Dollar General Plaza

6600 U.S. Highway 19 | New Port Richey, Florida 34652

Contact Brokers

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com
(O) 813-387-4788
FL #SL3216834

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Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

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James Garner, CCIM
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

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Evan Cannan
Investment Advisor 
Evan.Cannan@MarcusMillichap.com
(C) (727) 480-1362 

(O) (813) 387-4765
FL #SL3433461

Highlights

  • Prime Retail Location - Ideally located on US Highway 19 which is the main north-south thoroughfare that runs along the west coast of Florida. US Highway 19 sees more than 59,000 cars per day.

  • Priced at a 7.70% cap rate on in-place income, Dollar General Plaza will provide attractive cash flow day one. With 8,000 sq-ft of vacant space, it is also an immediate value add opportunity.

  • Replaceable Rental Rates - Dollar General Plaza is home to numerous long-term tenants resulting in a number of tenants paying rents substantially below market.

  • No Near-Term Capital Expenditures Needed - The current ownership has invested a substantial amount of money in improving the property recently. Including but not limited to a brand-new parking lot, new roof with transferrable 20-year warranty (see listing agent for details), updated façade, new exterior paint and more.

Description

Marcus & Millichap is pleased to present Dollar General Plaza, a truly rare investment opportunity for an investor to purchase a shopping center with a proven track record of success in the submarket of New Port Richey, FL. This unique investment opportunity is ideally located on US Highway 19 – the main north-south thoroughfare that runs along the west coast of Florida. US Highway 19 sees more than 59,000 cars per day making it the primary retail corridor in the region. Additionally, this dense infill, high barrier to entry location has the lowest rental rates in the submarket which minimizes tenant rollover and provides further upside to a new investor. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.