Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale the fee simple interest in the two-parcel oceanfront land site located in Fernandina Beach, Florida, a city on the northern-most point of Florida's Atlantic Coast. The site was permitted in 2023 for construction of a 56-room hotel branded Tapestry Collection by Hilton, but the owner elected not to proceed. Fernandina Beach is located on Amelia Island and is one of the principal municipalities making up the greater Jacksonville area. The site contains two adjacent, commercially-zoned oceanfront parcels and was once permitted for a 56-room hotel, Tapestry Collection by Hilton. Directly adjacent to the south of the subject property is a separate +/- 0.49-acre parcel, which is also offered for sale as an assemblage, that contains an existing 6-unit apartment complex to help offset any carrying costs. The addition of the third parcel likely would increase the number of buildable rooms to roughly 87, based on the ratio of previously approved rooms on the smaller site to the total acreage of the assemblage. The parcel to the south can be acquired separately from the two-parcel 1962 and 1974 S. Fletcher Avenue site providing a new owner the opportunity to build a sizeable oceanfront project within one of the higher RevPAR leisure markets in Florida.