Historic Mixed-Use
218 Ash Street, Fernandina Beach, FL 32034
For Sale
$1,250,000
Restaurant space, three upper-level offices, and a separate side suite provide several distinct areas within the building.
Property Size3,342 SF
Lot Size0.11 Acres
Price / SF$374.03
Days on Market249
Property Features for 218 Ash Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Patio
Office Units
Currently Operating
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
patio
courtyard seating area
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
SUMMER HOUSE REALTY
(904) 557-3020
Listed By:
ROBERT G MULLINS JR
(904) 507-3319
Source:
Boldandsold
Added: Mar 4
Changed: Nov 4
Last Checked: Nov 7 at 12:51AM
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 SUMMER HOUSE REALTY
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Investment Insights
Based on property information with market context.
This historic, two-story commercial property contains 3,342 square feet. The ground floor is occupied by a restaurant with patio and courtyard seating. A new roof has been installed on the main building. Upstairs, three office suites share a bathroom and can be leased separately or together. A separate ground-floor suite has two rooms, a bathroom, and rear storage.
The property is in downtown Fernandina Beach’s historic district, on a 100×50 corner lot. Its mix of restaurant, office, and separate suite space supports a range of commercial occupancy configurations.
The property is in downtown Fernandina Beach’s historic district, on a 100×50 corner lot. Its mix of restaurant, office, and separate suite space supports a range of commercial occupancy configurations.
Key Highlights
- 3,342‑square‑foot, two‑story historic commercial building
- Restaurant with patio and courtyard seating on the main level
- Three second‑floor office suites share a bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,801
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$936,020
$936.0K
Cap Rate 7%
$668,586
$668.6K
Cap Rate 9%
$520,011
$520.0K
Market Conditions
NOI Build-Up for 3,342 SF
Gross rent
$80.2K $24.00/SF
− Vacancy
−$17.8K −$5.33/SF
EGI
$62.4K $18.67/SF
− OpEx
−$15.6K −$4.67/SF
NOI
$46.8K $14.00/SF
Area
Nassau 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 Rate 5%
$936,020
Cap Rate 7%
$668,586
Cap Rate 9%
$520,011
Alternative Uses
Best Use
Office B
$668.6K
$585.0K – $780.0K
NOI $46,801 @ 7.0% cap · market cap 3.74%
Second Best
Mixed Use
$608.7K
$532.6K – $710.2K
NOI $42,611 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$891.5K
$780.0K – $1.04M
NOI $62,402 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space, three upper-level offices, and a separate side suite provide several distinct areas within the building.
Where is this mixed-use property located?
The property is located at 218 Ash Street Fernandina Beach, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,342‑square‑foot, two‑story historic commercial building; Restaurant with patio and courtyard seating on the main level; Three second‑floor office suites share a bathroom
