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Mixed-Use

Pasco Retail & Professional Center

5623 US-19, New Port Richey, FL 34652

Listing Price: $2,200,000

Cap Rate
4.54%
Gross SF
29,567
Rentable SF
29,567
Price/Gross SF
$74.41
Lot Size
1.21 acres
Year Built
1974

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire this 30,000 square foot micro suite/executive office in New Port Richey. The property is located on US Highway 19, the main thoroughfare through New Port Richey, with an ADT of over 55,000 VPD. The immediate area is a strong retail corridor with this property being a prominent office building in the market.

The first floor has a mix of retail and office tenants with the rest being local tenants who serve the immediate population, which is growing significantly in Pasco County. With attention to leasing and management, a new owner could achieve a significant double digit pro forma return. Comparable properties with similar business models have much higher occupancies.

Investment Highlights

  • Significant Upside Through Leasing and Management
  • Located on a Densely Populated Corridor Within a Growing Market
  • Located on the Main Thoroughfare with 55,000+ ADT

Exclusively Listed By

Mixed-Use

Pasco Retail & Professional Center

Listing Price: $2,200,000

Cap Rate
4.54%
Gross SF
29,567
Rentable SF
29,567
Price/Gross SF
$74.41
Lot Size
1.21 acres
Year Built
1974

Investment Highlights

  • Significant Upside Through Leasing and Management
  • Located on a Densely Populated Corridor Within a Growing Market
  • Located on the Main Thoroughfare with 55,000+ ADT

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire this 30,000 square foot micro suite/executive office in New Port Richey. The property is located on US Highway 19, the main thoroughfare through New Port Richey, with an ADT of over 55,000 VPD. The immediate area is a strong retail corridor with this property being a prominent office building in the market.

The first floor has a mix of retail and office tenants with the rest being local tenants who serve the immediate population, which is growing significantly in Pasco County. With attention to leasing and management, a new owner could achieve a significant double digit pro forma return. Comparable properties with similar business models have much higher occupancies.

Exclusively Listed By

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