The Floridian | 72 Spanish St
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The Floridian 72 Spanish St
5,506 SF Retail Building Saint Augustine, FL 32084 $4,250,000 ($772/SF) 7% Cap Rate
Investment Highlights
- Prime Restaurant Opportunity in Historic District of St. Augustine
- 1 Year Sale Leaseback Option - 7% Cap Rate
- Landmark property with significant appeal
- Zoned HP-3 for Historic Preservation Three, City of St. Augustine
- 5,506 SF of Gross Building Area/Built in 1930
- Real Property Only For Sale, Existing Business not Included
Executive Summary
Discover the vibrant potential of The Floridian’s epic location in the historic district of downtown Saint Augustine, Florida. Positioned in the heart of the bustling retail and culinary scene, this area promises a rich tapestry of attractions for end users and savvy investors seeking a prime restaurant location. Nearby destinations such as St. George Street, with its eclectic shopping and dining opportunities, draw in tourists and locals alike. Experience the charm and allure of this landmark locale, strategically situated to leverage the continuous growth of the Jacksonville submarket. With its unique mix of history and contemporary vibrancy, The Floridian's location offers an exceptional opportunity for restaurant ventures seeking to make a lasting mark in this dynamic setting. The existing operating business known as "The Floridian" is not included, real property only plus FF&E convey. Possible 1 year Sale Leaseback with 7% cap rate available. Shown by appointment only.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$300,000
|
$54.49
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$300,000
|
$54.49
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $300,000 |
| Annual Per SF | $54.49 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $300,000 |
| Annual Per SF | $54.49 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
5,506 SF
Building Class
B
Year Built
1930
Price
$4,250,000
Price Per SF
$772
Cap Rate
7%
NOI
$297,500
Tenancy
Single
Building Height
2 Stories
Building FAR
0.90
Lot Size
0.14 AC
Zoning
HP-3 - Historic Preservation Three
Frontage
57 FT on Spanish Street
Walk Score ®
Walker's Paradise (93)
Bike Score ®
Very Bikeable (87)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 198340-0000 | Improvements Assessment | $1,447,149 (2023) |
| Land Assessment | $926,100 (2023) | Total Assessment | $2,373,249 (2023) |
PROPERTY TAXES
Parcel Number
198340-0000
Land Assessment
$926,100 (2023)
Improvements Assessment
$1,447,149 (2023)
Total Assessment
$2,373,249 (2023)
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The Floridian | 72 Spanish St
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