When it comes to St. Johns County real estate, good things come to those who waited.
Owners of a prime 269-acre tract in St. Augustine are looking to cash in—potentially tenfolding their investment—with a new $32.5 million listing for the undeveloped site.
The property, located at 570 Faver Dykes Road, sits just east of I-95 and U.S. 1 and north of State Road 204, offering access to major traffic corridors.
County records show an LLC purchased the land for $3.2 million in 2000, meaning the new asking price represents nearly a ten-times increase over 25 years.
Brokers John Hodges and Brett McKee of IMC Real Estate Services are handling the sale.
At $120,500 per acre, the listing underscores the area’s rapid appreciation amid St. Johns County’s ongoing population boom.
Zoned PRD (Planned Residential Development) and PUD (Planned Unit Development), the parcel allows for a wide range of potential uses—residential neighborhoods, commercial hubs, industrial parks, or mixed-use projects—subject to county approvals.
Its proximity to I-95 and the State Road 204 interchange could also make it attractive for logistics, retail, or large-scale residential concepts.
Southern St. Johns County has become one of Florida’s fastest-growing regions, with new housing and commercial projects steadily pushing south.
Large undeveloped tracts like this have become increasingly coveted, driving investor interest despite rising development costs, approval hurdles and longer permitting timelines.
