Historic Restaurant
For Sale
$1,700,000
604 Anastasia Blvd, St Augustine, FL 32080
Offered for sale as an owner-user restaurant location on Anastasia Boulevard.
Property Size4,048 SF
Days on Market78
Property Features for 604 Anastasia Blvd
General Information
Standard status
Active
Size
4,048 SF
Property subtype
Commercial
Lease Term
± 2.9 Years
Net Operating Income
$91,200
Building Details
Building Size
4,048 SF
Year Built
1964
Listing Agency:
Matthews
Listed By:
Jessica Humphreys · License #SL3654878 (FL)
(727) 615-2516
Source:
Matthews
Added: Jun 23
Changed: Sep 6
Last Checked: Sep 7 at 4:39AM
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 Matthews
Investment Insights
Based on property information with market context.
Offered for sale as an owner-user opportunity, this restaurant property is described as a proven and historic restaurant location. The asset totals 4,048 sq. ft., and is categorized for restaurant use, including breakfast and diner concepts.
The property is located at 604 Anastasia Boulevard in St. Augustine, Florida (32080).
The property is located at 604 Anastasia Boulevard in St. Augustine, Florida (32080).
Key Highlights
- Offered for sale as an owner‑user restaurant location on Anastasia Boulevard
- Year built: 1964
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
$49,019
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
2.88%
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%
$980,380
$980.4K
Cap Rate 7%
$700,271
$700.3K
Cap Rate 9%
$544,656
$544.7K
Market Conditions
NOI Build-Up for 4,048 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
$72.9K $18.00/SF
− Vacancy
−$7.5K −$1.85/SF
EGI
$65.4K $16.15/SF
− OpEx
−$16.3K −$4.04/SF
NOI
$49.0K $12.11/SF
Area
St. Johns County, FL
Vacancy
10.30%
Lease Rate
$18.00 /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%
$980,380
Cap Rate 7%
$700,271
Cap Rate 9%
$544,656
Alternative Uses
Best Use
Specialty Retail
$700.3K
$612.7K – $817.0K
NOI $49,019 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$944.8K – $1.26M
NOI $75,584 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
36k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 34%
Hotels & Casinos 8%
Mellow Mushroom
Dining
15,325 visits/mo
0.3 miles
Circle K
Shops & Services
10,886 visits/mo
0.1 miles
Cheba Hut
Dining
5,735 visits/mo
0.1 miles
Holiday Inn Express St. Augustine - Historic
Hotels & Casinos
2,970 visits/mo
0.1 miles
U-Haul
Shops & Services
1,392 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Anastasia Kitchen — 900 Anastasia Blvd E1, St. Augustine, FL 32080
- Skittles shack — 22 Comares Ave S, St. Augustine, FL 32080
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Offered for sale as an owner-user restaurant location on Anastasia Boulevard.
Where is this breakfast & diner located?
The property is located at 604 Anastasia Blvd St Augustine, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Offered for sale as an owner‑user restaurant location on Anastasia Boulevard; Year built: 1964
