7002 State Road 54 - Freestanding FOR SALE


New Port Richey, FL 34653- Seven Springs
$1,040,000 USD
813-765-4274
7002 State Road 54, New Port Richey, FL for Sale
$1,040,000 USD
Freestanding - FOR SALE
1/3
null | 6.3% Cap Rate

7002 State Road 54
New Port Richey, FL 34653
Seven Springs


OVERVIEW

This offering presents the opportunity to acquire a fully renovated single-tenant retail asset leased to Trulieve Cannabis Corp., one of the largest cannabis operators in the United States. The property is secured by a corporate guaranteed triple-net (NNN) lease with approximately 8.3 years of remaining term and 3.00% annual rent increases, providing investors with stable income and built-in rental growth. The tenant operates under a NNN lease structure and is responsible for property taxes, insurance, and maintenance, resulting in minimal landlord obligations. The building recently underwent a comprehensive renovation including a new roof, new HVAC systems, upgraded façade, site improvements, and a full interior build-out, significantly reducing near-term capital expenditure risk. Strategically located at the southeast corner of State Road 54 and Celine Avenue in New Port Richey, Florida, the property benefits from traffic counts exceeding 50,000 vehicles per day, more than 200 feet of frontage, and multiple points of ingress and egress including median break access. The surrounding trade area is supported by the continued expansion of Pasco County, one of the fastest-growing counties in the United States, with population growth of approximately 30% over the past decade. This combination of a nationally recognized tenant, long-term lease with annual rent increases, recent capital improvements, and strong population growth positions the asset as a compelling net-lease investment opportunity.

FOR SALE DETAILS

PRICE

$1,040,000 USD

PRICE/SF

$433 USD /SF

CAP RATE

6.3%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Single Tenant NNN Trulieve

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

C2

APN/PARCEL ID

22-26-16-0010-00A00-0000

ASK ABOUT THIS PROPERTY

Gene RuizRIPCO Real EstateMore Info
813-765-4274

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Gene RuizRIPCO Real EstateMore Info
813-765-4274

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