3825 Osprey Cir St. Augustine, FL 32086
- Commercial real estate
- 4,320 SF
Current Use by Public Records
- Commercial real estate
Property Details for 3825 Osprey Cir
- Year built
- 1984
- Property size
- 4,320 SF
- Property type
- Commercial real estate
Description
This exceptional 8-unit apartment complex in St. Augustine, Florida, presents a compelling value-add opportunity. Priced at $1,250,000 ($156,250 per unit), this property boasts a current NOI of $69,960 and a pro-forma NOI of $92,543, reflecting a 5.6% current cap rate and a projected 7.4% pro-forma cap rate. The property comprises two one-story buildings, each containing four 540-square-foot units. Each unit features one bedroom, one bathroom, washer/dryer hookups, and separately metered utilities. Built in 1984, the complex sits on two separate parcels zoned residential, offering advantages in securing favorable debt and insurance terms. Currently operating at 100% occupancy, this turnkey asset benefits from its location in rapidly growing St. Johns County, Florida (12.2% growth from 2020-2022), less than 15 minutes from historic St. Augustine, a major tourist destination. The property's proximity to shopping and dining amenities, including Publix, Walmart, and Lowe's, further enhances its appeal. Significant upside potential exists through light interior upgrades and improved management practices. The low inventory of comparable properties in the area underscores this investment's unique value proposition. The total square footage is 4,320.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- St. Augustine
- County
- St. Johns
- State
- Florida
- Longitude
- -81.3457841
- Latitude
- 29.8175141
