NNN Multi-Tenant Income
For Sale
Contact for pricing
6442 Land O Lakes Blvd, Land O Lakes, FL 34637
NNN-oriented multi-tenant property in Land O Lakes, Florida, with 100% occupancy across seven tenants.
Property Size13,823 SF
Price / SF$321.81
Days on Market143
Property Features for 6442 Land O Lakes Blvd
General Information
Standard status
Active
Size
13,823 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
Matthews Real Estate Investment Services | Fort Lauderdale
(866) 899-0550
Listed By:
Jake Lurie · License #SL3510801
(561) 512-1658
Source:
Moodyscre
Added: Apr 28
Changed: Sep 9
Last Checked: Sep 15 at 11:52AM
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 Matthews Real Estate Investment Services | Fort Lauderdale
Investment Insights
Based on property information with market context.
NNN multi-tenant income property located at 6442 Land O Lakes Blvd in Land O Lakes, Florida. The asset totals 13,823 square feet and is currently 100% occupied by seven tenants. Operationally, the ownership structure is designed to keep day-to-day landlord exposure limited, with six of the seven tenants operating under NNN leases.
The property’s mix of tenant lease structures supports a relatively streamlined management and expense profile compared with arrangements where the landlord typically assumes a larger share of operating costs. This makes the building especially relevant for buyers seeking a stable, tenant-occupied retail asset with NNN characteristics.
With the current occupancy level and NNN leasing component already in place, the property provides a straightforward, income-focused platform for an investor or buyer looking for a multi-tenant setup within the NNN property category.
The property’s mix of tenant lease structures supports a relatively streamlined management and expense profile compared with arrangements where the landlord typically assumes a larger share of operating costs. This makes the building especially relevant for buyers seeking a stable, tenant-occupied retail asset with NNN characteristics.
With the current occupancy level and NNN leasing component already in place, the property provides a straightforward, income-focused platform for an investor or buyer looking for a multi-tenant setup within the NNN property category.
Key Highlights
- 13,823 SF NNN‑oriented multi‑tenant property
- 100% occupied by seven tenants
- Six of seven tenants operate under NNN leases
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
$135,707
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
3.05%
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%
$2,714,140
$2.7M
Cap Rate 7%
$1,938,671
$1.9M
Cap Rate 9%
$1,507,856
$1.5M
Market Conditions
NOI Build-Up for 13,823 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
$207.3K $15.00/SF
− Vacancy
−$13.5K −$0.98/SF
EGI
$193.9K $14.03/SF
− OpEx
−$58.2K −$4.21/SF
NOI
$135.7K $9.82/SF
Area
Pasco County, FL
Vacancy
6.50%
Lease Rate
$15.00 /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%
$2,714,140
Cap Rate 7%
$1,938,671
Cap Rate 9%
$1,507,856
Alternative Uses
Best Use
Retail
$1.94M
$1.70M – $2.26M
NOI $135,707 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.15M
$2.76M – $3.67M
NOI $220,416 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,201 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
484 visits/mo
0.3 miles
Demographics for 34637, FL
9,763
Population
3,875
Households
2.5
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
14.8 sq mi
ZIP Area
660
Density / Sq Mi
$114,328
Median Household Income
$54,540
Median Earnings
$1,747
Median Rent
$385,700
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?
NNN property - NNN-oriented multi-tenant property in Land O Lakes, Florida, with 100% occupancy across seven tenants.
Where is this nnn property located?
The property is located at 6442 Land O Lakes Blvd Land O Lakes, FL.
What is the asking price?
The asking price for this property is $4,448,439.
What are key features of this property?
This property features: 13,823 SF NNN‑oriented multi‑tenant property; 100% occupied by seven tenants; Six of seven tenants operate under NNN leases
