Flex Warehouse with Split
96 FRED WATERS Way St Augustine, FL 32084
For Sale
$765,000
COMMERCIAL - St. Augustine, FL
Property Size2,080 SF
Lot Size0.19 Acres
Price / SF$367.79
Days on Market249
Property Features for 96 FRED WATERS Way
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Parking features
Gated, Parking Lot
Standard status
Active
APN
1046700000
Size
2,080 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3228
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Flooring type
Laminate, Concrete
Building materials
Block
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE
(904) 797-7442
Listed By:
JOSHUA FRENCH
(386) 882-7071
Added: Nov 20, 2025
Changed: Jul 11
Last Checked: Jul 27 at 11:06AM
MLS# 2118792
Copyright © 2026 realMLS. 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 newly constructed, 2025 block-built flex warehouse provides a configuration designed for multiple uses and potential separation of operations. The property includes two large motorized roll-up bay doors and two separate entrances, with dual electrical meters that allow the space to be split into two independently serviced units. The main unit combines warehouse space with office and support amenities, including a ground-floor office plus a full kitchen and bathroom, along with a second-story office suite with its own bath. The secondary unit is set up with warehouse space and a convenient half bath.
The building is located less than 10 minutes from downtown St. Augustine and under 15 minutes to I-95, supporting easy access for customers, staff, and deliveries. Additional site and building amenities include a rolling entrance gate, well irrigation, and air conditioning provided by energy-efficient mini-split systems.
For tenants, buyers, or owner-operators, the split-unit setup and dedicated services can support a variety of layouts, such as pairing warehouse operations with a staffed office component or maintaining two separate functional areas under one roof. With both warehouse access through roll-up doors and interior office space included in the main unit, the property is suited for businesses that want a professional environment alongside practical logistics access.
The building is located less than 10 minutes from downtown St. Augustine and under 15 minutes to I-95, supporting easy access for customers, staff, and deliveries. Additional site and building amenities include a rolling entrance gate, well irrigation, and air conditioning provided by energy-efficient mini-split systems.
For tenants, buyers, or owner-operators, the split-unit setup and dedicated services can support a variety of layouts, such as pairing warehouse operations with a staffed office component or maintaining two separate functional areas under one roof. With both warehouse access through roll-up doors and interior office space included in the main unit, the property is suited for businesses that want a professional environment alongside practical logistics access.
Key Highlights
- New 2025 block‑constructed facility (under construction) with laminate and concrete flooring
- Two large motorized roll‑up bay doors plus two separate entrances for flexible access and use
- Dual electrical meters allow the building to be split into two independently serviced units
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.9k | $24.00 |
| − Vacancy | −$11.1k | −$5.33 |
| EGI | $38.8k | $18.67 |
| − OpEx | −$9.7k | −$4.67 |
| NOI | $29.1k | $14.00 |
2,080 SF · lease $24.00/SF/yr · vacancy 22.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$416.1K
$364.1K – $485.5K
NOI $29,128 @ 7.0% cap · market cap 3.81%
Second Best
Warehouse
$254.9K
$223.1K – $297.4K
NOI $17,844 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$554.8K
$485.5K – $647.3K
NOI $38,838 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- East Coast Catering & Events — 215 W King St, St. Augustine, FL 32084
- Verdell’s Total Package DBA Verdell’S Cooking & Catering — 761 W King St, St. Augustine, FL 32084
Frequently Asked Questions
What type of property is this?
Flex space - Newer flex warehouse features two roll-up bay doors, dual entrances, and two independently serviced units for adaptable operations.
Where is this flex space located?
The property is located at 96 FRED WATERS Way St Augustine, FL.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: New 2025 block‑constructed facility (under construction) with laminate and concrete flooring; Two large motorized roll‑up bay doors plus two separate entrances for flexible access and use; Dual electrical meters allow the building to be split into two independently serviced units
