Harmony Plaza – Port Richey, FL

Harmony Plaza – Port Richey, FL

Harmony Plaza – Port Richey, FL
11857 US Highway 19
Port Richey, FL 34668

$4,450,000

Cap Rate 9.06%
Gross Leasable Area (GLA) 82,820 Sq.Ft.
Price Per Square Foot (GLA) $53
Year Built 1973
Lot Size 5.97 Acres
  • Located at Major Lighted Intersection with Traffic Counts of 55,000 and 31,000 Cars per Day Respectively
  • Highest Traffic Count in Pasco County
  • Part of Tampa Bay MSA
  • Seventy Percent Leased to National and Regional Tenants
  • Strong Visibility
  • Big Lots Store Sales Average 5 Percent Year-Over-Year Growth Since 2009
  • Long Term Tenant History
  • Big Lots Has Requested a 10-Year Lease
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Harmony Plaza – Port Richey, FL (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Harmony Plaza is a well located asset at the corner of US Highway 19 and County Road 52 in Port Richey, Florida. This intersection enjoys the highest traffic count in Pasco County. Port Richey is located in Pasco County which is part of the Tampa Bay MSA.

The subject property is largely leased to national and regional tenants who have a long-term history at the property. The tenant mix is ideal for the demographics of both Port Richey and Pasco County. CVS Pharmacy is an outparcel to this shopping center, and though it is not included in this offering, it is currently listed for sale as well.

Pasco County is an attractive area for local residents due to its low housing cost and relaxed lifestyle. Port Richey’s location on US Highway 19 provides residents easy access to Saint Petersburg and Tampa to the south and a convenient route to North Florida.

For More Information, Please Contact:

James Medefind

First Vice President Investments
813-387-4788
james.Medefind@marcusmillichap.com