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2450 Old Moultrie Road

St Augustine, FL 32086
  • $2,750,000
  • STATUS: Active
  • ON SITE: 15 Days
  • MLS #: 220669
UPDATED: 11 min ago
$2,750,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,587
    SQFT
  • $1,733
    $/SQFT
Neighborhood:
11
Type:
Commercial
Built:
1999
County:
Area:
11

School Ratings & Info

Description

First Coast Sotheby’s International Realty is pleased to present “Moultrie Place”, an eight (8) tenant, professional office center built in two phases of development located on Old Moultrie Road, just west of the US 1 South commercial corridor in St. Augustine, Florida. The property is strategically located on Old Moultrie Road in a mixed-use commercial and residential area, providing quick and direct access to all local major arterial roadways including US 1 South, State Roads 312 and 207 as well as Interstate 95. In addition, the property is conveniently located to local schools, universities, medical facilities and retail/restaurant trade districts. Downtown St Augustine is located about 10 minutes north of the property via US 1 South, while City of St. Augustine Beach and the Atlantic Ocean is located 10 minutes east of the property via State Road 312 with traffic counts ranging from over 35,000 to 40,000 VPD. This offering is an excellent investment opportunity for the absentee investor based on the solid long-term leases in place and strong tenant mix. Or it can accommodate an end user needing up to 3,658 SF of professional or medical office type space, subsequent to purchase. The potential gross annual income for the property at 100% occupancy is just over $258,000 with actual expenses of $60,000 and thus, a net operating income of $198,000. The current interest rates at historic lows create a significant spread between the cap rate and cost of debt, allowing investors as well as end users to enjoy tremendous returns without sacrificing quality, location, and tenant credit. The current owner has meticulously maintained the property during their sole ownership and has invested significant out-of-pocket capital not out of necessity, but by choice, motivated by their pride of ownership. In the last year, the owner has repainted the buildings and has done landscaping work and tree trimming. Built in 1999, Phase I includes a 3-story, Class A concrete block constructed, non-combustible sprinkled building with a cement tile roof. The first floor of the building consists of three (3) units: Suite 101 - 2,453 SF, Suite 103 - 1,360 SF, and Suite 104 – 1,372 SF. The second floor consists of two (2) units: Suite 201 – 2,228 SF and Suite 202 – 2,895 SF. The third flood consists of one (1) unit: Suite 301 – 1,205 SF with a roof deck. The building is serviced by a common elevator, two covered exterior stairwells, and covered walkways and building entry/exits. The total gross building is 15,345 SF with 12,253 SF of heated and cooled conditioned area and 11,513 SF of leasable area. Built in 2007, Phase II includes a 2-story, Class A concrete block constructed, joisted masonry building with a cement tile roof. The first floor of the building consists of one (1) unit: Suite A – 1,826 SF. The second floor of the building is Suite B a residential apartment with two bedrooms, two baths and first floor one car garage:1,587 SF apartment and 551 SF garage. The building is serviced by a common business entrance and rear patio on the first floor, and a covered porch and rear screen porch on the 2nd floor. The total gross building is 4,731 SF with 3,516 SF of heated and cooled conditioned area and 3,413 SF of leasable area.

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© 2022 St. Augustine & St. Johns County Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or Endless Summer Realty. Data last updated 2022-01-28T14:30:46.2.
www.endlesssummerrealty.com/homes/124694253
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2450 Old Moultrie Road St Augustine, FL 32086

  • Price: $2,750,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 11 min ago
  • MLS #: 220669
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1,587
SQFT
$1,733
$/SQFT
1999
Built
Neighborhood:
11
County:
Saint Johns
Area:
11
Property Description
First Coast Sotheby’s International Realty is pleased to present “Moultrie Place”, an eight (8) tenant, professional office center built in two phases of development located on Old Moultrie Road, just west of the US 1 South commercial corridor in St. Augustine, Florida. The property is strategically located on Old Moultrie Road in a mixed-use commercial and residential area, providing quick and direct access to all local major arterial roadways including US 1 South, State Roads 312 and 207 as well as Interstate 95. In addition, the property is conveniently located to local schools, universities, medical facilities and retail/restaurant trade districts. Downtown St Augustine is located about 10 minutes north of the property via US 1 South, while City of St. Augustine Beach and the Atlantic Ocean is located 10 minutes east of the property via State Road 312 with traffic counts ranging from over 35,000 to 40,000 VPD. This offering is an excellent investment opportunity for the absentee investor based on the solid long-term leases in place and strong tenant mix. Or it can accommodate an end user needing up to 3,658 SF of professional or medical office type space, subsequent to purchase. The potential gross annual income for the property at 100% occupancy is just over $258,000 with actual expenses of $60,000 and thus, a net operating income of $198,000. The current interest rates at historic lows create a significant spread between the cap rate and cost of debt, allowing investors as well as end users to enjoy tremendous returns without sacrificing quality, location, and tenant credit. The current owner has meticulously maintained the property during their sole ownership and has invested significant out-of-pocket capital not out of necessity, but by choice, motivated by their pride of ownership. In the last year, the owner has repainted the buildings and has done landscaping work and tree trimming. Built in 1999, Phase I includes a 3-story, Class A concrete block constructed, non-combustible sprinkled building with a cement tile roof. The first floor of the building consists of three (3) units: Suite 101 - 2,453 SF, Suite 103 - 1,360 SF, and Suite 104 – 1,372 SF. The second floor consists of two (2) units: Suite 201 – 2,228 SF and Suite 202 – 2,895 SF. The third flood consists of one (1) unit: Suite 301 – 1,205 SF with a roof deck. The building is serviced by a common elevator, two covered exterior stairwells, and covered walkways and building entry/exits. The total gross building is 15,345 SF with 12,253 SF of heated and cooled conditioned area and 11,513 SF of leasable area. Built in 2007, Phase II includes a 2-story, Class A concrete block constructed, joisted masonry building with a cement tile roof. The first floor of the building consists of one (1) unit: Suite A – 1,826 SF. The second floor of the building is Suite B a residential apartment with two bedrooms, two baths and first floor one car garage:1,587 SF apartment and 551 SF garage. The building is serviced by a common business entrance and rear patio on the first floor, and a covered porch and rear screen porch on the 2nd floor. The total gross building is 4,731 SF with 3,516 SF of heated and cooled conditioned area and 3,413 SF of leasable area.
Exterior Features

Construction MasonryStucco Foundation Concrete Location Business DistrictOffice ComplexOther-See Remarks Lot Size 1.36 Acres Misc Exterior Onsite ParkingSidewalks Parking Spaces 48 Roof Other-See Remarks

Interior Features

Flooring Concrete Heating Cooling Central A/C Misc Interior CarpetingElevatorFire Sprinkler SystemFixturesInside StorageLiving SpaceSecurity System Office Sq Ft 13339

Property Features

Bank Corporate Owned YN No Business Description Multi-Tenant Office Complex Business Name Moultrie Place Cdd YN No Commercial Type Office Building Comprehensive Plan Desig Md Electric 110 V Gas YN No Gross Annual Income 258300 Net Operating Income 198166 Operating Expenses 60134 Short Sale YN No Survey YN Yes Tax Year 2021 Taxes 13121 Tenancy Fully LeasedMultiple TenantsOther-See Remarks Tenant Pays Electric Type Of Property Office Waste Sewer Water Public Water

Listing courtesy of First Coast Sotheby's International Realty.


© 2022 St. Augustine & St. Johns County Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or Endless Summer Realty. Data last updated 2022-01-28T14:30:46.2.
 
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Endless Summer Realty
521 A1A Beach Blvd
St. Augustine FL, 32080