Open-Plan Office
For Sale
$1,149,000
Pending
103 Anastasia Blvd, St Augustine, FL 32080
COMMERCIAL/INDUSTRIAL, St Augustine, FL
Property Size2,400 SF
Lot Size0.29 Acres
Days on Market73
Property Features for 103 Anastasia Blvd
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Directions
Cross over the Bridge of Lions onto Anastasia Island. Property is on the right - 103 Anastasia Blvd just before Historic Inn.
Subdivision
06
Standard status
Pending
APN
219260-0000
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
3-99 DAVIS SHORES LOTS 12 THRU 16 BLK 39 OR2814/1354 & 3400/ 1219(F/J) & 3510/1738
Legal Description
3-99 DAVIS SHORES LOTS 12 THRU 16 BLK 39 OR2814/1354 & 3400/ 1219(F/J) & 3510/1738
Building Details
Year built
1966
Floors in Building
1
Listing Agency:
Coldwell Banker Premier Properties (A1A Beach) · Coldwell Banker Real Estate
(904) 471-5000
Listed By:
Richard O'Brien
(904) 814-2080
Added: Jun 18
Changed: Aug 19
Last Checked: Aug 29 at 6:06PM
MLS# 262939
Copyright © 2026 St. Augustine & St. John's County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,400-square-foot office and retail building at 103 Anastasia Blvd offers an open interior without partitions, providing a clean starting point for buildout. The property has concrete block construction, a metal roof, and two bathrooms. It sits on a 0.29-acre parcel with a paved parking area accommodating approximately 20 vehicles.
The building includes 126 feet of frontage along Anastasia Blvd on Anastasia Island and is near the Bridge of Lions. CL-2 zoning supports a range of stated uses, including retail outlet, service establishment, restaurant, hotel, and office building. Built in 1966, the property combines an adaptable interior with established site improvements and direct boulevard exposure.
The building includes 126 feet of frontage along Anastasia Blvd on Anastasia Island and is near the Bridge of Lions. CL-2 zoning supports a range of stated uses, including retail outlet, service establishment, restaurant, hotel, and office building. Built in 1966, the property combines an adaptable interior with established site improvements and direct boulevard exposure.
Key Highlights
- 2,400‑square‑foot office and retail building with an open, unpartitioned interior
- 0.29‑acre parcel with 126 feet of frontage on Anastasia Blvd
- Paved parking lot with space for approximately 20 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,610
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$672,200
$672.2K
Cap Rate 7%
$480,143
$480.1K
Cap Rate 9%
$373,444
$373.4K
Market Conditions
NOI Build-Up for 2,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$57.6K $24.00/SF
− Vacancy
−$12.8K −$5.33/SF
EGI
$44.8K $18.67/SF
− OpEx
−$11.2K −$4.67/SF
NOI
$33.6K $14.00/SF
Area
St. Johns County, FL
Vacancy
22.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$672,200
Cap Rate 7%
$480,143
Cap Rate 9%
$373,444
Alternative Uses
Best Use
Office B
$480.1K
$420.1K – $560.2K
NOI $33,610 @ 7.0% cap · market cap 2.93%
Second Best
Retail
$387.5K
$339.1K – $452.1K
NOI $27,125 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$640.2K
$560.2K – $746.9K
NOI $44,813 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,258
Businesses Nearby
Explore this area
Business Placement
Demographics for 32080, FL
21,889
Population
16,658
Households
1.3
Avg Household Size
57
Median Age
50%
College-Educated
96%
High-School Grad
15.7 sq mi
ZIP Area
1,394
Density / Sq Mi
$91,201
Median Household Income
$49,302
Median Earnings
$1,631
Median Rent
$497,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial space with CL-2 zoning, paved parking, and a layout ready for tenant improvements.
Where is this office units located?
The property is located at 103 Anastasia Blvd St Augustine, FL.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 2,400‑square‑foot office and retail building with an open, unpartitioned interior; 0.29‑acre parcel with 126 feet of frontage on Anastasia Blvd; Paved parking lot with space for approximately 20 vehicles
