5955 Capo Island Rd
Saint Augustine, FL 32095
5940 US 1 Highway N, St. Augustine, FL. 32095 · Multifamily Property For Sale · 1 Unit

This expansive assemblage of adjacent parcels along US Highway 1 North presents a rare opportunity to acquire a high-visibility, income-producing property in one of Northeast Florida’s most active growth corridors between St. Augustine and Jacksonville. With two access points, mixed-use zoning, and significant frontage along US-1, the highest and best use of this offering is redevelopment, while still providing immediate cash flow from existing tenants.
Parcels 0745500010, 0745500040, 0745500050, and 0745500060 together form a contiguous assemblage stretching from US-1 back to Capo Island Road, offering strong frontage, access, and redevelopment flexibility.
Starting along US-1, Parcel 0745500010 consists of approximately 1 acre with mixed residential and commercial zoning. This parcel includes a concrete block commercial building with a storage yard and a storage building currently used as an auto dealership, along with a single-family residence featuring 1,560 square feet of air-conditioned living space and a metal roof, allowing for continued income or future redevelopment.
Immediately adjacent, Parcel 0745500040 encompasses 1.08 acres and includes a duplex built in 1985, along with an additional mobile home, providing further rental income.
Continuing through the assemblage, Parcel 0745500050 totals 0.59 acres and is improved with a large mobile home built in 2007, offering approximately 3,411 square feet, four bedrooms, three bathrooms, and a spacious rear addition.
Running along the full depth of the property, Parcel 0745500060 is a 1.9-acre narrow strip that connects US-1 to Capo Island Road, allowing access from both ends and enhancing overall site usability. This parcel includes US-1 frontage and there is a planned split to have an approximate 5,400-square-foot section removed from the US-1 side and added to an adjacent property. That property is also available, see below. After the split, the parcel will retain approximately +/- 150 feet of high-visibility frontage on US-1, preserving its strong redevelopment potential.
Across the assemblage, zoning includes a combination of C-1, OR, and RG-1, offering exceptional flexibility for future commercial, residential, or mixed-use development. All parcels are high and dry, located in Flood Zone X, and include multiple outbuildings and storage sheds. The existing improvements across the properties are currently generating steady income from a variety of tenants, making this an attractive option for investors while plans for redevelopment are explored.
This offering represents an extraordinary opportunity to capitalize on the continued growth along US Highway 1 North. Whether held as an income-producing asset or redeveloped into a cohesive commercial and residential destination, the long-term upside is significant.
Additional parcels to the north referenced above are also available and may be purchased separately or combined with this listing. Please reference MLS number #260128 for the individual available parcels, and MLS number #245926 for the complete assemblage opportunity.