516 Ash StFernandina Beach, FL 32034

Property Details for 516 Ash St

Year built

1876

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

8,710 SF

Zone code

C-3

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

00-00-31-1800-0028-0140

APU

31180000280140

Description

This exceptional mixed-use property, located at 516 Ash Street in the heart of Fernandina Beach's Historic District, presents a compelling investment opportunity. The main building, constructed in 1876, boasts approximately 6,700 square feet of space, encompassing retail, office, and warehouse areas, complete with a convenient roll-up door. Architectural details include arched windows and brick corbeling, reflecting the building's rich history. The second story offers a 1,125-square-foot residential rental unit featuring a kitchenette and two bathrooms. The main roof was recently replaced within the last seven years. A separate building at 107 S 6th St, totaling 1,044 square feet, adds to the property's versatility. This building includes a renovated two-bedroom, one-bathroom apartment and a separate first-floor commercial space. The entire property sits on a 8,887 square foot lot and is currently operating at 100% occupancy. The C-3 zoning allows for a wide range of commercial and residential uses, making it ideal for diverse development plans. The asking price is $2,300,000, translating to $258.80 per square foot. This property's prime location, combined with its historical charm and flexible zoning, offers significant potential for future growth and return on investment. The property consists of two buildings, spanning two stories, and presents a unique opportunity for adaptive reuse.

• CAP approach

  CAP return

  Valuation

  6%

  $1,728,064

  6.5%

  $1,595,136

  7%

  $1,481,198

• Comparable approach

  Method

  Valuation

  Relative Method

  $918,169

  Geo Method

  $918,169

• Alternative Use

  Use

  Valuation

  Residential

  $1,595,136

  Hospitality

  $1,461,136

  Educational

  $1,215,648

  Medical

  $1,257,456

  Retail

  $1,891,008

Location Insight

City

Fernandina Beach

County

Nassau

State

Florida

Latitude

30.6694

Longitude

-81.4609

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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