7 San Bartola Drive

    St Augustine, FL 32086
    • $3,150,000
    • STATUS: Active
    • ON SITE: 204 days
    • MLS #: 187409
    UPDATED: 54 min ago
    $3,150,000
    • 0
      BEDS
    • 2.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    12
    Type:
    Commercial
    Built:
    1983
    County:
    Area:
    12

    School Ratings & Info

    Description

    Opportunity knocks! This multi-tenant industrial property consists of 10 tenants in five buildings constructed in 1983, 1984 and 1997. The property consists of 3 contiguous parcels containing a total of 2.21 acres, which is subject to survey. The site has two physical addresses, 7 San Bartola Drive and 1 Willard Drive, with frontage and access on both right of ways. This property is advantageously located in in the State Road 312/US Highway 1 South corridor, adjacent to Flagler Hospital. Future highest and best use of the property is multi-tenant, medical and professional office type use. Preliminary site and building plans are in process for review. Property is currently zoned (IW) Industrial Warehousing but is located in Mixed-Use District which accommodates rezoning. Current cash flow is reflective of market value and does not take into account future conversion of the property. Utilize existing cash flow (7.25 Cap Rate) while plans and financing arrangements are made for a more profitable owner and/or tenant occupied future investment and development. This location is main and main for the medical office field. This would be a great 1031 exchange property for an investor and is capable of sustaining a strong future cash flow where we have low tenant turnover and high occupancy rates for this type of space and tenant. Existing rental rates are low to below market and can easily be bumped to generate a higher rate of return for next owner. Call Listing Agent to view property and do not approach tenants.

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    © 2019 St. Augustine & St. Johns County Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or Tyree Tobler | RE/MAX Leading Edge. Data last updated 2019-12-11T08:30:42.037.
    www.stahomes4sale.com/homes/94989212

    7 San Bartola Drive St Augustine, FL 32086

    • Price: $3,150,000
    • Status: Active
    • Updated: 54 min ago
    • MLS #: 187409
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.21
    Acres
    1983
    Built
    Neighborhood:
    12
    County:
    Saint Johns
    Area:
    12
    Property Description
    Opportunity knocks! This multi-tenant industrial property consists of 10 tenants in five buildings constructed in 1983, 1984 and 1997. The property consists of 3 contiguous parcels containing a total of 2.21 acres, which is subject to survey. The site has two physical addresses, 7 San Bartola Drive and 1 Willard Drive, with frontage and access on both right of ways. This property is advantageously located in in the State Road 312/US Highway 1 South corridor, adjacent to Flagler Hospital. Future highest and best use of the property is multi-tenant, medical and professional office type use. Preliminary site and building plans are in process for review. Property is currently zoned (IW) Industrial Warehousing but is located in Mixed-Use District which accommodates rezoning. Current cash flow is reflective of market value and does not take into account future conversion of the property. Utilize existing cash flow (7.25 Cap Rate) while plans and financing arrangements are made for a more profitable owner and/or tenant occupied future investment and development. This location is main and main for the medical office field. This would be a great 1031 exchange property for an investor and is capable of sustaining a strong future cash flow where we have low tenant turnover and high occupancy rates for this type of space and tenant. Existing rental rates are low to below market and can easily be bumped to generate a higher rate of return for next owner. Call Listing Agent to view property and do not approach tenants.
    Exterior Features

    Construction Steel Foundation Concrete Location Industrial Park Lot Size 2.21 Acres Roof Corrugated Metal

    Interior Features

    Flooring Concrete Office Sq Ft 0 Warehouse Sq Ft 37500

    Property Features

    Airport Nearby YN No Bank Corporate Owned YN No Business Description Multi-Tenant Warehouse Business Name 312 Industrial Park Cdd YN No Commercial Type Industrial-LightManufacturing-LightWarehouse Storage Comprehensive Plan Desig Md Gross Annual Income 268380 Present Zoning Iw Seller Financing Terms To Be Negotiated Short Sale YN No Survey YN Yes Tax Year 2019 Taxes 15682.34 Tenancy Fully LeasedMultiple Tenants Total Annual Expense 40113 Type Of Property Industrial Waste Sewer Water Public Water

    Listing courtesy of Century 21 Saltwater Property Group.


    © 2019 St. Augustine & St. Johns County Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or Tyree Tobler | RE/MAX Leading Edge. Data last updated 2019-12-11T08:30:42.037.
     
    Tyree Tobler | RE/MAX Leading Edge
    93 King St
    St. Augustine FL, 32084