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6135 Salt Springs Rd 4,750 SF Retail Building Port Richey, FL 34668 $1,417,000 ($298.32/SF) 6.35% Cap Rate
Investment Highlights
- New 10-Year NNN Lease Through 2036 — Limited Landlord Responsibility (Roof + Lot Pavement Only)
- 53,500 AADT on US-19 in Front of Property (FDOT)
- 664 Adjacent Multifamily Units — 280 Newly Permitted + 384 Built Within Walking Distance
- 2.5% Annual Escalations Years 1–5 · 3.0% Years 6–10 · Two 5-Year Renewal Options
- Equipment Package Conveys with Sale (4 Hunter Lifts, Alignment Rack)
- 8 Pull-Through Service Bays
Executive Summary
Panther Capital Group is pleased to present the exclusive opportunity to acquire a single-tenant Meineke Car Care Center located at 6135 Salt Springs Road in Port Richey, Florida. The property is positioned just off the US-19 retail corridor, one of Pasco County’s primary commercial arteries, with 137 feet of frontage on Salt Springs Road and both pylon and monument signage providing strong visibility to the US-19 traffic stream, which sees approximately 53,500 vehicles per day per FDOT.
The property consists of a ±4,750 SF automotive service facility with an additional ±1,500 SF mezzanine storage area. The asset is 100% leased to NSV Holdings LLC, a Meineke franchise operator owned and operated by the Sivanesan family, under a 10-year NNN lease running through February 2036.
The lease provides $90,000 of in-place annual rent, with scheduled increases to $92,256 in Year 3 and $99,828 in Year 6. The lease also includes two 5-year renewal options, extending potential tenant control through 2046.
The tenant has invested over $200,000 in improvements, including a fully repaved and striped parking lot, new exterior cladding and paint, a complete interior renovation, new bathrooms, and upgraded finishes. The equipment package, including four Hunter lifts, one alignment rack, and ancillary equipment, conveys with the sale.
The site benefits from strong surrounding demand drivers, including a 280-unit apartment project planned directly west of the property and 384 existing garden-style apartments immediately behind it. Together, these projects represent 664 new and existing residential units within walking distance. The 5-mile trade area includes 137,310 residents and is projected to grow nearly 14% from 2025 to 2030.
The broader Tampa Bay retail market remains fundamentally strong, with retail vacancy reported at 5.1% in Q1 2026 and approximately $1.5 billion of retail investment volume transacted across the MSA in 2025.
The property is priced at $1,417,000, representing a 6.35% cap rate on $90,000 of in-place NOI. A 3.00% buyer broker fee is offered.
The property consists of a ±4,750 SF automotive service facility with an additional ±1,500 SF mezzanine storage area. The asset is 100% leased to NSV Holdings LLC, a Meineke franchise operator owned and operated by the Sivanesan family, under a 10-year NNN lease running through February 2036.
The lease provides $90,000 of in-place annual rent, with scheduled increases to $92,256 in Year 3 and $99,828 in Year 6. The lease also includes two 5-year renewal options, extending potential tenant control through 2046.
The tenant has invested over $200,000 in improvements, including a fully repaved and striped parking lot, new exterior cladding and paint, a complete interior renovation, new bathrooms, and upgraded finishes. The equipment package, including four Hunter lifts, one alignment rack, and ancillary equipment, conveys with the sale.
The site benefits from strong surrounding demand drivers, including a 280-unit apartment project planned directly west of the property and 384 existing garden-style apartments immediately behind it. Together, these projects represent 664 new and existing residential units within walking distance. The 5-mile trade area includes 137,310 residents and is projected to grow nearly 14% from 2025 to 2030.
The broader Tampa Bay retail market remains fundamentally strong, with retail vacancy reported at 5.1% in Q1 2026 and approximately $1.5 billion of retail investment volume transacted across the MSA in 2025.
The property is priced at $1,417,000, representing a 6.35% cap rate on $90,000 of in-place NOI. A 3.00% buyer broker fee is offered.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,750 SF
Building Class
B
Year Built/Renovated
1988/2026
Price
$1,417,000
Price Per SF
$298.32
Cap Rate
6.35%
NOI
$90,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
0.72 AC
Zoning
C2 - C-2 General Commercial — broad commercial uses permitted including retail, service, automotive, and office.
Parking
28 Spaces (5.89 Spaces per 1,000 SF Leased)
Amenities
- Mezzanine
- Pylon Sign
- Signage
- Storage Space
- Monument Signage
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Meineke Car Care Center
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Meineke Car Care Center | Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Very drivable
80/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 21-25-16-0000-00700-0000 | Improvements Assessment | $344,320 |
| Land Assessment | $155,274 | Total Assessment | $499,594 |
Property Taxes
Parcel Number
21-25-16-0000-00700-0000
Land Assessment
$155,274
Improvements Assessment
$344,320
Total Assessment
$499,594
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6135 Salt Springs Rd
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