6507 Massachusetts Ave - Freestanding FOR SALE


New Port Richey, FL 34653
$1,950,000 USD
727-376-4900
6507 Massachusetts Ave, New Port Richey, FL for Sale
$1,950,000 USD
Freestanding - FOR SALE
1/12
null | 7.64% Cap Rate

6507 Massachusetts Ave
New Port Richey, FL 34653


HIGHLIGHTS

  • Absolute Net Investment or Owner-User opportunity - 10,908 sf Free-standing Retail Building on 1.54 acres
  • Aaron's Rents (The Aaron's Company Inc.) has dissolved operations at this location but retains a corporate guaranteed absolute net lease through 4/28
  • Zero Landlord responsibility - Tenant is responsible for property taxes, insurance & common area maintenance including roof & structure
  • Property presents an amazing opportunity to acquire a free-standing building, at 4-way lighted intersection, w/ over 400 ft of aggregate frontage
  • 10,908 sf of GLA on 1.54 ac parcel w/ 44 spaces, 15' ceilings, grade-level loading capability, multiple ingress/egress points & building & pylon signs
  • Building experienced a full renovation of the showroom in 2019 providing state-of-the-art fixtures & finishes for a new occupant

OVERVIEW

Commercial Asset Partners is pleased to exclusively offer this versatile retail asset centrally located in New Port Richey – a fast growing city in west Pasco County. This acquisition offers a unique opportunity to ac-quire Aaron’s Rents – a publicly traded furniture & appliance giant or utilize the building as an owner-occupant. Aaron's vacated this location in late February, 2024 but retains a Corporate Guaranteed Lease through April, 2028. Prior to dissolving their operations, they occupied the property for over a decade and maintained it in first class condition. Headquartered in Atlanta, Aaron’s is a leading, technology enabled, omni-channel provider of lease-to-own & retail purchase solutions for furniture & appliances. There is a strong demographic and customer base for the building. This CVS prototype building benefits from high ceilings with state-of-the-art light display. The abundance of storage space and grade loading capability presents a functional asset for distribution and high-volume retail operations. Automatic store front door & canopy with drive-thru increase access for customers. Multiple signage opportunities present a highly visible environment for your tenant or business. Pasco County has been recognized as one of the fastest growing counties in the country with an astounding 30% growth in the past decade and 3.8% annually. New Port Richey is one of the more well-established cities in the west Pasco submarket poised for a population uptick. Less than 2.5 miles to the new, large community development "New Port Corners" on Little Road and Decubellis Road / Massachusetts Ave in New Port Richey. The development will encompass 3,397 single and multifamily homes. The project also includes 4.8 million square feet of commercial, retail, and office space.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$179 USD /SF

CAP RATE

7.64%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Investment or Owner-User Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.54 AC

LAND SF

67,082 SF

ZONING

C-2

APN/PARCEL ID

33-25-16-0110-00C00-0061,33-25-16-0110-00C00-0090

ASK ABOUT THIS PROPERTY

Eugene RuizCommercial Asset Partners RealtyMore Info
727-376-4900

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Eugene RuizCommercial Asset Partners RealtyMore Info
727-376-4900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.