Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Six-Unit Multifamily Townhome Near Beach Title is generated by Realmo AI

    348 TARPON Avenue, Fernandina Beach, FL 32034

    View on Map
    Claim this Listing
    For Sale
    $1,750,000

    Six-unit multifamily property near the beach with long-term tenants.

    Type:Multi-Family
    Property size:
    6,120 SF
    Price / SF:
    $285/SF
    Added:
    Aug 10, 2025
    Days on Market:
    297
    Last Refresh:
    May 13 at 8:08 pm

    Property Features for 348 TARPON Avenue

    General Information

    Standard status
    Active
    Size
    6,120 SF
    Property subtype
    Multi-Family

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Kenny Giacco

    Listing agent Kenny Giacco

    Listing office DIAMOND REALTY GROUP OF AMELIA

    Listing date Aug 10, 2025

    Source Xome

    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 DIAMOND REALTY GROUP OF AMELIA

    HighLights

    • Rare opportunity: First time on the market for this meticulously maintained 6‑unit townhome‑style multifamily property.
    • Prime location: Short walk to the beach, Main Beach park, Sand Bar and Salt Life restaurants; bicycle to downtown Fernandina Beach.
    • Income potential: Current rent roll is well below market value, offering significant upside.
    • Desirable unit features: Each unit is 2 bedroom, 1.5 bath, 1020SF, with washer/dryer hookup closet.
    • Individual utilities: Each unit has individual water and electric meters.
    • Durable construction: CBS construction with a metal roof.

    Overview

    This is a one-of-a-kind, CBS, six-unit townhome-style multifamily property a short walk from the beach. Each unit features 2 bedrooms and 1.5 baths within 1020 square feet. The property has individual water and electric meters, and each unit includes a washer/dryer hookup closet. The current rent roll is well below market value. The property has been meticulously maintained by the owner who originally had it built. It is located within walking distance of the beach, Main Beach Park, Sand Bar, and Salt Life restaurants, and is also accessible by bicycle to downtown Fernandina Beach. The property is being sold using a "FARBAR AS-IS" Contract only. It can be purchased along with 342 and 344 Tarpon Avenue for a total of 10 units. Income and expense information is available to qualified buyers. Short-term rentals are not permitted.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Gym & Fitness Center HVAC Service Bar & Pub Grocery & Convenience Store Electronics & Wireless Store Hotel & Motel Bed & Breakfast Restaurant

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fernandina Beach
    County
    Nassau
    State
    Florida
    Longitude
    -81.4316213
    Latitude
    30.6715146

    Nearby Similar for Sale

    • $789,000
      1,310 SF

      Commercial Property Near Amelia Island

      Commercial property near the beach with high visibility and flexible zoning.
      2477 SADLER Road, Fernandina Beach, FL 32034
      View Details
    • $899,000

      Historic City Mart Commercial Unit

      Ground-level commercial unit in Fernandina Beach's historic downtown.
      5 S 3RD Street, Fernandina Beach, FL 32034
      View Details
    • $899,000
      2,733 SF

      Ocean-View Duplex on Fletcher Avenue

      Prime income property with ocean views and flexible living spaces.
      2337 S FLETCHER Avenue, Fernandina Beach, FL 32034
      View Details
    • $780,000

      Historic Triplex in Downtown Fernandina

      Charming triplex in historic downtown Fernandina Beach, Florida.
      514 S 6TH Street, Fernandina Beach, FL 32034
      View Details
    • $2,900,000
      6,100 SF

      Historic Amelia Island Commercial Property

      6,100 sqft commercial property in the heart of Amelia Island.
      101 CENTRE Street, Fernandina Beach, FL 32034
      View Details
    • $1,600,000
      5,000 SF

      Fernandina Beach Special Purpose Building

      5,000 SF building in Fernandina Beach, ideal for educational use.
      1986 Citrona Dr, Fernandina Beach, FL 32034
      View Details
    • $765,000
      2,766 SF

      Fernandina Beach Golf Course Residence

      Elegant home in gated community with golf membership included.
      94038 HEMLOCK Court, Fernandina Beach, FL 32034
      View Details
    • $375,000
      612 SF

      Unique Live-Work Space with Loft

      Custom-designed live-work space with open loft and high-end finishes.
      960185 Gateway Blvd, Fernandina Beach, FL, 32034-7841
      View Details
    • $395,000

      Land Near Fernandina Beach

      R-3 zoned land ideal for short-term rentals near the beach.
      1965 S FLETCHER Avenue, Fernandina Beach, FL 32034
      View Details
    • Contact for pricing

      Prime Restaurant Ready Location

      High-visibility site ideal for restaurant or retail businesses.
      1940 South 8th Street, Fernandina Beach, FL 32034
      View Details
    • $395,000

      Land Near Fernandina Beach

      R-3 zoned land ideal for short-term rentals near the beach.
      1961 S FLETCHER Avenue, Fernandina Beach, FL 32034
      View Details
    • $2,200,000
      3,858 SF

      Centre Street Office Building For Sale

      3,858 SF office building with five parking spaces.
      500 Centre St, Fernandina Beach, FL
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six-unit multifamily property near the beach with long-term tenants.
    Where is this apartment building located?
    The property is located at 348 TARPON Avenue Fernandina Beach, FL.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Rare opportunity: First time on the market for this meticulously maintained 6‑unit townhome‑style multifamily property.; Prime location: Short walk to the beach, Main Beach park, Sand Bar and Salt Life restaurants; bicycle to downtown Fernandina Beach.; Income potential: Current rent roll is well below market value, offering significant upside.
    (904) 277-9700
    We can help!
    Listing Contact
    Kenny Giacco
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    348 TARPON Avenue, Fernandina Beach, FL 32034
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!