28 SEMINOLE- PARCEL B Drive
About This Property
An exceptionally beautiful marsh front lot in North City. Sweeping panoramas of Robinson Creek, Camachee Cove, the Vilano Bridge and all of nature's gifts in this waterfront paradise. Minutes from historic St. Augustine & Vilano Beach. Easy access to A1A and US1 to Jacksonville. Attachments to listing:survey, sq.ft footprint of house, DEP permits for bulk head & dock,legal & Sellers' Disclosure. This is a wonderful rare offering!Perfect for appreciators of nature and wildlife, peace, privacy and quiet. Nice neighborhood, nice neighbors too. This is Parcel B. (Parcel A is under contract.) An estimate of the allowable square footage for the home's first floor footprint alone is about 1532 SF, if bulk headed. (10ft setback from wetlands line if bulk headed; 25 ft if not.) Two to 3 floors allowed, up to 35' maximum. (Drawing showing square footage is attached.) This is a conforming RS-2 lot. Setbacks are 15' front, 10' sides, and 10'(or 25')rear. A permit for a bulkhead and dock has been granted by the Florida Dept. of Environmental Protection, allowing for 84' of bulkhead and construction of a 17' x 30' platform [deck], 5'x 244' access pier, and 10'x 20' terminal platform within Robinson Creek. City must ok bulk head and dock too. Parcel B is an interior lot, has access from Seminole over driveway easement granted by Parcel A. A Shared Driveway Maintenance Agreement will be provided prior to closing. Sale of both parcels are part of a 1031 Tax Deferred Exchange. Buyers will not incur any additional expenses or liability as a result of the exchange. Disclosure: Listing Agent is related to the Sellers.
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 11, 2016 | Sold | ||
| Sold | |||
| Jun 12, 2015 | Listed by PRIME REAL ESTATE COMPANY | $185,000 | |
| Listed by PRIME REAL ESTATE COMPANY | |||
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About St. Augustine
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Phone: 425-283-2930
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