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3905 - 3907 A1A S - Shoppes at South Beach, Saint Augustine, FL

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3905 - 3907 A1A S - Shoppes at South Beach

Saint Augustine, FL 32080 - St Johns County Submarket

Property Type:Retail Sub Type:Supermarket Status:Existing Year Built:1998
Building Size:51,048 SF Land Area:11.51 AC (501,384 SF)
For Sale Price:$8,300,000 Price/SF:$162.59
Cap Rate:5.50 %
Parking:Free Surface spaces are available; Ratio of 5.57/1,000 SF Anchor Tenants:Winn-Dixie
Features:Pylon Sign

Sale Notes:
Established location
Positive sales growth 2014 to 2015
Low rent to sales ratio
Located on Highway A1A
Less than a mile from the Atlantic Ocean
$74,470 average household income within 3 miles
No state income tax
5% rent bump in year 11 and each option
exclusively presents for sale a 51,048 sf Winn Dixie located in St Augustine, FL. The property is less
than a mile from the Atlantic Ocean on A1A. The tenant recently entered into a new 20 year absolute triple net lease.
There are approximately 18.5 years remaining with a 5% escalation in year 11 and 6 5 year renewal options with 5% rent
increases in each. Average daily traffic count is 20,865 vehicles on A1A. An Advance Auto Parts is adjacent to the subject
property but not included in the sale. Other retailers in the immediate area include Walgreens, Publix, GNC, Starbux,
Subway, Quiznos, Dollar Tree, UPS, and Kangaroo Express. Winn Dixie has been operating at this location since January
2000. Rent to sales is currently 2.44%.

Jack Kassin
Jack Kassin
(212) 971-3000

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