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28254031
28254032

5139 Little Rd, New Port Richey, FL 34655

TS
CA - 02051284
Matthews
MM
CA CA 01982943
Matthews
TS
CA 02238285
Matthews
Listed by Matthews
$4,986,609
209 days on market
Updated 76 days ago

Monticciolo Family & Sedation Dentistry | Abs NNN | +14 Yrs

Details
Property Type Office
Sub Type Medical Office
Square Footage 6,742
Cap Rate 5.75%
NOI $286,730
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 07/31/2040
Remaining Term 15
Rent Bumps Yes
Lease Options Four, 5-Year Options
Broker Co-Op Yes
Year Built 2022
Year Renovated 2010
Buildings 1
Stories 1
Acreage 0.940
Investment Type Net Lease
Lease Commencement 07/18/2025
Ground Lease No
Ownership Fee Simple

Best-In Class-Tenant | Long-Term Absolute NNN Lease | Explosive Population Growth

Investment highlights

  • Best-In Class-Tenant — This New Port Richey office is among Monticciolo’s largest and best-performing locations, making it a mission critical location for the company. The company provides a full range of general dentistry services but stands out as a leader in sedation dentistry, a set a of techniques and practices used to help patients stay comfortable and minimize pain during treatment.

  • Absolute NNN Lease — Healthcare properties are rarely offered as completely hands off investments with no landlord responsibilities. This lease structure is perfect for any investor
    looking for a property without any expense, management, or maintenance responsibilities.

  • High Growth, Recession Resistant, $187 Billion Industry — Dentistry is one of the largest industries in healthcare and grows by an average of 5.3% annually. This offering provides the opportunity to acquire a property within one of the most important areas of healthcare.

  • Robust & Growing Retail Corridor — The property sits within an extremely well positioned retail corridor and is across the street from a Publix anchored shopping center. The property benefits from extremely high visibility as Little Rd sees over 44,000 cars per day directly in front of the building.

  • Explosive Population Growth — Within five miles of the property, the area has seen a massive population boom, growing over 8.50% from 2020-2024. This growth is projected
    to ramp up to 20% over the next four years, with the number of residents growing from 166,000 to over 200,000 by 2029.

  • Zero Income Tax State — Florida having no income tax makes this an ideal investment for anyone in Florida or other income tax free states.

  • Specialized Use & Tenant Investment in Location — It is highly cost prohibitive for dental practices to relocate due to having one of the highest build-out costs across all medical
    specialties. Practices tend to stay put due to difficulty in retaining the same patients after moving. Monticciolo has operated at this location for over a decade and just signed a 15-year lease for the location.

Listing Contacts

TS
CA - 02051284
Matthews
MM
CA CA 01982943
Matthews
TS
CA 02238285
Matthews
Listed by Matthews

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$286,730.00
$23,894.17/mo

Valuation Metrics

0
DSCR
5.75%
Cap Rate
5.75%
ROI

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Additional Information

Name
Kyle Matthews
License
BK3554632, CQ1066435 (FL)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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