New Port Richey, FL - Winn Dixie

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, Winn-Dixie Supermarket investment property located in New Port Richey, FL (Tampa-St. Pete-Clearwater MSA). The tenant recently exercised their first of 5 option periods, extending the initial term through January 2029 and demonstrating their commitment to the site. The lease features a 13% rental increase in February 2024 followed by 6% rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is guaranteed by Southeastern Grocers and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Founded in 1925, Winn-Dixie is among the largest supermarket chains based in the southeast.

Winn-Dixie is strategically located at the signalized, hard corner intersection of Massachusetts Avenue and Congress Street, averaging a combined 26,300 vehicles passing by daily. The property also benefits from nearby access onto U.S. Highway 19 (63,000 VPD), providing direct access into Clearwater and St. Petersburg. The property is ideally situated within a dense trade area and serves as the anchor tenant to Congress Crossings. The additional nearby tenants include Save-a-Lot, Dollar General, Aaron’s, Walgreens, Harbor Freight Tools, and others. The strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is near numerous single-family communities and multi-family complexes including Magnolia Place (80 units), Richey Woods (95 units), High Points Apartments (95 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 152,500 residents and 46,000 daytime employees, with an average annual household income of $67,423.