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844 Anastasia Blvd, St Augustine, FL 32080
Existing businesses occupy the center, with an additional lot available for tenant use or parking.
Property Size26,485 SF
Price / SF$245.23
Days on Market10
Property Features for 844 Anastasia Blvd
General Information
Standard status
Active
Size
26,485 SF
Property subtype
Retail
Occupancy
82%
Net Operating Income
$454,760
Building Details
Year Built
1952
Buildings
1
Stories
1
Units
16
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Premier Saint Augustine
Listed By:
Adam Lanteigne · License #FL
Source:
Crexi
Added: Aug 14
Changed: Aug 22
Last Checked: Aug 22 at 4:02PM
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 Coldwell Banker Commercial Premier Saint Augustine
Investment Insights
Based on property information with market context.
This 26,485-square-foot shopping center on Anastasia Boulevard includes multiple established businesses already operating on-site. The property is suited to retail, showroom, service, and professional uses, providing a multi-tenant commercial format along a prominent corridor.
Located at 844 Anastasia Blvd in Saint Augustine, the center connects the downtown area with the beaches and offers access to nearby residential neighborhoods on Anastasia Island. An additional lot on Palmetto Avenue is available for tenant use or parking, adding flexibility to the existing property configuration.
Located at 844 Anastasia Blvd in Saint Augustine, the center connects the downtown area with the beaches and offers access to nearby residential neighborhoods on Anastasia Island. An additional lot on Palmetto Avenue is available for tenant use or parking, adding flexibility to the existing property configuration.
Key Highlights
- 26,485‑square‑foot shopping center on Anastasia Boulevard
- Multiple established businesses currently operate on‑site
- Additional lot on Palmetto Avenue available for tenant use or parking
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
$299,339
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
4.61%
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%
$5,986,780
$6.0M
Cap Rate 7%
$4,276,271
$4.3M
Cap Rate 9%
$3,325,989
$3.3M
Market Conditions
NOI Build-Up for 26,485 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
$476.7K $18.00/SF
− Vacancy
−$49.1K −$1.85/SF
EGI
$427.6K $16.15/SF
− OpEx
−$128.3K −$4.84/SF
NOI
$299.3K $11.30/SF
Area
St. Johns County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$5,986,780
Cap Rate 7%
$4,276,271
Cap Rate 9%
$3,325,989
Alternative Uses
Best Use
Retail
$4.28M
$3.74M – $4.99M
NOI $299,339 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.06M
$6.18M – $8.24M
NOI $494,528 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 34%
Hotels & Casinos 8%
Mellow Mushroom
Dining
15,325 visits/mo
0.4 miles
Circle K
Shops & Services
10,886 visits/mo
0.2 miles
Cheba Hut
Dining
5,735 visits/mo
0.2 miles
Holiday Inn Express St. Augustine - Historic
Hotels & Casinos
2,970 visits/mo
0.2 miles
U-Haul
Shops & Services
1,392 visits/mo
0.1 miles
Demographics for 32080, FL
21,889
Population
16,658
Households
1.3
Avg Household Size
57
Median Age
50%
College-Educated
96%
High-School Grad
15.7 sq mi
ZIP Area
1,394
Density / Sq Mi
$91,201
Median Household Income
$49,302
Median Earnings
$1,631
Median Rent
$497,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Existing businesses occupy the center, with an additional lot available for tenant use or parking.
Where is this shopping center located?
The property is located at 844 Anastasia Blvd St Augustine, FL.
What is the asking price?
The asking price for this property is $6,495,000.
What are key features of this property?
This property features: 26,485‑square‑foot shopping center on Anastasia Boulevard; Multiple established businesses currently operate on‑site; Additional lot on Palmetto Avenue available for tenant use or parking
