9080 Us-1, St. Augustine, FL 32095

This exceptional 18.24-acre commercial land parcel presents a unique investment opportunity in the thriving St. Augustine, Florida market. Located at 9080 US-1, St. Augustine, FL 32095, this PUD-zoned property offers significant potential for high-density development. Current zoning allows for the construction of up to 202 multifamily units within four-story buildings, featuring a mix of one, two, and three-bedroom units. The site benefits from a constrained multifamily development pipeline due to a current moratorium, creating a strong competitive advantage. The property is situated within St. Johns County, boasting the #1 ranked school system in the state and 8th nationally, attracting families and contributing to high demand for housing. The Jacksonville MSA, where this property resides, experienced significant population growth, adding over 14,000 new residents between July 2022 and July 2023. The robust local economy is underscored by a May 2024 average home sale price of $457,000 and a median household income of $128,182 within a three-mile radius. Further enhancing the property's appeal is the proposed 38.4-mile First Coast Commuter Rail, connecting Jacksonville to St. Augustine with several proposed stations along the route. St. Johns County is also undertaking a substantial $588 million infrastructure investment, including $298 million in roadway projects, with key 2024 enhancements planned for Pine Island and US-1. This prime location and favorable market conditions make this an exceptional opportunity for developers seeking a high-return investment.