6507 Massachusetts Ave - Freestanding FOR SALE


New Port Richey, FL 34653- Greater New Port Richey North
$1,895,000 USD
727-992-1674
6507 Massachusetts Ave, New Port Richey, FL for Sale
$1,895,000 USD
Freestanding - FOR SALE
1/13
null | 7.86% Cap Rate

6507 Massachusetts Ave
New Port Richey, FL 34653
Greater New Port Richey North


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 property offers a unique opportunity to acquire a lease in place with Aaron’s Rents, a publicly traded furniture & appliance giant or potentially 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 ceasing their operations in this location, 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. This CVS prototype building benefits from high ceilings with LED's and an abundance of storage/warehouse space. Automatic store front door & canopy with drive-thru to provide easy access for customers. Multiple signage opportunities present a highly visible environment. 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.

FOR SALE DETAILS

PRICE

$1,895,000 USD

PRICE/SF

$174 USD /SF

CAP RATE

7.86%

% 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

Heidi Tuttle-BeisnerCommercial Asset Partners RealtyMore Info
727-992-1674

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Heidi Tuttle-BeisnerCommercial Asset Partners RealtyMore Info
727-992-1674

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