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1. 6-acre commercial land parcel on W. King Street in St. Augustine, Florida -- located within the West Augustine Commercial Overlay District in St. Johns County's 32084 ZIP code. The site carries 11, 000 annual average daily traffic count on W. King Street and sits two miles west of downtown St. Augustine's historic district. The West Augustine Overlay designation allows multi-family, commercial, and mixed-use development by right -- without the need to rezone to a Planned Unit Development. Permitted uses include financial institutions, medical and professional offices, retail goods stores, specialty food stores, take-out restaurants, service businesses, mini warehouses, spas and gyms, gas stations, supermarkets, child and adult care facilities, art galleries, and more. Flexible design standards reduce setbacks, buffering, screening, and parking requirements, increasing the developable footprint of the parcel. The overlay district encompasses approximately 2, 155 acres in West
Augustine, a community identified by St. Johns County as an economic development priority. Florida Memorial University is actively developing 340+ acres within the district. Family Dollar has opened as the first national retailer to anchor the corridor. Economic incentives are available on a case-by-case basis through the St. Johns County Economic Development Office.
The property consists of multiple assembled parcels with direct W. King Street frontage. No HOA. No CDD. Access via US-1 north to W. King Street. Highways serving the corridor include I-95, I-10, US-1, SR-16, and SR-207. Northeast Florida Regional Airport and Jacksonville International Airport are both accessible from this location.
901 W. King Street is positioned at the early stage of a county-supported commercial revitalization -- offering land area, traffic exposure, and overlay flexibility that smaller infill parcels in this corridor cannot match.
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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 | $960,000 | $960,000 | $960,000 |
| 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 | 6.251% | 6.086% | 6.183% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,602 | $5,756 | $8,101 |
| Total Monthly Payment | $5,727 | $5,881 | $8,226 |
* 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.