6709 Ridge RdPort Richey, FL 34668

This exceptional investment opportunity presents a fully remodeled 1,804 square foot medical office condo, Unit 106, within the Port Richey Business Center at 6709 Ridge Rd, Port Richey, FL 34668. The property boasts a strong 5.08% cap rate and a substantial Net Operating Income (NOI) of $25,328. Currently 100% occupied by a credit-rated tenant, Capital City Bank Loan Processing Center, under a Net Lease (NNN) agreement, this single-tenant property offers significant financial stability. The lease commenced January 1, 2023, and extends through December 31, 2027, with a remaining term of approximately 3.1 years. The lease includes a 4% annual rent increase, mitigating inflationary pressures. The building underwent a complete renovation in 2023, including a new roof, common areas, piping, sprinkler system, fire suppression, fire riser, porcelain tile, HVAC units, LED lighting, paint (interior and exterior), and paving. The unit itself is a build-to-suit space featuring new HVAC, porcelain plank tile flooring, and a kitchenette. The property's convenient corner location on Ridge Road ensures high visibility and accessibility. The association maintains exterior areas, simplifying ownership. This is a turnkey investment with a long-term lease and a creditworthy tenant, offering a compelling return on investment. The permitted zoning is C1, County. Lease options are available. The asking price is $499,000, translating to $276.61 per square foot.