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St. Augustine Record Building 154 Cordova St 18 Unit Apartment Building $5,000,000 ($277,778/Unit) 7% Cap Rate Saint Augustine, FL 32084
INVESTMENT HIGHLIGHTS
- 18,705+-SF on +- .69 Acres
- CL-2 Zoning Allows Majority of uses: Retail, Restaurant, Hotel
- 38+- On-Site Parking Spaces- A Premium in Downtown St. Augustine
- Fully Sprinkled and with Elevator Access
EXECUTIVE SUMMARY
Market Force CRE is pleased to present this exclusive opportunity to acquire the Historic St. Augustine Record Building at 154 Cordova Street in Historic Downtown St. Augustine. Formerly the Headquarters of the St. Augustine Record, the Oldest City’s local newspaper, the site was converted into an apartment building in 2005 and now stands ready for a new user to reimagine the site- Boutique Hotel, Distillery, Winery, Restaurant, Condominium Conversion, & More.
The site represents one of the largest still available buildings and parcels left in the Historic District- the "last best" opportunity for a large format end user to acquire a site in this highly coveted area.
The site represents one of the largest still available buildings and parcels left in the Historic District- the "last best" opportunity for a large format end user to acquire a site in this highly coveted area.
PROPERTY FACTS
| Price | $5,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $277,778 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.69 AC |
| Cap Rate | 7% | Building Size | 18,705 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 18 | Year Built | 1906 |
| Property Type | Multifamily | Parking Ratio | 2.03/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | MF - Commercial Low-2: Most Intensive Zoning District in Downtown St. Augustine Area- Allows for nearly all retail uses and Hotel/Distillery/Brewery Uses. | ||
| Price | $5,000,000 |
| Price Per Unit | $277,778 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Sale Condition | 1031 Exchange |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.69 AC |
| Building Size | 18,705 SF |
| No. Stories | 2 |
| Year Built | 1906 |
| Parking Ratio | 2.03/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MF - Commercial Low-2: Most Intensive Zoning District in Downtown St. Augustine Area- Allows for nearly all retail uses and Hotel/Distillery/Brewery Uses. |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Furnished Units Available
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | 267 |
| 1+1 | 4 | - | 500 |
| 2+2 | 8 | - | 567 |
| 3+2 | 3 | - | 700 |
| 4+2 | 1 | - | 927 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 199800-0000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,149,840 |
PROPERTY TAXES
Parcel Number
199800-0000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,149,840
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St. Augustine Record Building | 154 Cordova St
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