1315 S 8th St - 1315 S. 8th Street Lot • Terrain commercial • 1,62 Acres • 3 068 078 $ CAD • Fernandina Beach, FL 32034

In a luxury market like Amelia Island—defined by high barriers to entry and rigorous local density caps—this 1.62-acre parcel represents a rare "regulatory arbitrage" opportunity. By leveraging the Florida Live Local Act, an investor can bypass the traditional rezoning hurdles of Nassau County and the City of Fernandina Beach to deliver high-density residential units in a commercial corridor. Administrative Preemption of Zoning & Land Use Under the Live Local Act, local governments must allow multi-family and mixed-use residential developments on any parcel zoned for commercial, industrial, or mixed-use—without requiring a land use or zoning change. This property’s current commercial status becomes a "residential-by-right" site. You bypass the public hearing process, political opposition, and the uncertainty of a Comprehensive Plan Amendment. The Act mandates that the county or city must allow the highest density allowed on any land in the jurisdiction. Furthermore, the developer is entitled to the maximum height allowed within one mile of the site or the highest height currently permitted by the local government. Nassau County Application: This allows for an urban-level density typically reserved for downtown cores, significantly increasing the "units-per-acre" count and lowering the land cost per unit. Developments that dedicate at least 40% of units to residents earning between 80% and 120% of the Area Median Income (AMI) qualify for a 75% property tax exemption. If the units are for residents at or below 100% AMI, the exemption increases to 100%. This creates a massive boost to Net Operating Income (NOI), effectively offsetting higher interest rates and construction costs. Nassau County is one of the fastest-growing regions in Florida, yet the housing supply for the "essential" workforce (teachers, nurses, first responders, and hospitality staff) has reached a breaking point. The median home value in Fernandina Beach is $669,000, with average rents soaring to $2,695/month. Data shows that 45% of low-income renters in this region are "cost-burdened," spending over 40% of their gross income on housing. Renter demand in Nassau County is increasing at a rate of 7% annually, far outpacing the delivery of new "attainable" inventory. Frontage: Exceptional visibility with 579 feet of frontage on South 8th Street (A1A), the primary artery for traffic entering Amelia Island. Readiness: Phase I Environmental completed, reducing your due diligence timeline. The Annexation Advantage: The property is currently located in unincorporated Nassau County, providing a lower initial tax basis. However, it is eligible for annexation into the City of Fernandina Beach through city application. This site is a prime candidate for a Mixed-Use Live Local Project. By utilizing the ground floor for high-visibility commercial (capitalizing on the A1A frontage) and the upper floors for high-density, you lower your development risk via state-mandated zoning approvals, up to 100% property tax exemptions (correlates with units available to LMI households), higher operating margins, access to an underserved rental market with a 7% annual growth rate. To utilize the Live Local Act on this site, the developer must dedicate at least 40% of the units to "workforce housing" (up to 120% AMI), maintain the affordability for a minimum of 30 years and maintain a 'residential' or 'mixed-use' residential' component