2960 STATE ROAD 16
About This Property
Please note: This is one listing that includes two adjacent parcels with separate addresses, being sold together as a single offering totaling nearly 2 acres.
Positioned along the rapidly growing State Road 16 corridor, this exceptional commercial opportunity offers outstanding visibility and future development potential in one of St. Johns County's most active growth areas. The property is strategically located between Mill Creek, Murabella, World Golf Village, and the new Elevation Pointe development currently under construction.
Directly across from Elevation Pointe's multifamily community, the site is strategically positioned to benefit from ongoing residential and commercial expansion. Less than 1,200 feet east of the property, the recently opened Publix-anchored shopping center provides a strong retail draw within Elevation Pointe, a master-planned development expected to feature approximately 750 multifamily units and more than 196,000 square feet of commercial space. Adding to the area's momentum, State Road 16 is planned for expansion to five lanes, further improving accessibility and traffic flow. The property's Commercial PUD zoning provides flexibility for a wide range of commercial uses, including banks with drive-thru facilities, convenience stores with fuel sales, car washes, quick-service restaurants with drive-thru service, retail establishments, and other permitted commercial uses, subject to applicable PUD requirements.
Included in the sale are Lot 2950 (Parcel ID 0874100030) and Lot 2960 (Parcel ID 0874100000), offered together as one development opportunity in a high-growth corridor. Seller financing available.
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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 |
|---|---|---|---|
| Aug 6, 2026 | Price Decreased |
$1,555,000
↓ $140K
(8.3%) | |
| Price Decreased | |||
| Jun 10, 2026 | Listed by EXP REALTY, LLC | $1,695,000 | |
| Listed by EXP REALTY, LLC | |||
| Jul 27, 2021 | No longer available | - | |
| No longer available | |||
| Jul 27, 2021 | Sold | ||
| Sold | |||
| Dec 4, 2020 | Price Decreased |
$425,000
↓ $45K
(9.6%) | |
| Price Decreased | |||
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About St. Johns
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017