Zephyrhills, FL - Walgreens

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, Walgreens investment property located in Zephyrhills, Florida (Tampa MSA). The tenant, Walgreen Co., has over 12 years remaining on its lease with 12 (5-year) options to extend. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The property is positioned on a signalized, hard corner along Highway 54/Pure Water Way (18,600 VPD), offering excellent visibility and access on a large 1.55-acre parcel. This intersection anchors a heavily trafficked retail node, with Winn-Dixie and Save A Lot located directly across the street, and a mix of national retailers including 7-Eleven, CVS, Dunkin’, Dollar General, Dollar Tree, Hardee’s, and Ace Hardware, drawing consistent daily traffic to the immediate trade area. The tenant benefits from a dense, direct consumer base including 5,000 multifamily/apartment units within 2-miles, several assisted-living facilities (800+ beds), and a
rapidly expanding residential pipeline. New residential communities such as D.R. Horton’s Harvest Ridge community, less than a mile away, and Lennar’s 650-home development just north of the site, provide further room for growth. The location is further strengthened by proximity to major medical employment anchors, including AdventHealth Zephyrhills, Florida Medical Clinic, and Orlando Health facilities approximately two miles away. This concentration of retail, housing, and healthcare activity reflects the sustained growth of the Tampa MSA, which continues to attract residents seeking more affordable, suburban alternatives with strong connectivity to Tampa. The surrounding trade area encompasses more than 88,000 residents and 18,000 employees within five miles, supported by average household incomes above $90,000 and a projected 4.54% population increase through 2030, driven both by Zephyrhills’ significant new development activity and the broader migration patterns shaping the Tampa Bay region.

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Listing ID: a28TP000001yA8nYAE