Restored Mixed-Use
For Sale
$649,000
55 S Dixie Hwy, St Augustine, FL 32084
Two-level property combines leased office space with a furnished apartment operating as a vacation rental.
Property Size1,920 SF
Price / SF$338.02
Days on Market192
Property Features for 55 S Dixie Hwy
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Buildings
1
Tenancy
Single
Listing Agency:
ENDLESS SUMMER REALTY
Listed By:
GREGORY MCCARTHY · License #3302799
(904) 860-9827
Source:
Myfirstcoasthomesearch
Added: Feb 25
Changed: Sep 4
Last Checked: Sep 4 at 3:00PM
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 ENDLESS SUMMER REALTY
Investment Insights
Based on property information with market context.
This 1,920-square-foot mixed-use property, built in 1925, has been extensively restored with a new roof, windows, electrical system, plumbing, and siding. The first floor is leased for office use through October 2026. A furnished two-bedroom apartment occupies the upper level and operates as a vacation rental, with nearly 250 booked nights each year.
The property is located within easy reach of St. Augustine’s historic district, dining, and local attractions. Its two-level configuration brings together an established office tenancy and an upstairs residential rental component in a single building. Showings are available by appointment.
The property is located within easy reach of St. Augustine’s historic district, dining, and local attractions. Its two-level configuration brings together an established office tenancy and an upstairs residential rental component in a single building. Showings are available by appointment.
Key Highlights
- 1,920‑square‑foot mixed‑use property built in 1925
- First‑floor office lease runs through October 2026
- Furnished two‑bedroom apartment on the upper level
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
$26,888
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
4.14%
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%
$537,760
$537.8K
Cap Rate 7%
$384,114
$384.1K
Cap Rate 9%
$298,756
$298.8K
Market Conditions
NOI Build-Up for 1,920 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
$46.1K $24.00/SF
− Vacancy
−$10.2K −$5.33/SF
EGI
$35.9K $18.67/SF
− OpEx
−$9.0K −$4.67/SF
NOI
$26.9K $14.00/SF
Area
St. Johns 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%
$537,760
Cap Rate 7%
$384,114
Cap Rate 9%
$298,756
Alternative Uses
Best Use
Office B
$384.1K
$336.1K – $448.1K
NOI $26,888 @ 7.0% cap · market cap 4.14%
Second Best
Mixed Use
$349.7K
$306.0K – $408.0K
NOI $24,480 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$512.1K
$448.1K – $597.5K
NOI $35,850 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
991
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combines leased office space with a furnished apartment operating as a vacation rental.
Where is this mixed-use property located?
The property is located at 55 S Dixie Hwy St Augustine, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 1,920‑square‑foot mixed‑use property built in 1925; First‑floor office lease runs through October 2026; Furnished two‑bedroom apartment on the upper level
