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    Publix-Anchored Neighborhood Retail Center Title is generated by Realmo AI

    170 VILLAGE CMNS DR, Saint Augustine, FL

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    Newly constructed 2022 retail center with a Publix anchor and a fully leased tenant roster serving daily-needs demand.

    Type:Retail
    Property size:
    52,070 SF
    Price / SF:
    $473/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 3:19 am

    Property Features for 170 VILLAGE CMNS DR

    General Information

    Standard status
    Active
    Size
    52,070 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    Jason Maier

    Listing agent Jason Maier License #NY 10301215989

    Listing office Northmarq Capital, LLC

    Listing date Jun 3, 2026

    Source Crexi

    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 Northmarq Capital, LLC

    HighLights

    • 52,070 SF Publix‑anchored neighborhood center constructed in 2022 in St. Augustine, FL (Jacksonville MSA).
    • 100% leased tenant roster includes Heartland Dental, Orange Theory Fitness, Supercuts, The Loop, St. Johns Eye Associates, and Glitz & Glam Nail Salon.
    • Publix anchor is 35,413 SF and features the “Publix Unique” concept with a beer & wine tasting center, enhanced deli, and second‑floor terrace with outdoor seating.
    • Weighted average lease term of more than 13.5 years, with 15 years of remaining anchor term.
    • Located at International Golf Parkway and State Road 16, with traffic reported at more than 42,000 vehicles per day.
    • Deed restriction in the World Commerce Center DRI prevents future grocer competition.

    Overview

    Parkway Village at St. Johns is a 52,070-square-foot neighborhood shopping center constructed in 2022, offered for fee-simple acquisition. The center is anchored by a 35,413-square-foot Publix supermarket featuring a “Publix Unique” concept, including high-end finishes, a beer and wine tasting center, an enhanced deli with prepared foods and sushi, and a second-floor terrace with outdoor seating.

    The property is located at a high-profile interchange at the intersection of International Golf Parkway and State Road 16, with more than 42,000 vehicles per day reported and surrounded by upscale master-planned communities. Parkway Village sits within the World Commerce Center development. The master-planned project is described as a 1,000-acre plan with future office, industrial, hotel, and residential components, and the property is also noted as being less than two miles from World Golf Village. A deed restriction in place within the World Commerce Center DRI is described as preventing future grocer competition, and the next group of grocery stores is stated to be more than seven miles away.

    The center is 100% leased to a mix of national and local tenants including Heartland Dental, Orange Theory Fitness, Supercuts, The Loop, St. Johns Eye Associates, and Glitz & Glam Nail Salon. Lease terms are described as having a weighted average lease term of more than 13.5 years and 15 years of remaining anchor term, supporting a service-oriented tenant mix anchored by Publix.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Silver Creek Jewelry & Gifts — 6 St George St, St. Augustine, FL 32084
    • Heritage Walk — 162 St George St #19, St. Augustine, FL 32084
    • Parked St Aug — 780 FL-5, St. Augustine, FL 32084
    • King Leos's Emporium — 125 King St STE D, St. Augustine, FL 32084, United States
    • Tienda de viajeros — 105 st george st, st. augustine, fl 32084

    Location Insight

    • Map
    • Local Demand
    City
    Saint Augustine
    County
    St. Johns
    State
    Florida
    Longitude
    -81.3132083
    Latitude
    29.8942639

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    FAQs

    What type of property is this?
    Shopping center - Newly constructed 2022 retail center with a Publix anchor and a fully leased tenant roster serving daily-needs demand.
    Where is this shopping center located?
    The property is located at 170 VILLAGE CMNS DR Saint Augustine, FL.
    What is the asking price?
    The asking price for this property is $24,650,000.
    What are key features of this property?
    This property features: 52,070 SF Publix‑anchored neighborhood center constructed in 2022 in St. Augustine, FL (Jacksonville MSA).; 100% leased tenant roster includes Heartland Dental, Orange Theory Fitness, Supercuts, The Loop, St. Johns Eye Associates, and Glitz & Glam Nail Salon.; Publix anchor is 35,413 SF and features the “Publix Unique” concept with a beer & wine tasting center, enhanced deli, and second‑floor terrace with outdoor seating.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jason Maier
    Real Estate License ID: NY 10301215989
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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