For Sale
  • For Sale
  • For Lease
  • Recently Sold
  • Property Lookup
  • Brokers

7420 Fl-54 New Port Richey, FL 34655

Sponsored
For Sale
$5,354,000

High-Yield NNN Lease, Florida

Property size:
15,120 SF

Description

Added:
Dec 11, 2024
Days on Market:
393
This exceptional investment opportunity presents a fee-simple, 15,120 square foot Walgreens located at a signalized intersection in New Port Richey, Florida. The property boasts a strong 10.8 years remaining on a corporate-guaranteed Absolute NNN lease with a 6.50% cap rate and a substantial NOI of $347,760. The lease commenced September 1, 2022, and expires August 31, 2035, with twelve 5-year renewal options, each including a 5% rent increase. Situated on a 1.35-acre lot with 52 parking spaces, the property benefits from excellent visibility and access, with a daily traffic count exceeding 77,500 vehicles. The location is strategically positioned near Pasco Square Mall, multiple schools, and a major hospital, contributing to consistent high traffic volume. The property was built in 2000 and enjoys 100% occupancy. This investment offers a rare opportunity to acquire a high-performing, low-maintenance asset in a rapidly growing area with a projected population increase of over 5% in the next five years. The Tampa Bay Area's robust economy, driven by major industries including tourism, healthcare, and finance, further enhances the long-term value of this property. The Walgreens tenant is a publicly traded company (NASDAQ: WBA), providing additional security and stability. This is a truly exceptional opportunity for a discerning investor seeking a secure, high-yield, and long-term investment.

Property Features for 7420 Fl-54

General Information

Property type
Individual retail properties
Square Feet
15,120 SF
Lot Size
58,806 SF

Building Details

Year Built
2000

HighLights

  • 15,120 SF Walgreens on a 1.35‑acre lot with 52 parking spaces in New Port Richey, FL.
  • Fee‑simple, NNN lease with no landlord responsibilities.
  • Corporate‑guaranteed lease (NASDAQ: WBA) with 10.8 years remaining and twelve 5‑year renewal options, each with a 5% rent increase.
  • High‑traffic location at a signalized intersection with over 77,500 vehicles per day.
  • Strong projected population growth of over 5% in the next five years.
Property Profile Location Intelligence

Current Use by Public Records

Drug stores

Map

City
New Port Richey
County
Pasco
State
Florida
Longitude
-82.6921158
Latitude
28.2166016

FAQs

What type of property is this?
Individual retail property - High-Yield NNN Lease, Florida
Where is this individual retail property located?
The property is located at 7420 Fl-54 New Port Richey, FL.
What is the asking price?
The asking price for this property is $5,354,000.
What are key features of this property?
This property features: 15,120 SF Walgreens on a 1.35-acre lot with 52 parking spaces in New Port Richey, FL.; Fee-simple, NNN lease with no landlord responsibilities.; Corporate-guaranteed lease (NASDAQ: WBA) with 10.8 years remaining and twelve 5-year renewal options, each with a 5% rent increase.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message