4044 Lecanto HwyBeverly Hills, FL 34465

Property Details for 4044 Lecanto Hwy

Year built

2024

Lot size

1.25 AC

Property size (Sq ft)

54,606 SF

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a brand-new, fee-simple Advance Auto Parts store, constructed in 2024, boasting a 15-year net lease with a corporate guarantee. Located on a 1.25-acre lot in Beverly Hills, Florida (34465), this Class A property features 6,889 net rentable square feet within a 54,606 total square foot building. The property benefits from a modified NNN lease structure, with the tenant responsible for roof and parking lot maintenance, although the roof includes a 20-year manufacturer warranty. Situated approximately two miles from the Shoppes of Black Diamond (a new development including Target, ALDI, and other national retailers opening in Q1/Q2 2024), this location enjoys high visibility and traffic due to its adjacency to Walgreens and shared access at a signalized intersection. The property's strategic placement completes a five-store Advance Auto Parts cluster, establishing market dominance in Citrus County. The lease includes attractive 10% rent bumps every five years throughout the base term and three, five-year option periods, ensuring strong future returns. The property offers 34 parking spaces and is part of a thriving regional trade area, serving a substantial population base. The asking price is $2,996,428, representing a 5.60% cap rate and a price per square foot of $54.87. The current NOI is $167,800, with 100% occupancy commencing May 3, 2024. This is a rare opportunity to acquire a high-quality, strategically located net-lease property with a strong tenant and significant growth potential.

Location Insight

City

Beverly Hills

County

Citrus

State

Florida

Latitude

28.9228

Longitude

-82.4651

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