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Excellent development opportunity along State Road 16 in St. Augustine, Florida, totaling 6. 86± acres (2. 93± and 3. 93± acres) across parcels 0286220000, 0286210000, and 0286200000. The property offers approximately 520 feet of frontage along SR 16, providing exceptional visibility and access with an average daily traffic count of 20, 500 vehicles. Roadway improvements are underway in the area, with the expansion of SR 16 approved to widen from two lanes to four lanes, and a new traffic light already installed at the nearby intersection of SR 16 and S. Francis Road. Zoned Open Rural (OR), the site includes a single-family home and is mostly cleared and ready for development. Located just five miles from the St. Augustine Premium Outlets, this property benefits from strong traffic volume, convenient access, and proximity to one of the area's fastest-growing commercial corridors. Additionally, an adjacent 5. 03-acre parcel is currently under contract.
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Our Executive Mortgage Banker:
Our Insurance Division:
$3,087,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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| Loan Amount | $2,469,600 | $2,469,600 | $2,469,600 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 5.875% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 5.972% | 5.826% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $13,829 | $14,609 | $20,343 |
| Total Monthly Payment | $13,954 | $14,734 | $20,468 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.