“Commercial land prices are all over the map. They have not risen commensurate with the level of residential sales, so there are still opportunities for smart investors,” said Paul Porter, Watson Commercial Realty Agent of Jacksonville, Florida. “Trading when these disparities exist is how investors can make money, but the window of opportunity will shrink as prices will find a level.”
Porter adds that the key indicator of opportunity is the enormous variance in prices of land per square foot in St. John’s County with some parcels listed for sale as low as $1.30 per square foot and others as high as $14 per square foot. Porter further explains that with Nocatee’s success in St. John’s County as the # 3 best-selling planned community in the nation, commercial services for these homeowners are almost non-existent. That is true for Los Colinas, Palencia, Bartram Springs and other communities in the US 1 Corridor area.
“Now is the time to buy and develop land to provide those vital services to the families moving into the Nocatee Community and northeast St. Johns County. At today’s prices, the return on investment can be significant, but it won’t last forever,” Porter warns.
Paul Porter’s experience spans 35 years as a commercial real estate developer, entrepreneur, strategic business consultant, and licensed Florida real estate professional. Porter earned an MBA from Harvard and a BA in Management Science from Duke University. He was named Watson Commercial Realty Agent of the Year for 2013.