Retail Center Anchored by
11341 Normandy Blvd Jacksonville, FL 32221
11341 Normandy Blvd, Jacksonville, FL, 32221
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For Sale
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Newly-developed retail center anchored by Publix Supermarkets.
Property Size58,691 SF
Price / SF$352.44
Days on Market604
Property Features for 11341 Normandy Blvd
General Information
- Standard status
- Active
- Size
- 58,691 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2024
Listing Agency
TSCG The Shopping Center Group Miami
(305) 772-4105
Listed by
Anthony Blanco · License #FL BK659640
Source
Crexi
Added: Nov 20, 2024 Checked: Jul 17 at 10:37 am
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 TSCG The Shopping Center Group Miami
Investment Insights
Based on property information with market context.
The Plaza at Normandy in Jacksonville, Florida, is a newly-developed Class A retail center. The property has a total of 58,691 square feet of gross leasable area. It is anchored by Publix Supermarkets, which occupies 46,791 square feet in a new prototype grocery store featuring a drive-thru pharmacy. Publix also leases an adjacent 2,100 square foot space for a liquor store. Other tenants include Xtreme Wings, Hair Cuttery, Nail Art Studio & Spa, UPS Store and AT&T Wireless. The property is 100% leased.
Key Highlights
- Anchored by Publix Supermarkets, the dominant grocery chain in the Southeast
- Newly‑developed class “A” retail center
- 100% leased property
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.27M | $21.60 |
| − Vacancy | −$101.4k | −$1.73 |
| EGI | $1.17M | $19.87 |
| − OpEx | −$291.6k | −$4.97 |
| NOI | $874.7k | $14.90 |
58,691 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$12.50M
$10.93M – $14.58M
NOI $874,731 @ 7.0% cap · market cap 4.23%
Second Best
Retail
$9.48M
$8.29M – $11.06M
NOI $663,337 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$16.08M
$14.07M – $18.76M
NOI $1,125,459 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Publix Pharmacy at the Plaza ...
Pharmacy
Publix Super Market ...
Specialty Food Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Shopping center - Newly-developed retail center anchored by Publix Supermarkets.
Where is this shopping center located?
The property is located at 11341 Normandy Blvd Jacksonville, FL.
What is the asking price?
The asking price for this property is $20,685,000.
What are key features of this property?
This property features: Anchored by Publix Supermarkets, the dominant grocery chain in the Southeast; Newly‑developed class “A” retail center; 100% leased property
