Independent Square 

5901 US-19 | New Port Richey, Florida 34652

Contact Brokers

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

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

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com

(O) 813-387-4788
FL #SL3216834

Highlights

  • Independent Square is currently 91% occupied giving investors an extremely rare opportunity to acquire a 23,000 square foot shopping center and immediately add value upon acquisition.

  • Multiple month-to-month tenants on the rent roll are paying well below market rents giving an investor the ability to increase rents upon acquiring Independent Square.

  • With more than 148,000 people within 5 miles of the subject property, Independent Square has ideal demographics for long term stability and rent growth.

  • With direct frontage and excellent visibility on U.S. Highway 19, the busiest road in Pasco County, Independent Square has exposure to more than 60,000 cars per day and is surrounded by the nation’s leading retailers.

Description

Marcus & Millichap is pleased to present Independent Square, a rare opportunity for an investor to purchase a shopping center in the submarket of New Port Richey, FL. The center is currently 91% occupied and has multiple month-to-month tenants on the rent roll are paying well below market rents giving investors an extremely rare opportunity to acquire a 23,000 square foot center and immediately add value upon acquisition. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location. With direct frontage and excellent visibility on U.S. Highway 19, the busiest road in Pasco County, Independent Square has exposure to more than 60,000 cars per day and is surrounded by the nation’s leading retailers.