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Shopping Strip

Independent Square

5901 US-19, New Port Richey, FL 34652

Listing Price: $1,800,000

Cap Rate
5.02%
Gross SF
23,000
Rentable SF
23,000
Price/Gross SF
$78.26
Lot Size
0.92 acres
Year Built
1967

Investment Overview

Marcus & Millichap is pleased to present Independent Square, a rare opportunity for an investor to purchase a shopping center in the submarket of New Port Richey, FL. The center is currently 91% occupied and has multiple month-to-month tenants on the rent roll are paying well below market rents giving investors an extremely rare opportunity to acquire a 23,000 square foot center and immediately add value upon acquisition. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location. With direct frontage and excellent visibility on U.S. Highway 19, the busiest road in Pasco County, Independent Square has exposure to more than 60,000 cars per day and is surrounded by the nation’s leading retailers.

Investment Highlights

  • Independent Square is currently 91% occupied giving investors an extremely rare opportunity to acquire a 23,000 square foot shopping center and immediately add value upon acquisition.
  • Multiple month-to-month tenants on the rent roll are paying well below market rents giving an investor the ability to increase rents upon acquiring Independent Square.
  • With more than 148,000 people within 5 miles of the subject property, Independent Square has ideal demographics for long term stability and rent growth.
  • With direct frontage and excellent visibility on U.S. Highway 19, the busiest road in Pasco County, Independent Square has exposure to more than 60,000 cars per day and is surrounded by the nation's leading retailers.

Exclusively Listed By

Shopping Strip

Independent Square

Listing Price: $1,800,000

Cap Rate
5.02%
Gross SF
23,000
Rentable SF
23,000
Price/Gross SF
$78.26
Lot Size
0.92 acres
Year Built
1967

Investment Highlights

  • Independent Square is currently 91% occupied giving investors an extremely rare opportunity to acquire a 23,000 square foot shopping center and immediately add value upon acquisition.
  • Multiple month-to-month tenants on the rent roll are paying well below market rents giving an investor the ability to increase rents upon acquiring Independent Square.
  • With more than 148,000 people within 5 miles of the subject property, Independent Square has ideal demographics for long term stability and rent growth.
  • With direct frontage and excellent visibility on U.S. Highway 19, the busiest road in Pasco County, Independent Square has exposure to more than 60,000 cars per day and is surrounded by the nation's leading retailers.

Investment Overview

Marcus & Millichap is pleased to present Independent Square, a rare opportunity for an investor to purchase a shopping center in the submarket of New Port Richey, FL. The center is currently 91% occupied and has multiple month-to-month tenants on the rent roll are paying well below market rents giving investors an extremely rare opportunity to acquire a 23,000 square foot center and immediately add value upon acquisition. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location. With direct frontage and excellent visibility on U.S. Highway 19, the busiest road in Pasco County, Independent Square has exposure to more than 60,000 cars per day and is surrounded by the nation’s leading retailers.

Exclusively Listed By

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