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6709 Ridge Rd - NNN | 7% CAP | OR OWNER USER
1,804 - 3,536 SF Condo Units Offered at $499,000 - $813,583 Per Unit in Port Richey, FL 34668
Investment Highlights
- NEWLY REMODELED CENTER & UNITS | NNN INVESTMENT OR OWNER USER
- HIGH VISIBILITY
- LARGE PYLON SIGN
- ATTRACTIVE CAP RATES & PRICE PER FOOT
- HIGH TRAFFIC
- CREDIT TENANTS
Executive Summary
FULLY LEASED INVESTMENT UNITS AVAILABLE! OWNER USER FULLY REMODELED UNITS AVAILABLE! IMEDIATE OCCUPANCY! The Port Richey Business center is a fully remodeled office/medical building strategically located on Ridge Road, in Port Richey, Florida. Port Richey is part of Tampa Metropolitan Area, which was named top 10 for economic growth in the United States. Florida is one of the top 3 economies in the country and the 14th largest economy in the world. The building has a new roof, new HVAC, new common areas, new sprinkler and fire suppression systems, new porcelain flooring throughout, new LED lighting, new build outs, new pavement, and more. Now offering condo units for sale, for either owner occupants or investors. All units have brand new build outs and should be very easy to maintain and operate. The association takes care of all areas outside of the units and with no expected deferred maintenance, the asset should be very attractive to both users and investors. Limited units available. See listing and download the Offering Memorandum(s) for more details. Call listing broker with any questions you may have!
Property Facts
| Price | $499,000 - $813,583 | Building Class | B |
| Unit Size | 1,804 - 3,536 SF | Floors | 3 |
| No. Units | 5 | Typical Floor Size | 12,278 SF |
| Total Building Size | 40,188 SF | Year Built | 1986 |
| Property Type | Office | Lot Size | 2.09 AC |
| Property Subtype | Medical | Parking Ratio | 3.77/1,000 SF |
| Price | $499,000 - $813,583 |
| Unit Size | 1,804 - 3,536 SF |
| No. Units | 5 |
| Total Building Size | 40,188 SF |
| Property Type | Office |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 12,278 SF |
| Year Built | 1986 |
| Lot Size | 2.09 AC |
| Parking Ratio | 3.77/1,000 SF |
5 Units Available
Unit 106
| Unit Size | 1,804 SF | Sale Type | Investment |
| Price | $499,000 | Cap Rate | 5.08% |
| Price Per SF | $276.61 | NOI | $25,328 |
| Condo Use | Office/Retail |
| Unit Size | 1,804 SF |
| Price | $499,000 |
| Price Per SF | $276.61 |
| Condo Use | Office/Retail |
| Sale Type | Investment |
| Cap Rate | 5.08% |
| NOI | $25,328 |
Description
Unit 106 is offered for sale! With 1,804 RSF, this is a fully remodeled, first floor, corner unit. Fully leased on a long term lease by Capital City Bank.
Sale Notes
Tampa, Florida, MSA!!! A unique opportunity to acquire Capital City Bank's Loan Processing Center. Unit 106 of the Port Richey Business Center is a fully remodeled unit in a fully remodeled building, on busy Ridge Road. The center has been remodeled entirely in 2023, and so was the unit. It has a new roof, new common areas, new piping, new sprinkler system, new fire suppression and fire riser, new porcelain tile all throughout, new HVAC units, new LED lighting, new paint (in and out), new paving, striping, etc.
The lease is NNN with full pass-through for operating expenses, taxes and insurance. Tenant pays Base Rent and Additional Rent (CAM) each month to cover for estimated OPEX with full reimbursement option. In addition, the lease has built in yearly base rent escalations to keep up with rising costs.
The unit has new HVAC unit, new porcelain plank style tile floors, and more. Tenant maintains the interior of the unit and the Association takes care of everything outside of the unit, making this a very easy to manage asset.
The unit benefits of great visibility and access, being a corner unit on the street side of the center, on the first floor.
Please download the Offering Memorandum for more details! At this price point this unit will not last!
Unit 302
| Unit Size | 3,029 SF | Sale Type | Investment |
| Price | $808,000 | Cap Rate | 6.00% |
| Price Per SF | $266.75 | NOI | $48,502 |
| Condo Use | Medical |
| Unit Size | 3,029 SF |
| Price | $808,000 |
| Price Per SF | $266.75 |
| Condo Use | Medical |
| Sale Type | Investment |
| Cap Rate | 6.00% |
| NOI | $48,502 |
Description
Unit 302 is offered for sale! With 3,029 RSF, this is a fully remodeled, third floor, corner medical unit. Fully leased on a long term lease by Abracadabra Pediatrics the unit benefits of a brand new medical build out with 2 in-suite restrooms, a lab area and several medical exam rooms.
Sale Notes
Tampa, Florida, MSA!!! A unique opportunity to acquire a fully leased medical unit. Abracadabra Pediatrics signed a new 10 year lease up to 2033.
Unit 302 of the Port Richey Business Center is a fully remodeled and built to suit medical unit in a fully remodeled building, on busy Ridge Road. The center has been remodeled entirely in 2023, and so was the unit. It has a new roof, new common areas, new piping, new sprinkler system, new fire suppression and fire riser, new porcelain tile all throughout, new HVAC units, new LED lighting, new paint (in and out), new paving, striping, etc.
The lease is NNN with full pass-through for operating expenses, taxes and insurance. Tenant pays Base Rent and Additional Rent (CAM) each month to cover for estimated OPEX with full reimbursement option. In addition, the lease has built in yearly base rent escalations to keep up with rising costs.
The unit has new HVAC unit, new porcelain plank style tile floors, and more. Tenant maintains the interior of the unit and the Association takes care of everything outside of the unit, making this a very easy to manage asset.
The unit benefits of a brand new medical build out with 2 ins-suite restrooms, a lab and several exam rooms. The corner placement ensures great visibility, natural light and access.
Please download the Offering Memorandum for more details! At this price point this unit will not last!
Unit 303
| Unit Size | 3,536 SF | Sale Type | Investment |
| Price | $783,000 | Cap Rate | 7.00% |
| Price Per SF | $221.44 | NOI | $54,808 |
| Condo Use | Office/Medical |
| Unit Size | 3,536 SF |
| Price | $783,000 |
| Price Per SF | $221.44 |
| Condo Use | Office/Medical |
| Sale Type | Investment |
| Cap Rate | 7.00% |
| NOI | $54,808 |
Description
Unit 303 is offered for sale! With 3,536 RSF, this is a fully remodeled, third floor, corner office/medical insurance sales unit. Fully leased on a long term lease by Vantage Care Insurance, a broker for Vantage Health, the unit benefits of a brand new build out with an in-suite kitchenette, a bull pen, conference room, reception and private offices.
Sale Notes
Tampa, Florida, MSA!!! A unique opportunity to acquire a fully leased medical insurance unit. Vantage Insurance signed a new 5 year lease with renewal options in place.
Unit 303 of the Port Richey Business Center is a fully remodeled and built to suit medical insurance unit, in a fully remodeled building, on busy Ridge Road.
The center has been remodeled entirely in 2023, and so was the unit. It has a new roof, new common areas, new piping, new sprinkler system, new fire suppression and fire riser, new porcelain tile all throughout, new HVAC units, new LED lighting, new paint (in and out), new paving, striping, etc.
The lease is NNN with full pass-through for operating expenses, taxes and insurance. Tenant pays Base Rent and Additional Rent (CAM) each month to cover for estimated OPEX with full reimbursement option. In addition, the lease has built in yearly base rent escalations to keep up with rising costs.
The unit has new HVAC unit, new porcelain plank style tile floors, and more. Tenant maintains the interior of the unit and the Association takes care of everything outside of the unit, making this a very easy to manage asset.
The unit benefits of a brand new build out and the corner placement ensures great natural light and access.
Please download the Offering Memorandum for more details! At this price point this unit will not last!
Unit 310
| Unit Size | 2,047 SF | Condo Use | Office/Medical |
| Price | $499,000 | Sale Type | Investment or Owner User |
| Price Per SF | $243.77 |
| Unit Size | 2,047 SF |
| Price | $499,000 |
| Price Per SF | $243.77 |
| Condo Use | Office/Medical |
| Sale Type | Investment or Owner User |
Description
BRAND NEW UNIT! GREAT FOR AN OWNER USER OR INVESTOR! The unit was fully remodeled in 2023 and its a beautiful corner unit with lots of windows and natural light. Two in-suite restrooms, plank style porcelain tile, new LED lights, new ceiling tiles, etc.
The center was remodeled completely in 2023 as well. New everything!!! New Roof, New HVAC, New Sprinkler System, New Paint (in and out), New Parking Pavement, New Common Areas, Porcelain Tile Throughout, New Piping, etc.
Sale Notes
The unit is primed for an owner user. Own instead of paying rent!!! This is a great and unique opportunity to pick up a fully remodeled unit for under $250/RSF. Call today for showings and download the Offering Memorandum for additional information. Don't hesitate to call listing broker with any questions you may have, or to submit an offer!
Unit 208
| Unit Size | 3,201 SF | Sale Type | Investment or Owner User |
| Price | $813,583 | Cap Rate | 6.00% |
| Price Per SF | $254.17 | NOI | $48,815 |
| Condo Use | Office/Medical |
| Unit Size | 3,201 SF |
| Price | $813,583 |
| Price Per SF | $254.17 |
| Condo Use | Office/Medical |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.00% |
| NOI | $48,815 |
Description
Unit 208 is a second floor, corner suite in the Port Richey Business Center. The unit is in “brand new” condition as it was built to suit the tenant’s needs in 2023. All new porcelain tile flooring throughout, new HVAC, new LED lights, new everything! It is fully leased by Nurse On Call, a subsidiary of HCA Florida Healthcare, a publicly traded company with over 500 locations.
Sale Notes
The lease is Corporate Guaranteed! HCA Florida Healthcare is a publicly traded company with over 570 locations, including 49 hospitals, 40+ free standing ERs, 30 surgery centers and 9 imaging centers. The lease is NNN on a longer term, yearly bumps and renewal options in place. Cannot hope a better tenant!
The center has been heavily remodeled in 2023 with a new roof, new paint (inside and out), new piping, new HVAC, new landscaping, new parking pavement and striping, new sprinkler and fire suppression system, new common areas, and more. Port Richey Business Center is strategically located on busy Ridge Road! The unit is very easy to maintain with the association taking care of everything on the exterior of the unit. The unit is in excellent condition with very minor wear and tear. The 80+ high end cubicles are being sold with the unit!!! Very low association fees in this newly remodeled building!! Call today for more information!
Amenities
- Banking
- Controlled Access
zoning
| Zoning Code | C1, County (Commercial) |
| C1, County (Commercial) |
-
Costel Vanatoru -
VanWald & Associates
Presented by
6709 Ridge Rd - NNN | 7% CAP | OR OWNER USER
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