Investment Overview

Marcus & Millichap is pleased to present Grand Oaks Plaza, a +/- 15,600 SF GLA shopping center located on the hard corner of 8th St and Ash St, at the base of the highly sought-after submarket of Downtown Fernandina Beach, FL 32034. The structure and parking lot are situated on 0.92 acres, and the building was built in 1954 and was most recently renovated in 2016. Adjoining the shopping center is the largest private parking lot in Historic Downtown Fernandina Beach, with 48 parking spaces. The property is located within the C-3 Central Business District that carries a maximum density of 34 dwelling units per acre, allotting substantial further development or redevelopment on the parcel. This parcel has multiple points of ingress/egress from 8th St, which has 11,500 Vehicles Per Day (VPD), Ash St, and S 9th St, providing ideal access to the tenants and customers of this center. This property also boasts 200 SF of frontage on 8th St, the main retail artery connecting the Historic Downtown Fernandina Beach with the rest of the county, and the major regional commercial thoroughfares of I-95 and US-17. Over the fifteen-year span of 2020-2035, the Bureau of Economic Business & Research (BEBR) predicts Nassau will be the seventh fastest growing county in the State of Florida (by %) with a projected population expansion of 47.5%, resulting in over 137,200 people calling Nassau home by 2035. 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.