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Old Town Hotel Site 125 King St 4,338 SF 100% Leased Retail Building Saint Augustine, FL 32084 For Sale
INVESTMENT HIGHLIGHTS
- Prime signalized corner in Historic Downtown St. Augustine- 8 Million Visitors/Year- More than the Grand Canyon- "Last Best" Redevelopment Site
- Zoning: CL-2 (Commercial Low-Two) – supports retail, hospitality, residential
- Potential for Covered Land Play: Strong In-Place Rents with room for growth in high demand sub-market
- 0.52-acre site with ~13,500 SF buildable per floor (up to 40,000 SF total)
- "Air Rights": Height Limit is 35’ (as-of-right), precedent exists for up to 50–65’ with exception
- No Historical Redevelopment Restrictions: Existing structure is not architecturally significant and can be re-developed
EXECUTIVE SUMMARY
Market Force Commercial Real Estate is pleased to present 125 King Street, a rare redevelopment opportunity in the heart of historic St. Augustine, Florida. This signalized corner site is situated within one of the nation’s most visited downtown districts, offering an exceptional canvas for a mixed-use project incorporating hospitality, retail, and residential components.
Currently improved with a single-story retail building occupying just ~19% of its development potential, the property’s flexible CL-2 zoning allows for significant vertical and horizontal densification. Developers can build up to 35 feet (as-of-right) or pursue a height exception to approximately 50–65 feet, unlocking up to 40,000 SF across three to five stories.
The site’s location benefits from high pedestrian traffic, proximity to world-class attractions, and a strong tourism-driven economy with over 8 million annual visitors. Surrounding developments, including the San Sebastian Inland Harbor and the West King Mobility Project, reinforce the area’s momentum and provide strong comparables for retail and hospitality demand.
This offering represents an unmatched opportunity to create a flagship mixed-use destination in St. Augustine’s historic core.
Currently improved with a single-story retail building occupying just ~19% of its development potential, the property’s flexible CL-2 zoning allows for significant vertical and horizontal densification. Developers can build up to 35 feet (as-of-right) or pursue a height exception to approximately 50–65 feet, unlocking up to 40,000 SF across three to five stories.
The site’s location benefits from high pedestrian traffic, proximity to world-class attractions, and a strong tourism-driven economy with over 8 million annual visitors. Surrounding developments, including the San Sebastian Inland Harbor and the West King Mobility Project, reinforce the area’s momentum and provide strong comparables for retail and hospitality demand.
This offering represents an unmatched opportunity to create a flagship mixed-use destination in St. Augustine’s historic core.
DATA ROOM Click Here to Access
- Operating and Financials
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,338 SF
Building Class
B
Year Built/Renovated
1967/2020
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
0.52 AC
Opportunity Zone
Yes
Zoning
CL-2 - CL-2 zoning: 35’ as-of-right (2–3 stories), 60% lot coverage. Height up to 65’ possible via PUD. Most intensive zoning in Historic Area.
Parking
25 Spaces (5.76 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
- Air Conditioning
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 202280-0000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,086,254 |
PROPERTY TAXES
Parcel Number
202280-0000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,086,254
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Old Town Hotel Site | 125 King St
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