County Road 54 Zephyrhills, FL 33542
- Warehouses
- 52,000 SF
- 7.82 lot acres
Current Use by Public Records
- Warehouses
Property Details for 0 County Road 54
- Year built
- 1981
- Lot size
- 7.82 lot acres
- Property size
- 52,000 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 52,000-square-foot single-tenant industrial warehouse in Zephyrhills, Florida, within the robust Tampa MSA. The property, built in 1981, sits on a 7.82-acre lot and boasts 24-foot ceilings, two dock-high doors, and ample parking for 86 vehicles. Currently 100% occupied by Century Boats, a leading luxury fishing boat manufacturer, under a 10-year absolute NNN lease with a corporate guarantee, this sale-leaseback offers a secure, passive income stream. The lease features a $9.15/SF annualized rate with 3% annual rent increases and two five-year extension options. The property's strategic location near US 301 and less than 40 miles from Port Tampa Bay provides excellent access to transportation networks. The substantial lot size allows for future expansion, and adjacent railroad tracks offer potential for railway access. With a current NOI of $476,000 and an asking price of $5,300,000, this offering presents a compelling 9% cap rate. Century Boats, established in 1926, occupies the building as its sole manufacturing facility, demonstrating its mission-critical nature. The company's substantial order backlog positions it for significant future growth. This property represents a rare opportunity to acquire a high-quality industrial asset in a thriving market with a long-term, secure tenant.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Zephyrhills
- County
- Pasco
- State
- Florida
- Longitude
- -82.1749
- Latitude
- 28.2519
