Anchored Investment Opportunity
Royal Oaks Shopping Center
3210-3248 Lithia Pinecrest Rd | Valrico, FL 33596
Tampa MSA
Anchor Tenants
National Tenants
Matthews™, as exclusive broker, is pleased to present the opportunity to acquire Royal Oaks Shopping Center, an 89,789± SF neighborhood center, anchored by the #7 Crunch location in the U.S. - located in the heart of Valrico, on the east side of the Tampa MSA.
in the U.S.
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Located in Valrico, on the east side of the rapidly growing Tampa Bay MSA
boasting a thriving economy, very low unemployment, some of the nation's best beaches, and renowned as a top travel destination
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Proven, national credit anchor base comprised of Crunch Fitness and Harbor Freight Tools
Two expanding retailers which comprise over 52% of the overall tenant roster
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Situated within a regional essential needs retail and medical nucleus in Valrico
Adjacent to Walmart Supercenter, Sprouts, Publix, Whole Foods (coming soon), and PetSmart, as well as BayCare HealthHub
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4.56% CAGR - compelling opportunity for NOI growth at the Property
4.56% projected CAGR
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Crunch Fitness boasts phenomenal foot traffic data, ranking #7 of 440 Crunch locations nationally (top 1%)
Paying below market rent in a robust retail node, encircled by tier 1 grocers
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Roughly 64% national retail tenant roster with predominantly e-commerce resistant shops
Characterized by a plethora of medical service providers, restaurants, beauty salons, real estate, fitness, and more
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Strategically situated at the high traffic intersection of Lithia Pinecrest Road and Bloomingdale Avenue
Accessing a strong combined traffic count of 64,800± VPD
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Ancillary national outparcel draws count Wawa, Dunkin, Speedway, Verizon, Fifth Third Bank, Express Oil Change, and SunCoast Credit Union
Along with a (vacating) Twistee Treat OP pad, which is included in the offering and adds an additional layer of upside
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Affluent, growing trade area demographics
Underscored by 188,360 people within a 5-mile radius, an Avg. HH Income of $135K within three miles, and a projected annual growth rate of 1.5% within one mile
Valrico
Tampa-St.Pete, FL MSA
Valrico, FL
Valrico is situated adjacent to the picturesque Gulf of America, just east of Downtown Tampa, within the rapidly-growing Tampa-St. Petersburg-Clearwater, FL MSA. Positioned roughly 15 miles from the Downtown area, Valrico serves as a bourgeoning bedroom community for Tampa. The 2nd largest MSA in the state of Florida and the third largest in the Southeast, Tampa boasts phenomenal growth, a thriving economy, one of the nation's best beaches (Clearwater) and the second-best airport in the nation, as rated by Travel + Leisure Magazine. Tampa's economic engine added 34,600 new jobs in the private sector in the last year — the second-highest number of jobs of any Florida MSA. The city's employment rate has plummeted to less than 3.8%, down from 10.7% in 2010.
Top Industry Sectors
- Avionics
- Financial Services
- Tourism
- Manufacturing
- Transportation & Logistics
- Professional Services
Major Area Employers
University of South Florida
Port Tampa Bay
Located in Downtown Tampa, near the Channel District, Port Tampa Bay is the largest port in Florida, situated just 25 sea miles from the Gulf of America. The closest full-service port to the Panama Canal, Port Tampa Bay serves ships, tankers and cruise lines, ranking 24th in the United States in overall cargo tonnage. It serves as a major fertilizer exporter, an energy products gateway for Central Florida, and an expanding container gateway for distribution centers and manufacturers. A popular cruise port with 3 dedicated terminals, Port Tampa Bay is a year-round homeport for several cruise ships and a growing winter homeport for cruise lines like Carnival, Celebrity, Norwegian and Royal Caribbean. Supporting over 85,000 jobs, the port creates an annual economic impact of over $17 billion.
Market Aerial
Situated at a high traffic intersection within the heart of Valrico's retail nucleus, Royal Oaks is positioned on the east side of the affluent, rapidly growing Tampa MSA.
Necessity-Based Retail Center of Gravity
With a true main and main location, Royal Oaks is part of Valrico's retail center of gravity, which is home to four major grocery draws. Directly across from, adjacent to, and behind the property, Sprouts, Publix, Walmart Supercenter and a brand new Whole Foods (coming soon) create significant necessity-based shopping draws, constantly bringing consumers to the immediate area for a variety of needs.
Nearby grocery draws
- Coming soon
- 15,800 VPDLithia-Pinecrest Rd
- 49,000 VPDBloomingdale Ave
- 64,800 VPDCombined Traffic
High Traffic Intersection of Major Commuter Corridors
Royal Oaks is strategically situated at the intersection of two major east Tampa thoroughfares — Lithia Pinecrest Rd and Bloomingdale Ave. Bloomingdale Ave runs east and west between I-75, US-301 and several rapidly growing communities in east and southeast Tampa, while Lithia-Pinecrest Rd connects with FL-60 and the city of Brandon, to the north. With a combined 64,800 VPD, the intersection serves as Valrico's community hub — home to the Bloomingdale Sports Complex and Campo YMCA facilities, BayCare's Urgent Care HealthHub, Bloomingdale High School, and Buckhorn Springs Golf & CC.
Affluent, Extremely High Growth Trade Area Demographics
Surrounded by National Outparcel Draws
As part of a very busy consumer node, Royal Oaks is surrounded by a plethora of beneficial nearby OP draws, counting Wawa, Dunkin, Chick-Fil-A, Verizon, Speedway, Fifth Third Bank, Wendy's, Starbucks, Tijuana Flats, Andy's Frozen Custard, and Walgreen's — all of which draw an additional layer of customer traffic to the area throughout the day.
Southeast View
Located at the high traffic intersection of Bloomingdale Ave and Lithia Pinecrest Rd, accessing 64,800 VPD, Royal Oaks is surrounded by community draws, including Bloomingdale Sports Complex, BayCare HealthHub, and Bloomingdale High School.
Anchored by the #7 Crunch Fitness in the nation
In addition to a strong Harbor Freight Tools store, Royal Oaks is anchored by an incredibly high performing Crunch location, which ranks as the #7 store in the United States, according to AlphaMap.
Foot traffic rankings
Source: AlphaMap
Advantageous Mix of E-Commerce Resistant Shops
In addition to a highly successful e-commerce proof anchor in Crunch Fitness, which accounts for over 36% of the total GLA; the shops at Royal Oaks are comprised of a significant service-oriented retail blend, including medical providers like Cora Health, multiple restaurants and F&B like Pizza Hut, beauty and nail salons, real estate offices like Berkshire Hathaway, and family-oriented services like School of Rock and Freedom Martial Arts.
14 of 17
shop tenants at Royal Oaks have annual rent escalations, creating built-in NOI growth for the next iteration of ownership.
Diverse, Service-Oriented Shop Mix
Exclusively Listed By
Kyle Stonis, CCIM
Senior Vice President
License No. SL3210522 (FL)
Pierce Mayson
Senior Vice President
License No. 306418 (GA)
Jeff Enck
Senior Vice President
License No. 210921 (GA)
Boris Shilkrot
Associate Vice President
License No. 391741 (GA)
Broker of Record
Kyle Matthews
License No. BK3554632 (FL)
Firm No. CQ1066435 (FL)