Asking Price: $775,000
Building Size: 4,265 SQ FT
Lot Size: 28314
Cost per Square Foot: $181.71
Cap Rate: 8.67%
Pure NNN Lease with Long Term Tenant (over 20 years) in Place - Brand New 5 year lease in place with two x five-year options to renew with escalations. Very successful location with over 250 feet frontage on US 19, one block S. of Main St. Existing Billboard Signage is Grandfathered in with excellent visibility for any business. Large fenced in back lot that is currently set up for Auto/ Boat/RV storage. Includes Billboard ($7,200/ yr lease up for renewal October 2024) New Development Projects City of New Port Richey: New development projects are bringing new style, new energy, and new opportunities across the city
Key Points: Pure NNN Lease with Long Term Tenant in Place - Nearly 5 years remaining on current lease term Very successful location with nearly 300 feet frontage on US 19, one block S. of Main St. Large fenced in back lot that is currently set up for Auto/ Boat/RV storage. Below market rents ($13/sf + NNN) with MASSIVE UPSIDE POTENTIAL Includes Billboard ($7,200/ yr lease up for renewal October 2024) Vibrant growing city of New Port Richey - https://www.cityofnewportrichey.org/city-departments/development/development-ctivity/
Parking: 3.0 spaces per 1,000 sq. ft.