6135 Salt Springs Rd - Auto Repair FOR SALE


Port Richey, FL 34668
$1,343,000 USD
863-242-5630
6135 Salt Springs Rd, Port Richey, FL for Sale
$1,343,000 USD
Auto Repair - FOR SALE
1/9
null | 6.7% 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 located at 6135 Salt Springs Road in Port Richey, Florida. The property is positioned just off the US-19 retail corridor, one of Pasco County’s primary commercial arteries, with 137 feet of frontage on Salt Springs Road and both pylon and monument signage providing strong visibility to the US-19 traffic stream, which sees approximately 53,500 vehicles per day per FDOT. The property consists of a ±4,750 SF automotive service facility with an additional ±1,500 SF mezzanine storage area. The asset is 100% leased to NSV Holdings LLC, a Meineke franchise operator owned and operated by the Sivanesan family, under a 10-year NNN lease running through February 2036. The lease provides $90,000 of in-place annual rent, with scheduled increases to $92,256 in Year 3 and $99,828 in Year 6. The lease also includes two 5-year renewal options, extending potential tenant control through 2046. The tenant has invested over $200,000 in improvements, including a fully repaved and striped parking lot, new exterior cladding and paint, a complete interior renovation, new bathrooms, and upgraded finishes. The equipment package, including four Hunter lifts, one alignment rack, and ancillary equipment, conveys with the sale. The site benefits from strong surrounding demand drivers, including a 280-unit apartment project planned directly west of the property and 384 existing garden-style apartments immediately behind it. Together, these projects represent 664 new and existing residential units within walking distance. The 5-mile trade area includes 137,310 residents and is projected to grow nearly 14% from 2025 to 2030. The broader Tampa Bay retail market remains fundamentally strong, with retail vacancy reported at 5.1% in Q1 2026 and approximately $1.5 billion of retail investment volume transacted across the MSA in 2025. The property is priced at $1,417,000, representing a 6.35% cap rate on $90,000 of in-place NOI. A 3.00% buyer broker fee is offered.

FOR SALE DETAILS

PRICE

$1,343,000 USD

PRICE/SF

$283 USD /SF

CAP RATE

6.7%

% 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

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Hector DelgadoPanther Capital GroupMore Info
863-242-5630

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