5670 State Road 16

Highlights:

• - 21.58 Acres Gross, Currently Zoned Open Rural with Residential C Land Use - 6 Units Per Acre
• - Previous Development of 216 Multi-Family Units was denied by BCC in 06/2023.
• - Close Proximity to Jacksonville for convenient access to Urban amenities
• - Ideal for mixed-use retail, industrial development and large-scale projects
• - Ample space for institutional, retail, manufacturing, distribution, or storage facilities
• - Commercial Potential for future expansion and growth in St. Johns County
• - Easy Access to major transportation routes for logistical efficiency
• - Potential for investment in land banking or future development opportunities
• - Prime location for industrial and commercial ventures, currently favored by County

Description:

St. Augustine is experiencing a notable upswing in economic and commercial activities. As a city famed for its rich history and vibrant tourism industry, recent trends indicate a diversification in economic drivers, including technology startups, retail sectors, and hospitality services. The demand for commercial spaces in burgeoning sectors has increased as local businesses and multinational companies seek strategic footholds within the region, taking advantage of its economic vibrancy and growth potential. The St. Johns County area, encompassing St. Augustine, is one of the fastest-growing counties in Florida. The expanding residential developments highlight a community-centric growth model, attracting families and professionals seeking enhanced quality of life. This transformation is underpinned by top-rated educational institutions, recreational amenities, and a blend of suburban and coastal lifestyles. As residential communities expand, they contribute to an increased patronage of local businesses, creating synergistic development opportunities for commercial investors. These impacts promise robust demand for retail, office, and service-oriented commercial facilities, aligning with consumer convenience and accessibility needs.

Premier mixed-use commercial and residential development opportunity strategically located ½ mile west of the signalized intersection of International Golf Parkway and State Road 16 and just ¼ mile west of the SR 16 and CR 16A intersection, the entrance to Silverleaf. This International Golf Parkway/SR 16 intersection is anchored by two community shopping centers with a Publix, a separate Publix Greenwise, Walgreens, CVS, Flagler Health as well as notable national franchises including Dunking Donuts, Starbucks, Mellow Mushroom, McDonalds, Zaxby's and Panera Bread. The First Coast Expressway will also under construction just north of this tract by the existing Mill Creek Elementary school and Tocoi Creek High School. This is one of the fastest growing regions in St. Johns County and is undergoing dramatic growth for future development with increasing populations. The population growth over the next 5 years is 3.30% annually while household growth is 3.29% annually in a one to five-mile radius. Average household income is $122,287 and is projected to be $140,053 in five years in 2025. The 2023 annual average daily traffic count is 26,133 cars for SR 16 in front of the subject property.

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