Renovated Four-Unit Strip
For Sale
$895,000
Pending
1639 8TH Street, Fernandina Beach, FL 32034
Commercially zoned building with individually metered spaces, private restrooms, and one currently available suite.
Property Size3,950 SF
Days on Market309
Property Features for 1639 8TH Street
General Information
Standard status
Pending
Size
3,950 SF
Property subtype
General Commercial
Zoning
Commercial Intensive
Amenities
Heat Pump
3
Paved Driveway, Driveway.
18,731
Security Lighting, Sidewalks. Curbs Walk, Paved Road.
Building Details
Year Built
1989
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
AMELIA COASTAL REALTY LLC
(904) 261-2770
Listed By:
Tara Thousand · License #3378223
Source:
Xome
Added: Oct 28, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:13PM
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 AMELIA COASTAL REALTY LLC
Investment Insights
Based on property information with market context.
This 3,950-square-foot strip mall, built in 1989, contains four individually metered commercial units, each with a private restroom. One unit is available for an owner’s business or lease, while the remaining spaces are subject to long-term leases. The building has recently renovated interiors, heat pump service, and a roof replaced in 2019.
The property fronts 150 feet along S 8th Street in Fernandina Beach, providing direct exposure along a busy commercial corridor. Paved access, sidewalks, curbs, and security lighting serve the site. Zoned Commercial Intensive and located in the county, the property supports a range of commercial uses.
The property fronts 150 feet along S 8th Street in Fernandina Beach, providing direct exposure along a busy commercial corridor. Paved access, sidewalks, curbs, and security lighting serve the site. Zoned Commercial Intensive and located in the county, the property supports a range of commercial uses.
Key Highlights
- 3,950‑square‑foot commercial building with four individually metered units
- Each unit includes a private restroom
- One unit is currently available for an owner’s business or lease
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
$44,644
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
4.99%
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%
$892,880
$892.9K
Cap Rate 7%
$637,771
$637.8K
Cap Rate 9%
$496,044
$496.0K
Market Conditions
NOI Build-Up for 3,950 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
$71.1K $18.00/SF
− Vacancy
−$7.3K −$1.85/SF
EGI
$63.8K $16.15/SF
− OpEx
−$19.1K −$4.84/SF
NOI
$44.6K $11.30/SF
Area
Nassau County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$892,880
Cap Rate 7%
$637,771
Cap Rate 9%
$496,044
Alternative Uses
Best Use
Retail
$637.8K
$558.1K – $744.1K
NOI $44,644 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$921.9K – $1.23M
NOI $73,754 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
109k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Dining 28%
Groceries 17%
Shops & Services 13%
Walmart
Superstores
42,972 visits/mo
0.3 miles
Winn-Dixie
Groceries
19,017 visits/mo
0.2 miles
McDonald's
Dining
19,001 visits/mo
0.5 miles
Taco Bell
Dining
10,346 visits/mo
0.3 miles
Bank of America
Shops & Services
4,021 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Commercially zoned building with individually metered spaces, private restrooms, and one currently available suite.
Where is this strip mall located?
The property is located at 1639 8TH Street Fernandina Beach, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 3,950‑square‑foot commercial building with four individually metered units; Each unit includes a private restroom; One unit is currently available for an owner’s business or lease
