern most portion of the site, thus allowing for future expansion of up to a separate, detached 4,500 square foot building on an adjacent pad site, subject to County approvals. This property is zoned CG, Commercial General and will accommodate several development scnenarios for the end user and/or investor.

The subject' s market area contains a mixture of commercial, retail, and business related development consisting of automobile dealerships, restaurants, owner occupied retail and service oriented businesses, medical and professional offices, shopping centers, financial institutions, and gasoline filling stations. The subject' s retail and office sub-market has sustained moderate occupancy rates during the 2008/2009 year ranging from 85% to 95% according to local management sources. Most of the space that becomes readily available is filled by another tenant within 6 to 9 months. In summary, the subject neighborhood has been well established for many years and is nearly 90% built-up. As far as the future is concerned, increased activity in the general market and the continued growth of St. Johns County and interest in St. Augustine Beach area should provide opportunities in the future.