1814 Lecanto HwyLecanto, FL 34461

Property Details for 1814 Lecanto Hwy

Year built

2024

Lot size

2.29 AC

Property size (Sq ft)

16,289 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 16,289 square foot PetSmart storefront located at 1814 N Lecanto Hwy, Lecanto, FL 34461. The property boasts a fee-simple ownership structure with a 10-year net lease (NNN) commencing October 3, 2024, and expiring October 1, 2034, offering a remaining term of 9.9 years. The lease includes corporate guarantees from PetSmart, LLC, a highly rated ("B+" by Standard and Poor's) and financially stable company operating over 1,660 locations. The property features a 6.50% cap rate and a strong net operating income (NOI) of $276,913. Rent increases are built into the lease, with a $1/SF increase every five years. The building, constructed in 2024, is a state-of-the-art prototype design. The 2.29-acre lot provides ample parking with 104 spaces. This location benefits from excellent visibility and access, situated on a road with 41,540 vehicles per day (VPD), and is shadow-anchored by a Walmart Supercenter. The property is also across from a new Target and Aldi anchored center. The surrounding area is experiencing significant residential growth, with thousands of homes in nearby communities such as Black Diamond Ranch, Terra Vista, and Brentwood Farms. Future development plans further enhance the long-term growth potential. This is a rare opportunity to acquire a stabilized, high-performing retail investment with a strong tenant and significant upside potential. The lease includes four, 5-year renewal options.

Location Insight

City

Lecanto

County

Citrus

State

Florida

Latitude

28.8898

Longitude

-82.4858

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].