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Shopping Strip

Grand Oaks Plaza | Multifamily Development

22 S 8th St, Fernandina Beach, FL 32034

Listing Price: $3,750,000

Cap Rate
4.03%
Gross SF
16,721
Rentable SF
15,571
Price/Gross SF
$224.27
Lot Size
0.92 acres
Year Built
1954

Investment Overview

Marcus & Millichap is pleased to present Grand Oaks Plaza, a +/- 15,600 SF GLA shopping center and 0.53 acre development/0.92 acre redevelopment opportunity 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 is situated upon 0.38 of the total 0.92 acres, 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 C-3 Central Business District carries a maximum density of 34 dwelling units per acre, allotting the parking lot and entire parcel significant redevelopment potential. This property has multiple points of ingress/egress from 8th St, which has an AADT of 10,500, 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 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

  • 40,000 SF Of C-3 Zoned Redevelopable / +/- 23,000 SF Of Developable Land With Transferable Plans From Current Owner
  • The C-3 Central Business District Carries A Maximum Density Of 34 Dwelling Units Per Acre
  • Adjoined By The Largest Private Parking Lot In Historic Fernandina Beach – 48 Spaces
  • Excellent Visibility and Curb Appeal Fronting 8th St – AADT 10,500
  • Value-Add Upside With +/- 5,000 SF Of Vacant Space
  • At The Entry Point Of Heavy Retail Shopping And Foot Traffic

Exclusively Listed By

Financing By

Shopping Strip

Grand Oaks Plaza | Multifamily Development

Listing Price: $3,750,000

Cap Rate
4.03%
Gross SF
16,721
Rentable SF
15,571
Price/Gross SF
$224.27
Lot Size
0.92 acres
Year Built
1954

Investment Highlights

  • 40,000 SF Of C-3 Zoned Redevelopable / +/- 23,000 SF Of Developable Land With Transferable Plans From Current Owner
  • The C-3 Central Business District Carries A Maximum Density Of 34 Dwelling Units Per Acre
  • Adjoined By The Largest Private Parking Lot In Historic Fernandina Beach – 48 Spaces
  • Excellent Visibility and Curb Appeal Fronting 8th St – AADT 10,500
  • Value-Add Upside With +/- 5,000 SF Of Vacant Space
  • At The Entry Point Of Heavy Retail Shopping And Foot Traffic

Investment Overview

Marcus & Millichap is pleased to present Grand Oaks Plaza, a +/- 15,600 SF GLA shopping center and 0.53 acre development/0.92 acre redevelopment opportunity 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 is situated upon 0.38 of the total 0.92 acres, 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 C-3 Central Business District carries a maximum density of 34 dwelling units per acre, allotting the parking lot and entire parcel significant redevelopment potential. This property has multiple points of ingress/egress from 8th St, which has an AADT of 10,500, 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 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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