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8580 Palmo Fish Camp Rd - Spooner St Johns Riverfront Investment Income 2,104 SF Specialty Building Offered at $649,900 at a 10.21% Cap Rate in Saint Augustine, FL 32092
INVESTMENT HIGHLIGHTS
- Beautifully Renovated
- Great for Fishing Adventurers or Vacationing
- Spectacular River Front Views
EXECUTIVE SUMMARY
Enjoy the beauty & tranquility of this lovely waterfront retreat! This amazing property has 2 houses that front on the famous St Johns River at entry of Six Mile Creek. Makes a great 2-unit short-term rental, AIRBNB, VRBO, winter home, or permanent homestead. The 2-bedroom, 2-bath main house features front & back porches, metal roof, 2-car carport, gated entry, fantastic interior/exterior renovations w/luxury vinyl plank flooring, gourmet kitchen with new cabinets, countertops, & appliances, completely updated baths (both with bidets), fine window treatments, new washer/dryer, & more. The separate studio style guest house was completely redone a year ago (raised above flood zone) & has a convenience kitchen, bath w/shower, a TV area with a smart TV. Private updated dock w/boat lift, new bulkhead/sea wall, & public boat ramp 200' from property make this a riverfront dream location. You simply can't find properties like this on the river for less than $1,000,000. Partially furnished.
This is a beautiful property and will do well as long term or short term rental. See proforma Cap and ROI projections in documents. Buyer should verify own use and revenue/expense projections. These are just for illustration purposes.
Meticulously updated & maintained. New bulkhead/seawall inspected & awaiting backfill. Septic system pumped/inspected 5/2025. Some furnishings included & all are negotiable. Electric Vehicle Charger was recently added. Guest house was raised and rebuilt/renovated. 24 notice required for showings.
From I-95 take the Intl Golf Pkwy Exit & turn east. Continue on Intl Gold Pkwy to FL-16. Turn Right. Turn left onto FL-16 W go 1.7 mi then turn left onto County Rd 13 N. Go 1.2 mi & Turn right onto Palmo Fish Camp Rd. Go to end of Rd. Tuen right just before Public Boat Ramp. Property is 150' on left.
This is a beautiful property and will do well as long term or short term rental. See proforma Cap and ROI projections in documents. Buyer should verify own use and revenue/expense projections. These are just for illustration purposes.
Meticulously updated & maintained. New bulkhead/seawall inspected & awaiting backfill. Septic system pumped/inspected 5/2025. Some furnishings included & all are negotiable. Electric Vehicle Charger was recently added. Guest house was raised and rebuilt/renovated. 24 notice required for showings.
From I-95 take the Intl Golf Pkwy Exit & turn east. Continue on Intl Gold Pkwy to FL-16. Turn Right. Turn left onto FL-16 W go 1.7 mi then turn left onto County Rd 13 N. Go 1.2 mi & Turn right onto Palmo Fish Camp Rd. Go to end of Rd. Tuen right just before Public Boat Ramp. Property is 150' on left.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$192,273
|
$91.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$58,227
|
$27.67
|
| Effective Gross Income |
$134,046
|
$63.71
|
| Taxes |
$10,860
|
$5.16
|
| Operating Expenses |
$56,818
|
$27.00
|
| Total Expenses |
$67,678
|
$32.17
|
| Net Operating Income |
$66,368
|
$31.54
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $192,273 |
| Annual Per SF | $91.38 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $58,227 |
| Annual Per SF | $27.67 |
| Effective Gross Income | |
|---|---|
| Annual | $134,046 |
| Annual Per SF | $63.71 |
| Taxes | |
|---|---|
| Annual | $10,860 |
| Annual Per SF | $5.16 |
| Operating Expenses | |
|---|---|
| Annual | $56,818 |
| Annual Per SF | $27.00 |
| Total Expenses | |
|---|---|
| Annual | $67,678 |
| Annual Per SF | $32.17 |
| Net Operating Income | |
|---|---|
| Annual | $66,368 |
| Annual Per SF | $31.54 |
PROPERTY FACTS
| Price | $649,900 | Building Class | B |
| Price Per SF | $308.89 | Lot Size | 0.35 AC |
| Sale Type | Investment or Owner User | Building Size | 2,104 SF |
| Cap Rate | 10.21% | No. Stories | 1 |
| Property Type | Specialty | Year Built/Renovated | 1984/2022 |
| Property Subtype | Residential Income | Parking Ratio | 4.28/1,000 SF |
| Zoning | RS - Residential | ||
| Price | $649,900 |
| Price Per SF | $308.89 |
| Sale Type | Investment or Owner User |
| Cap Rate | 10.21% |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 2,104 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1984/2022 |
| Parking Ratio | 4.28/1,000 SF |
| Zoning | RS - Residential |
AMENITIES
- Waterfront
- Car Charging Station
- Air Conditioning
- Smoke Detector
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8580 Palmo Fish Camp Rd - Spooner St Johns Riverfront Investment Income
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