Middleburg Retail Space For
For Sale
$1,300,000
29 Cinnamon St, Middleburg, FL 32068
NNN leased retail space in thriving Middleburg community.
Property Size3,705 SF
Days on Market169
Property Features for 29 Cinnamon St
General Information
Standard status
Active
Size
3,705 SF
Class
B
Property subtype
Office
Building Details
Building Size
3,705 SF
Year Built
1987
Listing Agency:
Prime Realty
Listed By:
Conrad Boylan · License #3382471
(904) 515-2590
Source:
Primerealtyinc
Added: Apr 12
Changed: Sep 20
Last Checked: Sep 26 at 4:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prime Realty
Investment Insights
Based on property information with market context.
Located just off State Road 218, not far from Blanding Boulevard, at 29 Cinnamon Street in Middleburg, Florida, this retail space benefits from strong demographics in a Jacksonville suburb. The property is currently occupied by Kid City USA, which opened a location there two years ago. Kid City USA has over 100 locations and continues to expand across the US. The NNN lease structure assigns zero landlord responsibilities and features a strong corporate and personal guarantee.
Key Highlights
- Strong corporate and personal guarantee on NNN lease.
- Zero landlord responsibilities under NNN lease.
- Located in thriving Middleburg, FL, a suburb of Jacksonville.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,875
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$837,500
$837.5K
Cap Rate 7%
$598,214
$598.2K
Cap Rate 9%
$465,278
$465.3K
Market Conditions
NOI Build-Up for 3,705 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.7K $18.00/SF
− Vacancy
−$6.9K −$1.85/SF
EGI
$59.8K $16.15/SF
− OpEx
−$17.9K −$4.84/SF
NOI
$41.9K $11.30/SF
Area
Clay County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$837,500
Cap Rate 7%
$598,214
Cap Rate 9%
$465,278
Alternative Uses
Best Use
Retail
$598.2K
$523.4K – $697.9K
NOI $41,875 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$988.3K
$864.8K – $1.15M
NOI $69,180 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 32068, FL
57,458
Population
21,830
Households
2.6
Avg Household Size
39
Median Age
22%
College-Educated
93%
High-School Grad
115.5 sq mi
ZIP Area
497
Density / Sq Mi
$82,410
Median Household Income
$42,615
Median Earnings
$1,411
Median Rent
$264,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - NNN leased retail space in thriving Middleburg community.
Where is this retail space located?
The property is located at 29 Cinnamon St Middleburg, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Strong corporate and personal guarantee on NNN lease.; Zero landlord responsibilities under NNN lease.; Located in thriving Middleburg, FL, a suburb of Jacksonville.
