Office/Retail Building with Open
For Sale
Contact for pricing
Pending
103 Anastasia Blvd, St Augustine, FL 32080
Concrete-block office/retail building with metal roof and open space, ready for buildout with substantial roadway frontage.
Property Size2,400 SF
Lot Size0.29 Acres
Days on Market61
Property Features for 103 Anastasia Blvd
General Information
Standard status
Pending
Size
2,400 SF
Total Parking Spaces
20
Lot size
0.29 Acres
Property subtype
Office
Zoning
CL-2
Building Details
Year Built
1966
Buildings
1
Listing Agency:
Coldwell Banker Commercial Premier Saint Augustine
(904) 814-2080
Listed By:
Rich O'Brien · License #FL
Source:
Crexi
Added: Jun 19
Changed: Aug 16
Last Checked: Aug 14 at 7:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Premier Saint Augustine
Investment Insights
Based on property information with market context.
This concrete block office/retail building offers a completely open interior with no partitions, making it well-suited for a tenant-driven buildout. The property includes a metal roof and sits on a 0.29-acre parcel with paved parking. Fronting Anastasia Blvd, the site provides approximately 126 feet of frontage and a paved parking lot with space for about 20 vehicles.
The property is located at 103 Anastasia Blvd on Anastasia Island. Access is via Anastasia Blvd, and the building is positioned just before a Historic Inn per the provided directions.
With CL-2 zoning (as stated), the building is positioned for a range of commercial uses, including retail outlet, service establishment, restaurant, hotel, and office building, among others. Its open layout and ready-for-buildout condition can support multiple operational concepts, from flexible retail or service needs to office-style environments, while maintaining straightforward site access and parking for customers or visitors.
The property is located at 103 Anastasia Blvd on Anastasia Island. Access is via Anastasia Blvd, and the building is positioned just before a Historic Inn per the provided directions.
With CL-2 zoning (as stated), the building is positioned for a range of commercial uses, including retail outlet, service establishment, restaurant, hotel, and office building, among others. Its open layout and ready-for-buildout condition can support multiple operational concepts, from flexible retail or service needs to office-style environments, while maintaining straightforward site access and parking for customers or visitors.
Key Highlights
- 2,400 SF concrete‑block office/retail building with metal roof
- 126 ft frontage on Anastasia Blvd on a 0.29‑acre parcel
- Paved parking lot 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
—
—
no second resolved use
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
Location Intelligence
Trade Area within ½ mile
253
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 building - Concrete-block office/retail building with metal roof and open space, ready for buildout with substantial roadway frontage.
Where is this office building 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 SF concrete‑block office/retail building with metal roof; 126 ft frontage on Anastasia Blvd on a 0.29‑acre parcel; Paved parking lot for approximately 20 vehicles
