218 State Road 16 St Augustine FL 32084 MLS #245459

Quadplex, Triplex, and One Commercial Unit on 3 combined parcels located at a hard traffic light! Below Market rents, Lots of Value-Add with long-term redevelopment potential! Current Income approx $186,000 with below market rents- once raised gross income would be almost $230,000! The property’s prime corner location and proximity to a high-traffic commercial area, highlighted by the adjacent Circle K, enhance its long-term value as a potential redevelopment site. While the car dealership and multifamily units provide stable, immediate cash flow, the combined 0.61-acre site could attract future interest for higher-density commercial or mixed-use developments. Investors have the flexibility to maintain the existing income-generating properties while exploring future redevelopment opportunities, assembling adjacent parcels, or obtaining entitlements, making this a highly strategic long-term investment.