6507 Massachusetts Ave New Port Richey, FL 34653

Property Details for 6507 Massachusetts Ave

Year built

1998

Lot size

0.98 lot acres

Property size

11,097 SF

Zone code

000C

Property type

Retail space

APN

33-25-16-0110-00C00-0090

APU

332516011000C000090

Description

This 10,908 square foot retail building in New Port Richey, Florida, presents a compelling investment or owner-user opportunity. Currently leased to Aaron's Furniture under a corporate-guaranteed Absolute Net (NNN) lease expiring April 1, 2028, offering a remaining lease term of approximately 3.4 years. The property features a 1.54-acre lot with 44 parking spaces, high ceilings, grade-level loading, and multiple ingress/egress points. A 2019 renovation updated the showroom with state-of-the-art fixtures and finishes. The building boasts prominent signage opportunities at a four-way lighted intersection with over 400 feet of frontage on Massachusetts Ave and Congress St, experiencing a combined 25,000 vehicles per day. Its strategic location is less than 2.5 miles from the "New Port Corners" development, a large-scale project encompassing 3,397 residential units and 4.8 million square feet of commercial space. The property's proximity to US 19 and Little Road further enhances its visibility and accessibility. The asking price is $1,950,000, representing a price per square foot of $178.77 and a 7.64% cap rate with a Net Operating Income (NOI) of $148,894. Built in 1998, the single-story Class B building is zoned C2 and benefits from its location in a rapidly growing area of Pasco County, Florida, known for its strong demographics and customer base. The property is ideal for a variety of retail uses, including daycare, grocery, or pharmacy.

Location Insight

City

New Port Richey

County

Pasco

State

Florida

Longitude

-82.7069

Latitude

28.259

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments