Corporate-Guaranteed Absolute NNN
For Sale
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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 Market269
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) 320-0050
Listed By:
Gene Ruiz · License #SL3522718
(813) 921-5641
Source:
Moodyscre
Added: Feb 2
Changed: Oct 26
Last Checked: Oct 28 at 8:48AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$195,466
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,909,320
$3.9M
Cap Rate 7%
$2,792,371
$2.8M
Cap Rate 9%
$2,171,844
$2.2M
Market Conditions
NOI Build-Up for 19,910 SF
Gross rent
$298.7K $15.00/SF
− Vacancy
−$19.4K −$0.98/SF
EGI
$279.2K $14.03/SF
− OpEx
−$83.8K −$4.21/SF
NOI
$195.5K $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 Rate 5%
$3,909,320
Cap Rate 7%
$2,792,371
Cap Rate 9%
$2,171,844
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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Groceries 26%
Dining 6%
Dollar Tree
Shops & Services
11,664 visits/mo
0.2 miles
Dollar General
Shops & Services
8,683 visits/mo
0.1 miles
Save-A-Lot
Groceries
7,378 visits/mo
0.2 miles
Chevron
Shops & Services
6,713 visits/mo
0.2 miles
Winn-Dixie
Groceries
5,169 visits/mo
0.2 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
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
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)
