Multifamily Property with Fire
For Sale
$690,000
236 STATE ROAD 16 St. Augustine, Saint Augustine, FL 32084
Commercial General zoning accompanies an existing multi-tenant residential layout with shared living, kitchen, laundry, and office areas.
Property Size3,813 SF
Lot Size0.39 Acres
Price / SF$180.96
Days on Market49
Property Features for 236 STATE ROAD 16 St. Augustine
General Information
Standard status
Active
Size
3,813 SF
Lot size
0.39 Acres
Property subtype
Multi Family
Zoning
Commercial General
Site & Location
Highway Access
Yes
Road Access
Yes
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Sprinkler System
Yes
Property Use
Office
Building Details
Building Size
3,813 SF
Year Built
1925
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty Atlantic Partners St. Augustine
Listed By:
Noah Bailey Group
(904) 878-4447
Source:
Noahbaileygroup
Added: Sep 14
Changed: Oct 30
Last Checked: Oct 30 at 2:22PM
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 Keller Williams Realty Atlantic Partners St. Augustine
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Investment Insights
Based on property information with market context.
This two-story multifamily property contains 3,813 SF and dates to 1925. Its current residential multi-tenant configuration includes 9 rooms, 4.5 bathrooms, 2 living rooms, a kitchen, laundry room, and office. A fire sprinkler system is installed. The property occupies 0.39 acres across 2 platted lots and has Commercial General zoning, with commercial uses subject to zoning allowances.
The site fronts State Road 16 for 122 feet and is described as having access to US-1 and I-95. Historic Downtown St. Augustine, shopping, restaurants, schools, and residential neighborhoods are also identified in the surrounding area.
The site fronts State Road 16 for 122 feet and is described as having access to US-1 and I-95. Historic Downtown St. Augustine, shopping, restaurants, schools, and residential neighborhoods are also identified in the surrounding area.
Key Highlights
- 3,813 SF, two‑story building constructed in 1925
- Current layout includes 9 rooms and 4.5 bathrooms
- 2 living rooms, kitchen, laundry room, and office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,802
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,040
$596.0K
Cap Rate 7%
$425,743
$425.7K
Cap Rate 9%
$331,133
$331.1K
Market Conditions
NOI Build-Up for 3,813 SF
Gross rent
$59.9K $15.72/SF
− Vacancy
−$5.8K −$1.51/SF
EGI
$54.2K $14.21/SF
− OpEx
−$24.4K −$6.39/SF
NOI
$29.8K $7.82/SF
Area
St. Johns County, FL
Vacancy
9.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,040
Cap Rate 7%
$425,743
Cap Rate 9%
$331,133
Alternative Uses
Best Use
Apartment 5plus
$425.7K
$372.5K – $496.7K
NOI $29,802 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$890.0K – $1.19M
NOI $71,196 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
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 Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Commercial General zoning accompanies an existing multi-tenant residential layout with shared living, kitchen, laundry, and office areas.
Where is this multifamily property located?
The property is located at 236 STATE ROAD 16 St. Augustine Saint Augustine, FL.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: 3,813 SF, two‑story building constructed in 1925; Current layout includes 9 rooms and 4.5 bathrooms; 2 living rooms, kitchen, laundry room, and office
