Renovated Mixed-Use
New
For Sale
$1,649,000
22 N 4TH Street, Fernandina Beach, FL 32034
Commercial, 3-4 Story, Fernandina Beach, FL
Property Size3,745 SF
Lot Size0.12 Acres
Price / SF$440.32
Days on Market6
Property Features for 22 N 4TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3
Window features
Vinyl Frames, Wood Frames
Exterior features
Fenced, Sprinkler System
Fencing
Fenced
Directions
Downtown on Centre Street to N 4th Street, directly across from the Public Library.
Subdivision
Ar 1 Island
Standard status
Active
APN
00-00-31-1800-0023-0050
Size
3,745 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
BLOCK 23 LOT 5 L/E OR 1283/1367 CITY OF FDNA BEACH
Legal Description
BLOCK 23 LOT 5 L/E OR 1283/1367 CITY OF FDNA BEACH
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
elevator
Building Details
Year built
1883
Flooring type
Wood
Building materials
Frame
Roof type
Metal
Architectural style
Other
Listing Agency:
BERKSHIRE HATHAWAY HomeServices HWREI
(904) 261-9311
Listed By:
Hugh Williams
(904) 753-1415
Added: Aug 19
Changed: Aug 24
Last Checked: Aug 24 at 4:06PM
MLS# 116964
Copyright © 2026 Amelia Island-Nassau County Association 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 mixed-use property combines a historic frame structure with a comprehensive renovation and 3,745 square feet of updated interior space. Built in 1883, the building includes four bedrooms and three baths, wood flooring, heat-pump heating and cooling, a metal roof, and an elevator serving each level. Fencing and a sprinkler system are also included, while public water serves the property.
The 0.117-acre property is located within the Fernandina Beach Historic District at 22 N 4TH Street in Fernandina Beach, Florida. Its C-3 zoning supports the residential and commercial applications identified for the property, including a rental suite, professional office, or boutique commercial use. The setting provides walkable access to Centre Street shops and dining, the riverfront, the beach, and views toward the Amelia River.
The 0.117-acre property is located within the Fernandina Beach Historic District at 22 N 4TH Street in Fernandina Beach, Florida. Its C-3 zoning supports the residential and commercial applications identified for the property, including a rental suite, professional office, or boutique commercial use. The setting provides walkable access to Centre Street shops and dining, the riverfront, the beach, and views toward the Amelia River.
Key Highlights
- 3,745 square feet of updated interior space in a building constructed in 1883
- C‑3 zoning supports residential and commercial applications
- Elevator provides access across the building’s levels
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
$47,749
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
2.90%
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%
$954,980
$955.0K
Cap Rate 7%
$682,129
$682.1K
Cap Rate 9%
$530,544
$530.5K
Market Conditions
NOI Build-Up for 3,745 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
$89.9K $24.00/SF
− Vacancy
−$13.5K −$3.60/SF
EGI
$76.4K $20.40/SF
− OpEx
−$28.6K −$7.65/SF
NOI
$47.7K $12.75/SF
Area
Nassau County, FL
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$954,980
Cap Rate 7%
$682,129
Cap Rate 9%
$530,544
Alternative Uses
Best Use
Mixed Use
$682.1K
$596.9K – $795.8K
NOI $47,749 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$999.0K
$874.1K – $1.17M
NOI $69,927 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
Demographics for 32034, FL
38,167
Population
21,768
Households
1.8
Avg Household Size
56
Median Age
54%
College-Educated
97%
High-School Grad
65.0 sq mi
ZIP Area
587
Density / Sq Mi
$97,756
Median Household Income
$48,467
Median Earnings
$1,399
Median Rent
$484,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-3 zoning supports adaptable residential and commercial applications in a historically significant building.
Where is this mixed-use property located?
The property is located at 22 N 4TH Street Fernandina Beach, FL.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: 3,745 square feet of updated interior space in a building constructed in 1883; C‑3 zoning supports residential and commercial applications; Elevator provides access across the building’s levels
