Bank owned office development project with great upside potential to the developer with a vision on the long term outlook for the Greater St. Augustine area. Significant residential growth in the county is typically followed up with a higher demand for office product and currently St. Augustine only has a small supply of 2nd and 3rd generation office space available with no new office projects in the pipeline in the area. Given the aggressive pricing of the opportunity, coupled with the infrastructure currently in place and the ability to build in phases as necessary, provides an exciting opportunity for an astute developer.
Property originally planned for approximately 59,000 +/- Office Condominiums but the liberal CN zoning allows for a multitude of alternative uses.
Seller does not warrant the condition of the horizontal improvements on the property.
Located 1 block off of US-1 and 3/4th mile South of SR-312. SR-312 / US-1 is considered St. Augustine's Core Commercial District. Notable retailers include Home Depot, Loews, Target and a multitude of retailers filling 4 shopping centers in a 1/2 mile radius of the core. In addition, the subject property is in a area conducive to traditional and medical offices due to it's close proximity to Flagler Hospital.
Building Size: 23088.0sq ft
Lot Size: 9.59 acres
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