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Historic Downtown St. Augustine Turn-key Commercial Property: 47 Cordova Street Rare Opportunity in the Heart of Historic St. Augustine Positioned just steps from St. George Street and less than one block from Flagler College, this beautifully restored historic property presents a rare opportunity to acquire a landmark commercial building in one of Florida's most visited destinations. Located on Cordova Street, one of the primary gateways into Historic Downtown St. Augustine, the property benefits from exceptional visibility to both pedestrian and vehicular traffic entering the city's historic district. The city's famous trolley trains and tours pass directly in front of the property multiple times each day, providing continuous exposure to visitors year-round. The property is also located along the direct route of St. Augustine's world-famous Nights of Lights celebration, placing it at the center of one of the nation's most celebrated holiday events and the millions of visitors it attracts annually. Originally constructed in 1900, the building underwent a comprehensive renovation in 2014, resulting in an effective building age of 2014. Renovations were completed in compliance with HARB requirements and the Ad Valorem Tax Exemption program and included a raised new slab to prevent flooding, structural supports, framing, walls, electrical systems, plumbing, roof, HVAC systems, fixtures, and more. Previously operated as a successful bakery, café, and coffee shop serving coffee, beer, and wine, the property is fully equipped for continued hospitality use while also offering exceptional flexibility through its highly desirable HP-3 zoning. Permitted uses include restaurant and café operations, retail storefronts, galleries, antique stores, professional offices, short-term rental accommodations, and mixed-use residential or commercial concepts. Historic Charm Meets Modern Infrastructure - Guests are welcomed into a bright and inviting dining area filled with natural light from a beautiful bay window overlooking Cordova Street. The charm of the historic architecture blends seamlessly with modern systems and improvements, creating a unique atmosphere that appeals to both visitors and locals. The first floor is thoughtfully designed for hospitality, retail, or service-oriented businesses and features: Spacious customer seating and service area, large retail or café service space, Two ADA-compliant restrooms, dedicated storage closet, small kitchen prep area complete with a mop sink, prep sink, refrigeration, and glassware dishwasher, functional food service station with rear service counters positioned behind refrigerated display cases and countertop workspace, access to the rear deck and patio, shared storage area, and walk-in cooler Both the front and rear outdoor patio seating areas provide additional guest capacity and create inviting spaces for customers to enjoy the atmosphere of Historic Downtown St. Augustine. The second level offers a flexible layout with additional dining, event, or operational space and includes: Large commercial kitchen w/ commercial hood system, walk-in cooler, commercial hood system, and private office. Situated within one of the most active commercial and tourism corridors in St. Augustine, the property enjoys unmatched access to visitors, students, residents, and tourists alike. Its location less than a block from Flagler College and within walking distance of the city's most popular attractions, shops, museums, and accommodations makes it uniquely positioned for long-term success. Recent Improvements & Capital Investments include: New HVAC systems (2021–2022), New grease trap (2021–2022), Rear patio improvements including new pavers (2022), Exterior repainting (2022), New fencing (2022), Weatherproofed storage shed (2023). Additional Highlights include: Impact fees paid for 25 seats, Front and rear outdoor patio seating areas, Equipment, furnishings, and assets included in the sale, & Owner
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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 | $1,420,000 | $1,420,000 | $1,420,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.750% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.228% | 6.086% | 6.183% |
| Monthly Tax Payment | $634 | $634 | $634 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,287 | $8,514 | $11,983 |
| Total Monthly Payment | $9,046 | $9,273 | $12,742 |
* 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.