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2125 US Highway 1 S - Ponce De Leon Mall, Saint Augustine, FL

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2125 US Highway 1 S - Ponce De Leon Mall

Saint Augustine, FL 32086-6070 - St Johns County Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2014
Building Size:8,600 SF Land Area:.64 AC (27,752 SF)
For Sale Price:$3,790,641 Price/SF:$440.77
Cap Rate:7.50 %
Parking:22 Surface spaces are available; Ratio of 2.55/1,000 SF

Sale Notes:
·The property is an outparcel to Ponce de Leon Mall - a 187,000 SF mall anchored by Belk & JC Penney.

·A Dominant Retail Trade Area - approximately 6.3± million SF of retail within a 5-mile radius.

·New 10-Year Leases with more than 9-years remaining.

·Jacksonville MSA & County seat of St. John’s County.

·New Construction - Built in 2014.

·Rental Increases - 10% base rental increases every 5-years and in each of the option periods.

·Rent Guaranty - There is a 1,886 SF suite that is being marketed for lease. If the space is not leased prior to closing, the Seller will escrow $52,000 at closing, which equates to: $25 PSF in annual rent plus $2.06 PSF in CAM, $.50 PSF in Taxes and $.12 PSF in Insurance reimbursements for 1 year for the vacant space (the “Rent Guaranty”). The offering Cap rate on actual occupancy (78%) is 6.17%. The offering Cap rate with the Rent Guaranty is 7.5%.

·Excellent Demographics - Population: 70,000±; Avg. HHI: $71,000 within a 5-mile radius.

·In close proximity to multiple national retailers, including: Walmart Supercenter, The Home Depot, Publix, Aldi, Save-A-Lot, Bed Bath & Beyond, Marshalls, Ross Dress for Less, Hobby Lobby, Big Lots, Bealls Outlet, Harbor Freight Tools, Barnes & Noble, Petco and many others.

Colliers International
Taylor Wolfes
(404) 574-1071

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