Learn more about this property

Details: Retail

Asking Price: $7,024,000

Square Feet: 43,441 SF

Asking Cap Rate: 6.00%

Year Built: 1989

Year Renovated: 2023

NOI: $421,470

Lease Structure: Absolute NNN


6400 Massachusetts Avenue, New Port Richey, FL

ALDI acquisition of Southeastern Grocers, the parent company of Winn-Dixie, closed March 8, 2024

•Absolute NNN Lease

Grocer has 27 years of operating history at this location

11-Year Lease Term

ALDI Corporate guaranteeing the lease

$2,800,000 invested into the interior & exterior by Winn-Dixie in 2023

6% Rent Escalation in each option

Five, 5-Year options remaining

•Potential to carveout a +/- .28 acre outparcel included in sale

•Above average 2023 Winn-Dixie sales @ $428psf/ $18,600,342

2.26% Tenant health ratio in 2023

•Sales growth annually

Income Tax Free State

•Tampa MSA Population – 3,150,000

•Located on major commercial corridor

•Massachusetts Ave. has a traffic count of 14,453 ADT

Outparcel opportunity to sell or develop for an investor

Contact us about this property