Tampa MSA WAG New 15 Yr NNN Lease w 5% Incr 36515 State Road 54

We are pleased to market for sale the Walgreens property located at 36515 State Road 54 in Zephyrhills, Florida ("The Property"). Walgreens has been operating at this location for over 14 years and signed a new 15-year absolute net lease with no landlord responsibilities whatsoever, demonstrating their long-term commitment to the site. The lease includes 5% rental increases every 5 years in the initial term and each of the 12 (5-year) options.
This opportunity allows investors to purchase a corporate-guaranteed, absolute net-leased asset in a rapidly growing market in a tax-free state. Recently, Zephyrhills became the largest city in Pasco County, with its population increasing by more than 29% since 2010.
The Property is strategically located in a major residential development area with over 950 new homes currently under construction. D.R. Horton is building 300 new homes less than a mile east, and Lennar is adding 650 homes 2 miles north to accommodate the rapidly growing population.
In addition to residential development, major employers are investing in the Zephyrhills market such as MiTek investing $80 million to build a new 480,000 square foot facility and Bauducco Foods investing $200 million into building a 400,000-square-foot facility, together adding more than 700 jobs to the local economy.
The Property benefits from the aging population, with the median age in Zephyrhills and 70% of the total population over 50 years old. There are 7 nursing homes/assisted living facilities within 3 miles of the Property, totaling approximately 762 beds, providing a strong catalyst for the properties pharmacy segment.
Listed in association with Brian Brockman, Bang Realty, 513.898.1551, wg@bangrealty.com, FL DRE Lic. BK3327646.