115 2nd St Fernandina Beach, FL 32034-4670
This exceptional mixed-use property, located at 115 South 2nd Street in the heart of historic Fernandina Beach, Florida, presents a unique investment opportunity. The building, constructed in 1925 and renovated in 1994, boasts a total of 18,088 square feet of vacant space, offering significant potential for a variety of retail or office uses. The property is zoned MU-1, allowing for flexibility in development plans. Situated on a 0.39-acre lot, the building provides ample space for both interior operations and potential exterior improvements. Parking is available at a rate of 1.81 spaces per 1,000 square feet. The property's prime location in downtown Fernandina Beach ensures high visibility and accessibility, making it an ideal location for businesses seeking a strong presence in this vibrant community. The Nassau County property, with APN 00-00-31-1800-0271-0070, offers a blend of historic charm and modern functionality, making it a truly remarkable opportunity. The single-tenant occupancy allows for a streamlined management approach. The property's zip code is 32034. This is a rare chance to acquire a substantial commercial space in a desirable location with significant upside potential.
2.01.09 Mixed Use (MU-1) The MU-1 District is intended for the development of a combination of residential, office, and limited neighborhoo d commercial uses. The Mixed-Use District encourages well -planned development and redevelopment of areas that feature compatible, interrelated uses including single-family and multi -family residential units; medical, b…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
MU-1 · Fernandina Beach, FL2.01.09 Mixed Use (MU-1) The MU-1 District is intended for the development of a combination of residential, office, and limited neighborhoo d commercial uses. The Mixed-Use District encourages well -planned development and redevelopment of areas that feature compatible, interrelated uses including single-family and multi -family residential units; medical, business, and professional offices; personal service establishments with limited inventory of goods; and limited neighborhood commercial uses. 2.01.10 8th Street Small Area Mixed Use (MU-8) The MU-8 district is intended for redevelopment of the City’s 8th Street commercial corridor to allow for a combination of residential, office, housing, and general commercial activities in a vibrant urban setting. The MU -8 district is intended to promote the 8th Street corridor as a thriving gateway to the historic downtown of Fernandina Beach through economical and efficient land use, an improved level of amenities, residential density through a variety of housing types, and a better compact, urban environment. Properties within the MU -8 district shall provide for a unified pedestrian and landscape area along the 8th Street frontage to serve as an extension of the downtown Fernandi na Beach character and design. The allowable density in the MU-8 zoning district is a maximum of 18.0 dwelling units per acre. 2.01.11 Community Commercial (C-1) The C -1 District is intended for the development of land uses to accommodate commercial businesses and offices providing goods and services to more than a few neighborhoods, and land uses that are complimentary to low - and med ium-density residential areas. The Community Commercial District recognizes the desire for convenience goods and services in close proximity to residential neighborhoods, provided that such uses are limited in intensity as set forth in the design standards in this LDC. 2.01.12 General Commercial (C-2) The C -2 District is intended for the development of land uses to accommodate offices; commercial retail; personal services establishments; restaurants; transient accommodations; uses that provide sales and services for several neighborhoods; repair shops; retail sales and services; and other similar commercial uses. The General Commercial District recognizes existing development with locations that have access to arterial roads.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
