Royal Pines Shopping Center
Closed3460 Royal Pines Drive, Middleburg, FL 32068
Property type
Retail
CAP
6.31%
Building size
6,000 SF
Rentable area
6,000 SF
Year built
2024
Lot size
0.14 acres
Sold/status
Sold · Date unknown
Sale price
$4400000
Property description
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. The nail salon operator has significant experience and ownership in 90 nail salons across the state.
Property highlights
- 6,000 SF New Construction Retail Development in the Booming Jacksonville MSA
- Amazon-Resistant Tenant Lineup From Large Operators: Pizza Hut, Roderick's Karate, Encore Nails
- Part of the Oakleaf Plantation Master Planned Community: 11,000+ Residential Units
- Long-Term Leases In Place With Scheduled Rental Increases
- Across The Street From a Strong Performing Publix ($40M+)
- Upgraded Architecture Elements That Limit Long-Term Maintenance Expenses: 20-Year Roof Warranty and Full Concrete Parking Lots
- Jacksonville Was The 4th Largest Population-Gaining City In The Last Year
- Affluent Jacksonville Suburb: $120,000+ Household Incomes