Royal Pines Shopping Center | 3460 Royal Pines Drive
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Royal Pines Shopping Center 3460 Royal Pines Drive
6,000 SF 100% Leased Retail Building Middleburg, FL 32068 $4,400,000 ($733/SF) 6.31% Cap Rate
Investment Highlights
- Amazon-Resistant Tenant Lineup: Pizza Hut, Roderick's Karate, Encore Nails
- Long-Term Leases In Place With Scheduled Rental Increases
- Upgraded Architecture Elements That Limit Long-Term Maintenance Expenses: 20-Year Roof Warranty and Full Concrete Parking Lots
- Part of the Oakleaf Plantation Master Planned Community: 11,000+ Residential Units
- Across The Street From a Strong Performing Publix ($40M+)
- Affluent Jacksonville Suburb: $120,000+ Household Incomes
Executive Summary
Franklin Street is pleased to present Royal Pines Shopping Center in Middleburg, Florida, a Jacksonville suburb. Jacksonville is the 10th most populous city in the United States and the MSA is made up of 1.7M residents. The center is located within the Oakleaf Plantation master planned community. The shopping center consists of three separate buildings made up of Amazon-resistant and family-friendly tenants that service the community. Anchoring the intersection with Royal Pines Shopping Center is a very strong performing Publix-anchored center and a soon-to-be-built HCA Healthcare medical facility. Additional retailers driving traffic to the intersection include Daybreak Market, McDonald's, Heartland Dental, LUV Car Wash, and soon-to-be-built Dollar Tree and Waffle House locations. The location is surrounded by affluent neighborhoods and a population that is rapidly growing (12% growth expected over next 5 years). The property has three access points to the center, including one off Oakleaf Plantation Pkwy and two off Royal Pines Drive. The Pizza Hut location is operated and guaranteed by Flynn Restaurant Group, the largest franchise operator in the country with 2,600+ locations.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
6,000 SF
Building Class
B
Year Built
2024
Price
$4,400,000
Price Per SF
$733
Cap Rate
6.31%
NOI
$277,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.98
Lot Size
0.14 AC
Zoning
PUD - Planned Development
Frontage
396 FT on Royal Pines Dr.
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 07-04-25-007869-001-08 | Improvements Assessment | $0 |
Land Assessment | $937,408 | Total Assessment | $937,408 |
PROPERTY TAXES
Parcel Number
07-04-25-007869-001-08
Land Assessment
$937,408
Improvements Assessment
$0
Total Assessment
$937,408
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Royal Pines Shopping Center | 3460 Royal Pines Drive
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