High Visibility Investment Property

Property Details

Description

LQ Commercial Tampa Bay, LLC is pleased to offer for sale the commercial property at 3545, 3561 – 3621, and 3633 US Highway 19, New Port Richey, Florida, totaling ± 5.4 acres of land.

While currently leased to a variety of short-term tenants, current uses are not the highest-and-best uses of the property. Therefore, the offering should be considered a “covered land play” with the asset generating current income but poised for redevelopment and/or re-tenanting.

The offering includes three (3) parcels. The largest is a ± 4.48-acre parcel with over 334’ of frontage on US Highway 19 and improved with a 40,960 SF building that is 100% leased to two tenants – For The Floor (floor covering retailer) and Pall Corporation (space is being used as a warehouse for storage of boxes). The other two parcels include adjacent ± 0.58-acre parcel also fronting on US Highway 19 (179') and a ± 0.34-acre parcel. Other income-generating uses on the parcels include a drive-up coffee shop and seasonal fireworks sales.

The property is located at the northwest quadrant of US Highway 19 and Moog Road, a signalized intersection. This quadrant includes the Universal Mall, a 90,500 SF retail center that the subject parcels are located in front of. Two other separately owned parcels with a CVS drug store and a local pharmacy complete the quadrant.

The surrounding area is experiencing significant, new investment as evidenced by the 2020 purchases of the Universal and Holiday Malls, located adjacent and catty-corner to the property respectively.

In addition, a new Workforce and Innovation Training Center opened nearby and Lennar developed Copperspring, 426-homesite master-planned community approximately two miles away on SR 54.

Landscaping upgrades along US Highway 19 were also recently completed.

The property offers an investor/developer the opportunity to acquire a cash-flowing asset, in a prime location on US Highway 19, with re-tenanting and/or redevelopment opportunity.

The asset is an open slate waiting for a new owner with a vision to take it to the next level.

While currently leased to a variety of short-term tenants, current uses are not the highest-and-best uses of the property. Therefore, the offering should be considered a “covered land play” with the asset generating current income but poised for redevelopment and/or re-tenanting.

LQ Commercial Tampa Bay, LLC is pleased to offer for sale the commercial property at 3545, 3561 – 3621, and 3633 US Highway 19, New Port Richey, Florida, totaling ± 5.4 acres of land.

The offering includes three (3) parcels. The largest is a ± 4.48-acre parcel with over 334’ of frontage on US Highway 19 and improved with a 43,448 SF building that is 100% leased to two tenants – For The Floor (floor covering retailer) and Pall Corporation (space is being used as a warehouse for storage of boxes). The other two parcels include adjacent ± 0.58-acre parcel also fronting on US Highway 19 (179') and a ± 0.34-acre parcel. Other income-generating uses on the parcels include a drive-up coffee shop and seasonal fireworks sales.

The property is located at the northwest quadrant of US Highway 19 and Moog Road, a signalized intersection. This quadrant includes the Universal Mall, a 90,500 SF retail center that the subject parcels are located in front of. Two other separately owned parcels with a CVS drug store and a local pharmacy complete the quadrant.

Highlights

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