Corporate-Guaranteed Absolute NNN
For Sale
Contact for pricing
6445 Massachusetts Ave, New Port Richey, FL 34653
Two properties leased on a corporate-guaranteed absolute NNN basis, providing in-place cash flow with combined NOI of $282,689.
Property Size19,910 SF
Price / SF$198.39
Days on Market178
Property Features for 6445 Massachusetts Ave
General Information
Standard status
Active
Size
19,910 SF
Property subtype
RETAIL
Listing Agency:
RIPCO Real Estate | Tampa
(813) 921-5641
Listed By:
Edward Kemp · License #SL3395691
(813) 921-5642
Source:
Moodyscre
Added: Feb 2
Changed: Jul 26
Last Checked: Jul 30 at 1:28PM
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 RIPCO Real Estate | Tampa
Investment Insights
Based on property information with market context.
This offering includes two retail properties with corporate-guaranteed absolute NNN leases and a combined NOI of $282,689, supported by a three-year WALT. The leases are structured as “absolute NNN,” with tenants responsible for property taxes, insurance, CAM, roof, and structure.
The properties are positioned at a four-way signalized intersection with approximately 1,450 feet of combined frontage along Massachusetts Avenue. Major capital expenditures have been completed, including a new roof and parking lot at 6507 Massachusetts Avenue (Aaron’s Dark).
The Dollar General location is described as ranking in the top 90% nationally and as the #1 performing store out of 25 within a 15-mile radius, per Placer AI. ALDI and McDonald’s are also noted as having recent investments along the Massachusetts Avenue corridor.
The properties are positioned at a four-way signalized intersection with approximately 1,450 feet of combined frontage along Massachusetts Avenue. Major capital expenditures have been completed, including a new roof and parking lot at 6507 Massachusetts Avenue (Aaron’s Dark).
The Dollar General location is described as ranking in the top 90% nationally and as the #1 performing store out of 25 within a 15-mile radius, per Placer AI. ALDI and McDonald’s are also noted as having recent investments along the Massachusetts Avenue corridor.
Key Highlights
- Corporate‑guaranteed absolute NNN leases with combined NOI of $282,689 and a 3‑year WALT
- Tenants pay property taxes, insurance, CAM, roof, and structure under the NNN structure
- Major capex completed: new roof and parking lot at 6507 Massachusetts Avenue (Aaron’s Dark)
Financial Insights For 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 | $298.7k | $15.00 |
| − Vacancy | −$19.4k | −$0.98 |
| EGI | $279.2k | $14.03 |
| − OpEx | −$83.8k | −$4.21 |
| NOI | $195.5k | $9.82 |
19,910 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.79M
$2.44M – $3.26M
NOI $195,466 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.54M
$3.97M – $5.29M
NOI $317,477 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
45k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Groceries 28%
Dining 6%
Dollar Tree
Shops & Services
11,664 visits/mo
0.3 miles
Dollar General
Shops & Services
8,683 visits/mo
0.3 miles
Save-A-Lot
Groceries
7,378 visits/mo
0.4 miles
Chevron
Shops & Services
6,713 visits/mo
0.3 miles
Winn-Dixie
Groceries
5,169 visits/mo
0.3 miles
Demographics for 34653, FL
33,381
Population
17,752
Households
1.9
Avg Household Size
49
Median Age
18%
College-Educated
90%
High-School Grad
10.9 sq mi
ZIP Area
3,062
Density / Sq Mi
$47,660
Median Household Income
$35,327
Median Earnings
$1,222
Median Rent
$180,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Two properties leased on a corporate-guaranteed absolute NNN basis, providing in-place cash flow with combined NOI of $282,689.
Where is this nnn property located?
The property is located at 6445 Massachusetts Ave New Port Richey, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Corporate‑guaranteed absolute NNN leases with combined NOI of $282,689 and a 3‑year WALT; Tenants pay property taxes, insurance, CAM, roof, and structure under the NNN structure; Major capex completed: new roof and parking lot at 6507 Massachusetts Avenue (Aaron’s Dark)
