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Mixed-Use

3070 US-1

3070 US-1, St. Augustine, FL 32086

Listing Price: $5,200,000

Cap Rate
4.01%
Number of Suites
2
Gross SF
32,634
Rentable SF
32,634
Price/Gross SF
$159.34
Lot Size
2.60 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to present a 32,634 SF mixed-use freestanding building located at 3070 US Highway 1 in St. Augustine, FL. With approximately 250 feet of frontage on US Hwy 1, the main north/south artery in and surrounding St. Augustine with 40,000 Vehicles Per Day (VPD), this property has great visibility and curb appeal. Situated on 2.6 acres, the structure was built in 2006, the roof was most recently renovated in 2023, and has been occupied by Mattress Firm since 2014. Currently, they occupy 74% of the building, 24,153 SF, and are scheduled to relocate on or before 8/31/26 into adjacent 8,481 SF and pay more than double their current Rent/SF. The 24,153 SF space has a dock-high door and an open floor plan that can be utilized for retail, hybrid, flex, medical office, or as a last-mile fulfillment center with commercial general (CG) zoning. With a pro-forma lease-up of the vacant space at $15/SF NNN, a 10.07% cap rate is achievable in year 2 of ownership.

Within 5 miles of this property, there are 71,286 people in the heart of St. Johns County which is the 4th fastest growing county in the United States. According to the Bureau of Economic and Business Research at the University of Florida, St. Johns County is expected to grow its population by ~52% over the next 25 years, from 337,400 people in 2025 to 513,900 in 2050.

Investment Highlights

  • 24,153 SF Available For Lease With a Dock High Door
  • Year 2 Cap Rate of 10.07% Achievable With Pro-Forma Lease-Up of 24,153 SF Space
  • Approximately 250 Feet of Frontage on US Hwy 1, the Main North/South Artery in and Surrounding St. Augustine, With 40,000 Vehicles Per Day (VPD)
  • Upon Relocation, Mattress Firm Will Pay More Than Double Their Current Rent/SF
  • Zoned Commercial General (CG) Enabling a Wide Range of Uses

Exclusively Listed By

Financing By

Listing Price: $5,200,000

Cap Rate
4.01%
Number of Suites
2
Gross SF
32,634
Rentable SF
32,634
Price/Gross SF
$159.34
Lot Size
2.60 acres
Year Built
2006

Investment Highlights

  • 24,153 SF Available For Lease With a Dock High Door
  • Year 2 Cap Rate of 10.07% Achievable With Pro-Forma Lease-Up of 24,153 SF Space
  • Approximately 250 Feet of Frontage on US Hwy 1, the Main North/South Artery in and Surrounding St. Augustine, With 40,000 Vehicles Per Day (VPD)
  • Upon Relocation, Mattress Firm Will Pay More Than Double Their Current Rent/SF
  • Zoned Commercial General (CG) Enabling a Wide Range of Uses

Investment Overview

Marcus & Millichap is pleased to present a 32,634 SF mixed-use freestanding building located at 3070 US Highway 1 in St. Augustine, FL. With approximately 250 feet of frontage on US Hwy 1, the main north/south artery in and surrounding St. Augustine with 40,000 Vehicles Per Day (VPD), this property has great visibility and curb appeal. Situated on 2.6 acres, the structure was built in 2006, the roof was most recently renovated in 2023, and has been occupied by Mattress Firm since 2014. Currently, they occupy 74% of the building, 24,153 SF, and are scheduled to relocate on or before 8/31/26 into adjacent 8,481 SF and pay more than double their current Rent/SF. The 24,153 SF space has a dock-high door and an open floor plan that can be utilized for retail, hybrid, flex, medical office, or as a last-mile fulfillment center with commercial general (CG) zoning. With a pro-forma lease-up of the vacant space at $15/SF NNN, a 10.07% cap rate is achievable in year 2 of ownership. Within 5 miles of this property, there are 71,286 people in the heart of St. Johns County which is the 4th fastest growing county in the United States. According to the Bureau of Economic and Business Research at the University of Florida, St. Johns County is expected to grow its population by ~52% over the next 25 years, from 337,400 people in 2025 to 513,900 in 2050.

Exclusively Listed By

Financing By

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