Renovated Mixed-Use
New
For Sale
$959,000
585 MARKET Street, St Augustine, FL 32095
COMMERCIAL - St. Augustine, FL
Property Size3,916 SF
Lot Size0.05 Acres
Price / SF$244.89
Days on Market2
Property Features for 585 MARKET Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi Family
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 4, Bathroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 2
Parking features
Garage
Appliances
Convection Oven, Dishwasher, Disposal, Electric Cooktop, Microwave
Subdivision
Palencia
View
Golf Course
Elementary school
Palencia
Middle school
Mill Creek Academy
High school
Allen D. Nease
Directions
I-95 to International Golf East to Palencia Drive to Market Street
Standard status
Active
APN
0720950070
Size
3,916 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11214
HOA Fee
$499 Monthly
Utilities
Utilities
Electricity Available
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front
1
Amenities
tennis
gym
pools
sauna
steam room
community center
Building Details
Year built
2007
Floors in Building
3
Listing Agency:
EXIT MAGNOLIA POINT REALTY
(904) 269-4600
Listed By:
DOUGLAS SENECAL · License #3539193
(478) 390-3531
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 4:06AM
MLS# 2160066
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated mixed-use townhome provides 3,916 square feet arranged for both residential and commercial use. The property includes 5 bedrooms, 5 bathrooms, a garage, central heating, central air, and a kitchen equipped with a convection oven, dishwasher, disposal, electric cooktop, and microwave. Public water service is in place, with electricity available.
Built in 2007, the property is occupied by long-term tenants and is reported at a 7 Cap. Association dues include property insurance, maintenance, annual fire inspections, and water. Residents also have access to community amenities including tennis, a gym, pools, a sauna, a steam room, and a community center. The townhome is surrounded by a private golf course designed by Hines.
Built in 2007, the property is occupied by long-term tenants and is reported at a 7 Cap. Association dues include property insurance, maintenance, annual fire inspections, and water. Residents also have access to community amenities including tennis, a gym, pools, a sauna, a steam room, and a community center. The townhome is surrounded by a private golf course designed by Hines.
Key Highlights
- 3,916‑square‑foot mixed‑use townhome with residential and commercial components
- 5 bedrooms and 5 bathrooms
- Renovated property with long‑term tenants and a reported 7 Cap
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
$49,929
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
5.21%
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%
$998,580
$998.6K
Cap Rate 7%
$713,271
$713.3K
Cap Rate 9%
$554,767
$554.8K
Market Conditions
NOI Build-Up for 3,916 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
$94.0K $24.00/SF
− Vacancy
−$14.1K −$3.60/SF
EGI
$79.9K $20.40/SF
− OpEx
−$30.0K −$7.65/SF
NOI
$49.9K $12.75/SF
Area
St. Johns County, FL
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$998,580
Cap Rate 7%
$713,271
Cap Rate 9%
$554,767
Alternative Uses
Best Use
Mixed Use
$713.3K
$624.1K – $832.2K
NOI $49,929 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$437.2K
$382.6K – $510.1K
NOI $30,607 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$1.04M
$914.0K – $1.22M
NOI $73,120 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 32095, FL
16,607
Population
6,997
Households
2.4
Avg Household Size
42
Median Age
53%
College-Educated
96%
High-School Grad
57.4 sq mi
ZIP Area
289
Density / Sq Mi
$124,556
Median Household Income
$51,986
Median Earnings
$1,576
Median Rent
$485,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-bedroom, five-bath townhome combines residential and commercial space with garage parking and central HVAC.
Where is this mixed-use property located?
The property is located at 585 MARKET Street St Augustine, FL.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: 3,916‑square‑foot mixed‑use townhome with residential and commercial components; 5 bedrooms and 5 bathrooms; Renovated property with long‑term tenants and a reported 7 Cap
