The Pasco Hub Near Downtown New Port Richey 13,310 SF Office Building New Port Richey, FL 34652 $1,896,294 CAD ($142.47 CAD/SF)

Under contract – strong interest, backup offers encouraged
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13,310 SF Opportunity Zone Office Building | Owner Financing Available
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The vacant condition allows a buyer to fully customize the interior layout to maximize income potential. With strategic renovation and repositioning, the property has the potential to achieve $40+ per square foot in lease rates, resulting in projected net annual income exceeding $365,000 and a Cap Rate of 17% (see attached brochure). With Stabilized NOI, building worth $4M+. Contact the seller for additional details on the repositioning strategy.
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Opportunity Zone can be better than a 1031 Exchange. The purchase can be made using ANY type of Capital Gains, and under new OZ laws, buyer gets at least a 10% reduction and 5 year deferment on Capital Gains, and if building is held for 10 years or longer, NO depreciation recapture and the building, and any businesses started in building, are tax free! Ask seller for details.
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The property consists of two parcels, including a dedicated parking lot, giving a total of 48 parking spaces. The parking area may double as the city will strongly consider giving George Street, a newly paved road adjacent to the building, as additional parking, for free.
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The site is positioned on a high-visibility intersection in an area experiencing major revitalization, including:
A new 8-acre mixed-use development directly across the street (see last photo)
A 357-home residential development located three blocks away
Recent city improvements, including new roadways, pedestrian-friendly sidewalks, antique-style street lighting, and landscaping
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Under contract – strong interest, backup offers encouraged
The property may also offer potential for mixed-use or residential conversion, subject to zoning and approvals. In addition, city incentive programs up to 20% for all improvements may be available.
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Seller Financing Available -Flexible terms with below-market interest rates, minimal down payment, and interest-only payment options available for qualified buyers.
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Ownership will consider all reasonable offers from qualified buyers. Buyer Brokers protected – 2.5% commission if buyer needs owner financing and 3% commission if no owner financing used.