For Auction

Receiver Sale: 75% Occupied | $334K NOI | St. Augustine, FL

155-167 Palencia Village Dr,
Saint Augustine, FL 32095

Asset Snapshot

Real Estate
Asset Type
Retail
Property Type
Community Center
Retail Subtype
$334,277
NOI
2007-2008
Year Built
1
Floor Count
2
Building Count
3.96 Acres
Land Area
75.2%
Occupancy
Occupancy As Of
Yes
Anchor
Starbucks, Humana, Burger King (Shadow)
Anchor Tenant(s)
21,579 SF
Property Size

Offering Summary

Investment Highlights

  • Starbucks end cap with outdoor patio
  • Minimal retail competition in the immediate area
  • Yearly average household income of approximately $141,772 within 5 miles of the property
  • Traffic of approximately 18,000 cars per day
  • Class “A” development built in 2007 & 2008
  • Excellent visibility from Highway 1
 

Offering Summary

Marcus & Millichap and RealINSIGHT Marketplace are pleased to present Mercado Walk, a multi-use center consisting of two main buildings and an outlot with a total 22,695 square feet of retail, restaurant and medical space. The property is located in a newly developed residential community including a high-end golf course. Surrounding communities include Vilano Beach to the north and Marineland to the south.

Conveniently located at the northeast corner of US Highway 1 (Dixie Highway) and International Golf Parkway in St. Augustine, St. Johns County, FL. Mercado Walk is approximately 40 miles southeast of Jacksonville, FL.

Due Diligence

Transaction Manager

Damian Smoter
Marketplace
(800) 915-7015dsmoter@realinsight.com

Platform Fee

The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Lamar P. Fisher
Fisher Auction Company Inc.
License: AU93
Fisher Auction Co: AB106

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Closed

This asset was part of the June 26th, 2024 auction event, resulting in a successful transaction that closed in just 43 days.
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Investment Sales Brokers

Mike Banwell
Marcus & Millichap
(949) 220-3224mike.banwell@marcusmillichap.com
Simon Grigoryan
Marcus & Millichap
FL License: SL3322898
(904) 672-1443simon.grigoryan@marcusmillichap.com

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.