JACKSONVILLE, FL., – October 13, 2021 – NAI Hallmark is pleased to announce the sale of 400 Anastasia Boulevard to a private investor for $1,275,000. The multifamily property is primely located on Florida AIA Scenic and Historic Coastal Byway, locally known as Anastasia Boulevard, in Saint Augustine, Florida. Senior Associate Luke McCann brokered the transaction.
“We’re very pleased to have brokered the sale of 400 Anastasia on behalf of the seller and buyer. The Saint Augustine submarket currently has one of the highest occupancy rates in the MSA (98.2%) with a year-over-year rent growth of 12.6%”, said McCann. “We are excited to see the buyer’s vision come to life for this prominent building in the Nation’s Oldest City.
The 14-unit asset was built in 1940 as a boutique motel on Anastasia Island and was later repurposed as a long-term multifamily rental property. The property is in close proximity to dining, entertainment and local attractions such as Downtown St. Augustine and the St. Augustine Amphitheatre. The two-story building is comprised of a combination of efficiencies, one, and two-bedroom units, and is situated on a 0.40 acre lot at a signalized intersection for convenient ingress and egress.
For more information regarding the sale of 400 Anastasia Boulevard or any questions relating to multifamily investment assets, please contact Luke McCann at lmm@naihallmark.com
