Deer Park Medical Plaza New Port Richey,Florida

$3,575,000
Available
Property type:Single-Tenant Net Lease

The space

  • Price: $3,575,000
  • Cap Rate: 7.00%
  • Rentable Square Feet: 9,250
  • Net Operating Income: $250,317
  • Price PSF: $386.48
  • Occupancy: 100%
  • Land Area: 0.22 Acres
  • Year Built: 2007

Description

5138 Deer Park Drive
New Port Richey, FL 34653

Investment Highlights

  • 9,250 Square Feet of Multi-Tenant Retail & Medical Space, 100% Occupied
  • Located on Little Road With More Than 33,000 Vehicles Daily
  • Located at Signalized Intersection, Across from Starbucks and McDonald’s
  • Tampa-St. Petersburg Metro Area Contains Roughly 3.1 Million Residents
  • Five Miles from Pasco-Hernando State College with an Enrollment of More Than 11,525 Students
  • Within Walking Distance from Publix-Anchored Center; Other Surrounding National Retailers Including Verizon, Walgreens, Dunkin Donuts, Starbucks, McDonald’s, Mavis Tires & Brakes and More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Deer Park Medical Plaza, a multi-tenant retail/medical center located in New Port Richey, Florida. The subject property includes approximately 9,250 square feet of space.

The leases for both Fluent and Select Medical offer attractive three percent increases annually. VA Dental offers a 6 percent rent increase in January 2022, providing a buyer an almost immediate boost to the income of the property. Select Medical has been a tenant in the plaza since 2005 and VA Dental since 2009 reflecting the stability of the plaza.

The subject property is on Little Road with more than 33,000 vehicles daily. Deer Park Medical Plaza is within walking distance of a Publix-Anchored Center and five miles from Pasco-Hernando State College with an enrollment of more than 11,525 students. Surrounding national brands include Verizon, Walgreens, Dunkin Donuts, Starbucks, McDonald’s, Mavis Tires & Brakes and More.

The Subject Property is part of the Tampa-St. Petersburg metropolitan area containing roughly 3.1 million residents. Tourism plays a significant role in the economy; local attractions include Busch Gardens Tampa, Adventure Island, the Lowry Park Zoo, and the Florida Aquarium.

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