Historic Downtown Office
New
For Sale
$1,649,000
22 N 4th St Fernandina, Fernandina Beach, FL 32034
C-3-zoned commercial property near Centre Street’s shops, restaurants, services, and downtown business activity.
Property Size3,754 SF
Days on Market5
Property Features for 22 N 4th St Fernandina
General Information
Standard status
Active
Size
3,754 SF
Class
B
Property subtype
Executive/Shared Suites
Zoning
C-3
Building Details
Building Size
3,754 SF
Listing Agency:
Berkshire Hathaway Homeservices Heymann Williams Realty
(404) 516-1367
Listed By:
Antoinette Ferry
(404) 516-1367
Source:
Thebrokerlist
Added: Aug 19
Changed: Aug 21
Last Checked: Aug 23 at 2:29AM
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 Berkshire Hathaway Homeservices Heymann Williams Realty
Investment Insights
Based on property information with market context.
Located at 22 N 4th St in Fernandina Beach’s Downtown Historic District, this C-3 commercial property is classified as office units and offers a setting suited to professional office use. The historic district includes late-19th- and early-20th-century architecture, locally owned businesses, restaurants, galleries, and professional services.
The property sits just off Centre Street, the central commercial corridor of historic downtown, with the district’s core activity extending between Front and 5th Streets. Its walkable setting places the address near shops, dining, lodging, waterfront amenities, and downtown services. Potential concepts identified for the property include executive or professional office suites, boutique hospitality, multifamily or residential redevelopment, and combined residential-commercial use. Any proposed use remains subject to applicable zoning, historic district requirements, parking standards, building codes, occupancy requirements, and City approvals.
The property sits just off Centre Street, the central commercial corridor of historic downtown, with the district’s core activity extending between Front and 5th Streets. Its walkable setting places the address near shops, dining, lodging, waterfront amenities, and downtown services. Potential concepts identified for the property include executive or professional office suites, boutique hospitality, multifamily or residential redevelopment, and combined residential-commercial use. Any proposed use remains subject to applicable zoning, historic district requirements, parking standards, building codes, occupancy requirements, and City approvals.
Key Highlights
- C‑3 commercial zoning
- 22 N 4th St address in Fernandina Beach’s Downtown Historic District
- Just off Centre Street, between Front and 5th Streets
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
$52,571
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
3.19%
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%
$1,051,420
$1.1M
Cap Rate 7%
$751,014
$751.0K
Cap Rate 9%
$584,122
$584.1K
Market Conditions
NOI Build-Up for 3,754 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
$90.1K $24.00/SF
− Vacancy
−$20.0K −$5.33/SF
EGI
$70.1K $18.67/SF
− OpEx
−$17.5K −$4.67/SF
NOI
$52.6K $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 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%
$1,051,420
Cap Rate 7%
$751,014
Cap Rate 9%
$584,122
Alternative Uses
Best Use
Office B
$751.0K
$657.1K – $876.2K
NOI $52,571 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$876.2K – $1.17M
NOI $70,095 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - C-3-zoned commercial property near Centre Street’s shops, restaurants, services, and downtown business activity.
Where is this office units located?
The property is located at 22 N 4th St Fernandina Fernandina Beach, FL.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: C‑3 commercial zoning; 22 N 4th St address in Fernandina Beach’s Downtown Historic District; Just off Centre Street, between Front and 5th Streets
