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    92 Washington St St Augustine, FL 32084

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    92 Washington St St Augustine, FL 32084

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    • Mixed-use properties
    • 6,936 SF
    For Sale
    $2,050,000
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    Historic St. Augustine Commercial Gem For Sale
    $2,050,000
    5,903 SF

    Historic St. Augustine Commercial Gem

    Iconic 1908 building with flexible space and rooftop deck.

    92 WASHINGTON STREET, St Augustine, FL 32084
    View Listing
    Property ID
    US18-8097415
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 92 Washington St

    Year built
    1900
    Property size
    6,936 SF
    Property type
    Mixed-use properties
    Property subtype
    Multifamily properties

    Description

    Price Adjustment! Rare Commercial Gem in the Heart of Historic St. Augustine Unlock the potential of this iconic, commercially zoned property in downtown St. Augustine’s vibrant Lincolnville district. Once home to legendary performances by Ray Charles and Little Richard, this 1908 building offers over 6,900 sq ft of flexible space , a rooftop deck with sweeping city views, and rich cultural history. Currently configured as three fully independent residential condos , each unit can be leased, sold individually, or creatively converted into commercial uses —think boutique hotel, restaurant, gallery, or offices. The CL-1 zoning allows for a wide range of business opportunities in one of the city's most sought-after areas. Highlights include a grand staircase, elevator, balconies, finished attic, and off-street parking for 9 cars—a rare downtown perk. Each condo features 3 bedrooms and 2–3 bathrooms, with unique layouts including a stunning artist studio with stage. This is more than real estate—it’s a chance to own and reimagine a historic landmark at the intersection of legacy and opportunity. Additional adjacent land may be available— inquire for details.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    St Augustine
    County
    St. Johns
    State
    Florida
    Longitude
    -81.3133589
    Latitude
    29.8874356

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      Restored St. Augustine Mixed-Use Property

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      Historic St. Augustine Commercial Gem

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      Historic Retail Building in St. Augustine

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    Similar Nearby for Sale

    • New
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      Restored St. Augustine Mixed-Use Property

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      View Details
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      5,223 SF

      Historic Mixed-Use Building on San Marco

      Two-story historic masonry building in Uptown St. Augustine.
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    • $2,050,000
      5,903 SF

      Historic St. Augustine Commercial Gem

      Iconic 1908 building with flexible space and rooftop deck.
      92 Washington St, St Augustine, FL 32084
      View Details
    • $3,800,000
      8,000 SF

      Historic Retail Building in St. Augustine

      Retail building near tourist attractions with business opportunity potential.
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      View Details
    • $2,395,000
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      Iconic Mixed-Use Pomar House

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      Prime Mixed-Use Retail Building

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    Similar Nearby for Lease

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      Multi-Use Site in St. Augustine

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      Downtown St. Augustine Office Space

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      Historic Commercial Space in St. Augustine

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      Prime Commercial Space in St. Augustine

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      Historic Building with Turnkey Bakery

      Renovated commercial building with bakery, cafe, and coffee shop.
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    View Listing
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    St Augustine, FL 32084
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    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
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