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Located in the heart of historic downtown St. Augustine near the iconic Cross, this rare mixed-use opportunity offers exceptional flexibility for investors, business owners, and developers looking to capitalize on one of the most sought-after locations in the nation’s oldest city. Currently operating as a professional law office, the property is zoned CL-1, opening the door to a wide variety of potential uses, including short-term vacation rental, boutique office space, live/work conversion, retail, gallery, hospitality concept, luxury rental, or private residence. Positioned within walking distance to historic attractions, restaurants, shopping, art galleries, nightlife, Flagler College, and the waterfront, this property sits in a high-demand tourism corridor with strong visibility and long-term upside potential. The surrounding area continues to experience increasing demand from visitors, second-home buyers, entrepreneurs, and investors seeking income-producing properties in downtown St. Augustine. The historic character and prime downtown location create the perfect foundation for a luxury vacation rental, boutique inn concept, executive office, or mixed-use investment property. CL-1 zoning provides valuable flexibility rarely found in the historic district, making this an ideal opportunity for Airbnb investors, 1031 exchange buyers, business owners, or those seeking a unique adaptive reuse project. Highlights include: * Prime downtown location near the Cross and historic district * CL-1 zoning with flexible commercial and residential potential * Excellent opportunity for short-term vacation rental conversion * High visibility and strong pedestrian traffic * Walkable to restaurants, shopping, museums, and attractions * Potential live/work opportunity in historic downtown * Ideal for investors, boutique office users, or hospitality ventures * Rare chance to own an income-producing property in downtown St. Augustine Whether you envision a luxury vacation rental, boutique commercial space, charming downtown residence, or long-term investment hold, this property offers location, zoning flexibility, and historic charm in one of Florida’s most desirable tourism markets.
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Our Executive Mortgage Banker:
Our Insurance Division:
$749,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $599,200 | $599,200 | $599,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.250% | 6.500% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.375% | 6.638% | 5.972% |
| Monthly Tax Payment | $531 | $531 | $531 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,689 | $3,787 | $4,976 |
| Total Monthly Payment | $4,312 | $4,410 | $5,599 |
* 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.