831 1St StJacksonville Beach, FL 32250

Property Details for 831 1St St

Year built

1957

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.66 AC

Property size (Sq ft)

9,345 SF

Zone code

JC-1

Property type

Turn key restaurants

APN

174334-0010

APU

1743340010

Description

This exceptional 0.66-acre oceanfront property in Jacksonville Beach, Florida, presents a remarkable redevelopment opportunity. Located at 831 1st St N, this fee-simple owned site boasts a 11,491 square foot, two-story building constructed in 1957 and renovated in 2022. Currently vacant with an occupancy date of October 31, 2024, the property is zoned JC-1, allowing for a maximum 85% lot coverage, building heights up to 35 feet, and a gross floor area of up to 50,000 square feet. The existing structure, currently configured as a two-unit building, offers flexibility for various uses, including upscale restaurant, multi-tenant commercial space, or complete redevelopment into multi-family, condominium, or hospitality ventures. The property's prime location within a densely populated area with high commercial and residential demand, coupled with the recent influx of new national retail tenants and the presence of Margaritaville, ensures significant potential for substantial returns. The asking price is $7,400,000, translating to $643.98 per square foot. This is a rare chance to acquire a significant oceanfront parcel in a thriving Florida market. The APN is 1743340010.

• CAP approach

  CAP return

  Valuation

  6%

  $2,518,754

  6.5%

  $2,325,004

  7%

  $2,158,932

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,601,595

  Geo Method

  $1,601,595

• Alternative Use

  Use

  Valuation

  Residential

  $1,961,227

  Hospitality

  $1,796,474

  Educational

  $1,494,645

  Medical

  $1,546,048

  Retail

  $2,325,004

Location Insight

City

Jacksonville Beach

County

Duval

State

Florida

Latitude

30.2966

Longitude

-81.3907

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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