10290 Regency Park Blvd - Freestanding FOR SALE


Port Richey, FL 34668- Bayonet Point
$3,035,000 USD
727-452-6864
10290 Regency Park Blvd, Port Richey, FL for Sale
$3,035,000 USD
Freestanding - FOR SALE
1/4
null | Request Cap Rate

10290 Regency Park Blvd
Port Richey, FL 34668
Bayonet Point


HIGHLIGHTS

  • Absolute NNN with Tenant responsible for all maintenance and replacement at the property
  • Fixed annual rent escalations increase in-place income 16% before the first renewal decision arrives
  • Tenant funds roof, structure, parking lot, and HVAC under a mandatory quarterly service contract, holding capital exposure at zero
  • Taxes and insurance reimburse at 100%, providing stable cash flow for investors
  • Hard corner at the signalized US-19 and Regency Park Boulevard intersection, with median cut and turn lane
  • Never converted to dispensary finishes, so a buyer inherits a clean shell rather than single-use improvements to demolish

OVERVIEW

RIPCO Real Estate is pleased to offer for sale 10290 Regency Park Boulevard, a 6,215 square foot freestanding former bank building with a covered drive-thru, positioned on the hard corner of US-19 and Regency Park Boulevard in Port Richey, Florida. The absolute NNN lease runs through October 2032, leaving roughly 6.3 years remaining, and is guaranteed by Cresco Labs, Inc., the publicly traded operator of the Sunnyside dispensary brand. Rent escalates 3% every lease year and the same escalation continues through three 5-year options. US-19 is the primary north-south retail corridor through western Pasco County, and the site holds frontage on both roads at a signalized intersection with a median cut and dedicated turn lane. The Tenant has not opened the store and has paid rent from commencement, so the income underwrites to the Cresco Labs guaranty rather than store sales, and the building remains an unconverted shell rather than a single-use build-out. The asset would suit an investor seeking management-free income backed by public company credit, on real estate that re-tenants or a potential early buyout for a covered land play.

FOR SALE DETAILS

PRICE

$3,035,000 USD

PRICE/SF

$488 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Sunnyside (Dark)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Bank, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

C2

APN/PARCEL ID

16-25-16-054A-00000-00A0

ASK ABOUT THIS PROPERTY

Ari RaviRIPCO Real EstateMore Info
727-452-6864

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Ari RaviRIPCO Real EstateMore Info
727-452-6864

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