Commercial Sale · Medical Office
42 PALMER STREET, ST AUGUSTINE, FL, 32084
Active5 days on marketListed Sep 15, 2026MLS #FC321468
About this property
The property at a glance
Positioned near the revitalizing West King Street corridor, this extensively improved CL-1 commercial property offers a rare combination of professional office space, enclosed garage storage and two-street accessibility in central St. Augustine. The complete offering includes Lots 4, 5 and 6, with two climate-controlled office suites, three garage bays and entrances from both Palmer Street and Smith Street. More than $70,000 has been invested in recent improvements, including a new roof, windows, exterior doors, underground water, sewer and electrical utilities, plumbing, flooring, interior and exterior paint, brick pavers, decorative rock, enhanced parking, landscaping, palm trees and updated irrigation connected to public water. All buildings have been re-insulated, and the electrical service has been partially updated and brought to code to support the existing buildings. Infrastructure is also in place for exterior lighting, an electric gate and keypad access at both entrances. Each office has its own half bathroom with upgraded fixtures and on-demand hot water, plus an individual mini-split system providing heating and air conditioning. The property also offers one attached garage bay and a detached two-bay garage with updated roll-up-style doors, insulated interiors, durable coated floors and new window air-conditioning units. The north bay of the detached garage is stubbed for water, creating potential for a future office and bathroom conversion. The layout may accommodate an owner-user, multiple business functions or future separation of the north and south portions. The City’s 30-year West City redevelopment initiative emphasizes economic growth, locally oriented businesses, beautification, mobility and infrastructure improvements. The City also reports that a new parking garage at West King Street and US-1, near the Broudy’s Lot, is currently in design. Flood Zone X and city water. An excellent central base for professional offices, service providers or office-forward trades needing workspace with nearby accessory storage. All proposed uses, conversions and property divisions are subject to CL-1 zoning, permitting and governmental approval.
429
Building sq ft
$1,620
Price / sq ft
0.21
Lot acres
1935
Year built
2
Buildings
Medical Office
Property type
The numbers
Investment snapshot
Income and lease details aren’t published in the MLS for this listing. Ask for the offering memorandum and rent roll to run cap rate, NOI and cash-on-cash.
Estimated payment (illustrative)
Estimated payment
$3,475/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Elizabeth to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
298
Population
$57,917
Median income
53
Median age
2
Avg household
$266,900
Median home value
$1,515/mo
Median rent
5%
Households w/ kids
Consumer profile
Thirst isn't the only reason this population looks for a good brew. From beer drinkers on a budget to the millennial craft beer enthusiast, these men and women are passionate about different kinds of beer and how it's made.
From tiny sprouts and window plants, to flower arrangements and designing a landscape, this population has an affinity for all things green.
Morning java. Cup of Joe. Caffeine in an IV. Whatever they call it, this population loves coffee and the culture around it.
This population has a sweet tooth, and they're looking for treats to satisfy their sugar craving, including candy, cupcakes and flavorful toppings.
The only thing more beautiful than handmade decor? The hands that made it. This population appreciates the time and care put into one-of-a-kind pieces.
Pups are just another member of the family. Dog lovers adore their tail-wagging friends and are looking for new ways to make them happy.
Recent sales
What actually sold near 42 PALMER STREET
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$60,000
106 ST. GEORGE STREET
600 sqft · $100/sqft · Sold Aug 17, 2026
$200,000
96 BRUEN STREET
1,166 sqft · $172/sqft · Sold Sep 22, 2025
$48,000
2706 OLD MOULTRIE ROAD
Sold Jun 2, 2026
Your team
The pros in your corner
Your agent
Elizabeth Elliott
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about 42 PALMER STREET — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 42 PALMER STREET.
See it in person
Schedule a tour
Live availability from Elizabeth's calendar — pick a time and it's booked.
Keep looking
Similar properties nearby
Listing courtesy of ONE SOTHEBYS INTERNATIONAL · Elizabeth Kelly. MLS #FC321468.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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