6135 Salt Springs Rd - Auto Repair FOR SALE


Port Richey, FL 34668
$1,500,000 USD
863-242-5630
6135 Salt Springs Rd, Port Richey, FL for Sale
$1,500,000 USD
Auto Repair - FOR SALE
1/9
null | 6% Cap Rate

6135 Salt Springs Rd
Port Richey, FL 34668


HIGHLIGHTS

  • New 10-Year NNN Lease Through 2036 — Limited Landlord Responsibility (Roof + Lot Pavement Only)
  • 2.5% Annual Escalations Years 1–5 · 3.0% Years 6–10 · Two 5-Year Renewal Options
  • 53,500 AADT on US-19 in Front of Property (FDOT)
  • Equipment Package Conveys with Sale (4 Hunter Lifts, Alignment Rack)
  • 664 Adjacent Multifamily Units — 280 Newly Permitted + 384 Built Within Walking Distance
  • 8 Pull-Through Service Bays

OVERVIEW

Panther Capital Group is pleased to present the exclusive opportunity to acquire a single-tenant Meineke Car Care Center at 6135 Salt Springs Road in Port Richey, Florida — directly on the US-19 retail corridor with 137' of frontage on Salt Springs Road and pylon and monument signage offering strong visibility to the US-19 traffic stream (~53,500 AADT per FDOT). The ±4,750 SF service facility (plus ±1,500 SF mezzanine storage) is 100% leased to a long-tenured Meineke franchisee — NSV Holdings LLC, owned and operated by the Sivanesan family — on a new 10-year NNN lease running through 2036. Rent grows 2.5% annually in years 1–5 and 3.0% in years 6–10, with two 5-year renewal options (5% step-up at the first option, 10% at the second) extending tenant control through 2046. The tenant has invested over $200,000 in capital improvements at this location — fully repaved and striped lot, new exterior cladding and paint, complete interior renovation, new bathrooms, and granite finishes — and the equipment package (4 Hunter lifts, 1 alignment rack, and ancillary equipment) conveys with the sale. Demand fundamentals are strong: 280 newly permitted four-story elevator apartments are slated for the parcel directly west, and 384 garden-style apartments are already built immediately behind that — adding 664 rooftops of new and existing demand within walking distance of the site. The 5-mile trade area holds 137,310 residents and is projected to grow nearly 14% from 2025–2030. Tampa retail vacancy sat at 5.1% in Q1 2026 (Colliers) — among the tightest U.S. metros — with $1.5B of retail investment volume transacted across the MSA in 2025. Priced at a 6.00% cap on $90,000 of in-place NOI. 3% buyer broker fee offered.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$316 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,363 SF

ZONING

C2

APN/PARCEL ID

21-25-16-0000-00700-0000

ASK ABOUT THIS PROPERTY

Hector DelgadoPanther Capital GroupMore Info
863-242-5630

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

Hector DelgadoPanther Capital GroupMore Info
863-242-5630

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