Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Small Commercial Office/Retail Building Title is generated by Realmo AI

    67 MASTERS DR, Saint Augustine, FL 32084

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Lease a small, low-intensity commercial building in a CL-1 district suitable for neighborhood-serving office and retail uses.

    Type:Retail, Office
    Property size:
    1,238 SF
    Added:
    May 28, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 1 at 2:27 pm

    Property Features for 67 MASTERS DR

    General Information

    Standard status
    Active
    Size
    1,238 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1928

    Spaces For Lease

    at 67 MASTERS DR Contact us

    We can help!

    Listing Contact
    Zach Lemke, CCIM
    Zach Lemke, CCIM

    Listing agent Zach Lemke, CCIM License #FL SL3518305

    Listing office Market Force CRE- Zach Lemke - PRO

    Listing date May 28, 2026

    Source Crexi

    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 Market Force CRE- Zach Lemke - PRO

    HighLights

    • Approximately 1,238 SF small‑format commercial building available for lease at 67 Masters Drive
    • Zoned Commercial Low‑One (CL‑1) in the City of St. Augustine for low‑intensity, neighborhood‑serving commercial uses
    • Year built: 1928
    • Potential uses within CL‑1 may include professional/business offices, boutique/specialty retail, hair salon, florist or gift shop, and art/photographic studio
    • Restaurant use up to 100 seats is permitted, excluding drive‑in or fast food
    • Other examples of potential CL‑1 uses include tourist home or bed and breakfast inn, antique shop, and health club or facility (subject to code and City approval)

    Overview

    67 Masters Drive is a small-format commercial building offered for lease, totaling approximately 1,238 square feet. The property is zoned Commercial Low-One (CL-1), which is designed for low-intensity, neighborhood-serving commercial activities. This zoning structure supports a range of uses, including professional and business offices, boutique and specialty retail, and a variety of service-oriented businesses.

    The City of St. Augustine CL-1 zoning district may accommodate uses such as hair salon, florist or gift shop, bake shop, sporting goods, art or photographic supplies, jewelry with repair (excluding pawn shops), photographic or art studio, dance or music studio, and tailoring. The zoning also contemplates certain restaurants up to 100 seats, excluding drive-in or fast food, along with select health club or facility uses. Additional options may be considered by exception, including medical or dental clinic, subject to City approval.

    For tenants seeking a manageable commercial footprint in an established St. Augustine corridor, the CL-1 designation provides a practical platform for professional offices, specialty retail, and other low-intensity concepts aligned with neighborhood services. The property’s small size can be well-suited for operators looking for a focused location that fits within the intent of the City’s low-intensity commercial zoning.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Flower Works — 510 N Ponce De Leon Blvd, St. Augustine, FL 32084
    • Florium - Floral Event Studio — 510 N Ponce De Leon Blvd, St. Augustine, FL 32084

    Location Insight

    • Map
    • Local Demand
    City
    Saint Augustine
    County
    St. Johns
    State
    Florida
    Longitude
    -81.3314515
    Latitude
    29.8994045

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      FL, Saint Augustine - West Town Place

      315 Town Pl, Saint Augustine, FL 32095
      View Details
    • $3,813/Mo
      1,500 SF

      New Freestanding Building For Lease

      Newly constructed building in high-demand market, suites available now.
      481 Shores Blvd, Saint Augustine, FL
      View Details
    • Contact for pricing

      Publix Anchored Shopping Center Space

      Retail and office spaces available in a busy shopping center.
      84 Tuscan Way, Saint Augustine, FL 32092
      View Details
    • Contact for pricing

      St. Augustine Retail/Office Space

      Retail or office space in St. Augustine, Florida.
      303 Anastasia Blvd, Saint Augustine, FL 32080
      View Details
    • $12 SF/Yr
      30,000 SF

      New Industrial Buildings For Lease

      Two new Class A industrial buildings available for lease.
      2449 Dobbs Rd, Saint Augustine, FL
      View Details
    • $25 SF/Yr
      7,444 SF

      Anastasia Blvd Retail Opportunity

      7,444 SF retail space on high-traffic Anastasia Blvd.
      201 Anastasia Blvd, Saint Augustine, FL
      View Details
    • Contact for pricing
      13,260 SF

      Industrial/Flex Space Near Flagler Hospital

      Industrial/flex space available for lease near major transportation routes.
      7 San Bartola Dr, Saint Augustine, FL 32086
      View Details
    • $12 SF/Yr
      6,000 SF

      Industrial Warehouse Space Available

      6,000 SF industrial warehouse space for lease.
      2685 Rolling Hills Dr, Saint Augustine, FL
      View Details
    • $32 SF/Yr
      13,000 SF

      New Construction Retail/Office Space

      New construction retail and office space in growing area.
      0 FL-16, St Augustine, FL
      View Details
    • $20 SF/Yr
      1,610 SF

      Flex Space with Retail Frontage

      Flex space featuring retail frontage, open layout, and roll-up doors.
      6236 US-1 N, St Augustine, FL
      View Details
    • Contact for pricing
      1,500 SF

      St. Augustine Industrial/Flex Space

      Climate-controlled industrial/flex space with easy access to major highways.
      Saint Augustine, FL 32084
      View Details
    • Contact for pricing

      Retail Space in St. Augustine

      Retail opportunity in St. Augustine's main retail destination.
      1795 US Hwy 1 S, Saint Augustine, FL 32086
      View Details

    FAQs

    What type of property is this?
    Storefront property - Lease a small, low-intensity commercial building in a CL-1 district suitable for neighborhood-serving office and retail uses.
    Where is this storefront property located?
    The property is located at 67 MASTERS DR Saint Augustine, FL.
    What are key features of this property?
    This property features: Approximately 1,238 SF small‑format commercial building available for lease at 67 Masters Drive; Zoned Commercial Low‑One (CL‑1) in the City of St. Augustine for low‑intensity, neighborhood‑serving commercial uses; Year built: 1928
    (904) 501-5210 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zach Lemke, CCIM
    Zach Lemke, CCIM
    Real Estate License ID: FL SL3518305
    Learn More
    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
    67 MASTERS DR, SAINT AUGUSTINE, FL
    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!