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Shopping Strip

Shoppes on 3rd

25 S 3rd St, Fernandina Beach, FL 32034

Listing Price: $1,586,000

Cap Rate
4.20%
Gross SF
4,620
Rentable SF
3,231
Price/Gross SF
$343.29
Lot Size
0.23 acres
Year Built
1919

Investment Overview

Marcus and Millichap is pleased to present the subject property, Shoppes on 3rd. The subject property is in a highly sought-after submarket of Fernandina Beach, situated on the hard corner of Ash Street and Third Street in the heart of downtown Fernandina Beach, FL. Located a few blocks east of the Amelia River, the two historic buildings were built in 1919 and 1923, respectively. The Shoppes on 3rd present a unique value-add opportunity with current tenants and additional development on the rear of the parcel. The current owners have building plans for a four-story mixed-use retail/multifamily structure that will be transferred with the property. This rare investment opportunity enables a potential buyer the ability to capture income from the current tenants, as well as capitalize on potential development upside in an established and fertile environment. Over the coming decade (2020-2030), the Bureau of Economic Business & Research predicts that Nassau County will be the sixth fastest-growing county in the State of Florida (by %) with a projected population expansion of 36% resulting in over 121,600 people calling Nassau County home by 2030. Tourism is Nassau County's largest job creator and is the leading driver of the economy. The heart of tourism in Nassau County is historic downtown Fernandina Beach.

Investment Highlights

  • Located in the Heart of Downtown Fernandina Beach, FL
  • Stable Current In-Place Cash-Flows
  • Historic Designation For Both Retail Properties
  • Included Mixed-Use Development Plans For Vacant Land
  • Built-In Annual Increases For Current Tenants
  • Ample Street Parking

Exclusively Listed By

Financing By

Listing Price: $1,586,000

Cap Rate
4.20%
Gross SF
4,620
Rentable SF
3,231
Price/Gross SF
$343.29
Lot Size
0.23 acres
Year Built
1919

Investment Highlights

  • Located in the Heart of Downtown Fernandina Beach, FL
  • Stable Current In-Place Cash-Flows
  • Historic Designation For Both Retail Properties
  • Included Mixed-Use Development Plans For Vacant Land
  • Built-In Annual Increases For Current Tenants
  • Ample Street Parking

Investment Overview

Marcus and Millichap is pleased to present the subject property, Shoppes on 3rd. The subject property is in a highly sought-after submarket of Fernandina Beach, situated on the hard corner of Ash Street and Third Street in the heart of downtown Fernandina Beach, FL. Located a few blocks east of the Amelia River, the two historic buildings were built in 1919 and 1923, respectively. The Shoppes on 3rd present a unique value-add opportunity with current tenants and additional development on the rear of the parcel. The current owners have building plans for a four-story mixed-use retail/multifamily structure that will be transferred with the property. This rare investment opportunity enables a potential buyer the ability to capture income from the current tenants, as well as capitalize on potential development upside in an established and fertile environment. Over the coming decade (2020-2030), the Bureau of Economic Business & Research predicts that Nassau County will be the sixth fastest-growing county in the State of Florida (by %) with a projected population expansion of 36% resulting in over 121,600 people calling Nassau County home by 2030. Tourism is Nassau County's largest job creator and is the leading driver of the economy. The heart of tourism in Nassau County is historic downtown Fernandina Beach.

Exclusively Listed By

Financing By

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