Industrial Property with Office
For Sale
$2,499,999
1324 MATTIE Street, St Augustine, FL 32084
13,436 SF industrial property with office and warehouse space.
Property Size13,436 SF
Lot Size0.72 Acres
Price / SF$186.07
Days on Market677
Property Features for 1324 MATTIE Street
General Information
Standard status
Active
Size
13,436 SF
Lot size
0.72 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$7,064
Building Details
Year Built
1981
Listing Agency:
COLDWELL BANKER PREMIER PROPERTIES
(904) 537-6443
Listed By:
ERIC MAIMO · License #3254822
(904) 537-6443
Source:
Exitrealty
Added: Oct 1, 2024
Changed: Aug 8
Last Checked: May 19 at 8:48PM
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 PREMIER PROPERTIES
Investment Insights
Based on property information with market context.
This industrial property offers 13,436 square feet of building space on 0.71 acres. It includes 936 square feet of office space and an additional 936 square feet of mezzanine. The warehouse area features a 30-foot ceiling height, suitable for stacking and storage. Zoned Industrial Warehouse (IW), the property is suited for a range of commercial uses.
Key Highlights
- 13,436 sq ft of buildings on 0.71 acres
- Versatile Industrial Warehouse (IW) Zoning
- Highlighting the 30‑foot warehouse ceiling height.
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
$188,158
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
7.53%
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%
$3,763,160
$3.8M
Cap Rate 7%
$2,687,971
$2.7M
Cap Rate 9%
$2,090,644
$2.1M
Market Conditions
NOI Build-Up for 13,436 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
$322.5K $24.00/SF
− Vacancy
−$71.6K −$5.33/SF
EGI
$250.9K $18.67/SF
− OpEx
−$62.7K −$4.67/SF
NOI
$188.2K $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%
$3,763,160
Cap Rate 7%
$2,687,971
Cap Rate 9%
$2,090,644
Alternative Uses
Best Use
Office B
$2.69M
$2.35M – $3.14M
NOI $188,158 @ 7.0% cap · market cap 7.53%
Second Best
Warehouse
$1.65M
$1.44M – $1.92M
NOI $115,264 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$3.58M
$3.14M – $4.18M
NOI $250,877 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32084, FL
34,526
Population
17,839
Households
1.9
Avg Household Size
45
Median Age
32%
College-Educated
91%
High-School Grad
45.1 sq mi
ZIP Area
766
Density / Sq Mi
$72,965
Median Household Income
$38,611
Median Earnings
$1,534
Median Rent
$295,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Minorcan Moving & Storage Inc — 1324 Mattie St, St. Augustine, FL 32084
- Ernie's Self Storage — 956 S Rodriquez St, St. Augustine, FL 32084
- The Hardy Group Boat & RV Storage — 975B S Ponce De Leon Blvd, St. Augustine, FL 32084
- Windward at St. Augustine Shipyard — 117 Dockside Dr, St. Augustine, FL 32084
- Old Moultrie Self Storage — 1448 Old Moultrie Rd, St. Augustine, FL 32084
Frequently Asked Questions
What type of property is this?
Warehouse - 13,436 SF industrial property with office and warehouse space.
Where is this warehouse located?
The property is located at 1324 MATTIE Street St Augustine, FL.
What is the asking price?
The asking price for this property is $2,499,999.
What are key features of this property?
This property features: 13,436 sq ft of buildings on 0.71 acres; Versatile Industrial Warehouse (IW) Zoning; Highlighting the **30‑foot warehouse ceiling height.**
