Rare Development Opportunity in Historic Downtown St. Augustine. Two customizable lots for development with plans for luxury townhome or apartment style living on brick paved and historic Palm Row. The existing building at 5 Palm Row to be remodeled and restored to a residential duplex. *This listing is for the sale / reservation of one unit of the duplex after remodel.* The entire parcel offers the unique possibility to combine commercial and residential endeavors. Initial townhome price of $785,000 subject to final plans. Call for build to suit options. Near visitor attractions, the St. Augustine Municipal Marina and Flagler College, the proposed upscale units could be fantastic seasonal / long-term rentals, residences for boat owners, or an upscale housing option. Easy access to beaches via AIA. Lot 1 (5 Palm Row) features 3,555 sq ft of conditioned space, currently used as office space, with plans to restore it to a residential duplex that combines charm, functionality, and luxury upgrades. The drawings are included in this listing. The townhome layout consists of three levels. - Carriage house-style garages on the ground level. One spot will be designated for the townhome and two for the eventual duplex at 5 Palm Row. - The second floor has an open concept living, kitchen, dining area, with a screened porch. 3 bedrooms, 3 full baths, and ample closet space make this ideal for shared living. - The attic level offers a large, privileged bedroom with a full luxury bath and walk-in closet. Complete with space for a private outdoor porch or enclosed sunroom. - With plenty of private space, this townhome would function extremely well as unique student housing, a short-term rental, or multi-generational living.