Medical Office with Flexible
For Sale
$589,988
10129 LITTLE Road, New Port Richey, FL 34654
Commercial Sale, NEW PORT RICHEY, FL
Property Size2,337 SF
Lot Size1.09 Acres
Price / SF$252.46
Days on Market568
Property Features for 10129 LITTLE Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
ER
Subdivision
GOLDEN ACRES
Directions
From US HWY 19, turn left onto Little Road and the property will be on the right.
Standard status
Active
APN
16-25-14-0020-00000-0100
Size
2,337 SF
Lot size
1.09 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
GOLDEN ACRES UNIT ONE PB 7 PG 82 POR OF TRACT 10 DESC AS FOLL: COM AT MOST ELY COR OF TRACT 10 FOR POB TH ALG WLY R/W LINE OF LITTLE RD (F/K/A PLAZA DR) S20DEG06' 48"W 221.66 FT TH N60DEG18' 12"W 242.38 FT TH N27DEG01' 39"E 224.46 TO NLY BDY OF TRACT 10 TH S58DEG48' 16"E 216 FT TO POB; EXC LITTLE ROAD R/W PAR- CEL 229 BEING POR OF TRACT 10 DESC AS FOLL: COM AT MOST SLY COR OF TRACT 10 TH N19DEG30' 47"E ALG WLY R/W LINE OF LITTLE RD 228.34 FT FOR POB TH N60DEG54' 13"W 15.22 FT TH N19 DEG30' 47"E 222.07 FT TH S59DG 24' 17"E 15.30 FT TO WLY R/W LINE OF LITTLE RD TH S19DEG30' 47"W 221.66 FT TO POB SUBJECT TO SLOPE EASEMENT PER OR 7295 PG 1204
Tax Annual Amount
2607
Legal Description
GOLDEN ACRES UNIT ONE PB 7 PG 82 POR OF TRACT 10 DESC AS FOLL: COM AT MOST ELY COR OF TRACT 10 FOR POB TH ALG WLY R/W LINE OF LITTLE RD (F/K/A PLAZA DR) S20DEG06' 48"W 221.66 FT TH N60DEG18' 12"W 242.38 FT TH N27DEG01' 39"E 224.46 TO NLY BDY OF TRACT 10 TH S58DEG48' 16"E 216 FT TO POB; EXC LITTLE ROAD R/W PAR- CEL 229 BEING POR OF TRACT 10 DESC AS FOLL: COM AT MOST SLY COR OF TRACT 10 TH N19DEG30' 47"E ALG WLY R/W LINE OF LITTLE RD 228.34 FT FOR POB TH N60DEG54' 13"W 15.22 FT TH N19 DEG30' 47"E 222.07 FT TH S59DG 24' 17"E 15.30 FT TO WLY R/W LINE OF LITTLE RD TH S19DEG30' 47"W 221.66 FT TO POB SUBJECT TO SLOPE EASEMENT PER OR 7295 PG 1204
Utilities
Utilities
Phone Available
Sewer type
Private Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Well
Amenities
ADA-compliant entrance ramp and restroom
reception area
administrative office space
garage/storage area
kitchen/break room
illuminated monument sign
screened porch
paved patio
Building Details
Year built
1979
Building materials
Concrete, Stone, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY- PALM H
(727) 772-0772
Listed By:
Brandon Rimes · License #3228106
(813) 917-1894
Added: Feb 18, 2025
Changed: Aug 24
Last Checked: Sep 9 at 5:06PM
MLS# TB8348638
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,337-square-foot medical office property occupies 1.09 acres at 10129 Little Road in New Port Richey. The building dates to 1979 and has a flexible interior without load-bearing walls, allowing reconfiguration. Existing improvements include a reception area, administrative office space, integrated garage or storage area, kitchen or break room, two full bathrooms, two half bathrooms, an ADA-compliant entrance ramp and restroom, rear screened porch, and paved rear patio. Concrete, stone, and stucco construction is complemented by a shingle roof installed in 2020.
Access is provided by two curb cuts and a circular driveway, with over a dozen paved parking spaces. The property fronts Little Road, a six-lane corridor, and is near SR 52, US-19, the Suncoast Parkway, and public transportation. Zoning is ER, with private well and sewer service.
Access is provided by two curb cuts and a circular driveway, with over a dozen paved parking spaces. The property fronts Little Road, a six-lane corridor, and is near SR 52, US-19, the Suncoast Parkway, and public transportation. Zoning is ER, with private well and sewer service.
Key Highlights
- 2,337 square feet on 1.09 acres
- Flexible interior with no load‑bearing walls
- Two curb cuts, circular driveway, and over a dozen paved parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,555
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$431,100
$431.1K
Cap Rate 7%
$307,929
$307.9K
Cap Rate 9%
$239,500
$239.5K
Market Conditions
NOI Build-Up for 2,337 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.3K $16.80/SF
− Vacancy
−$3.3K −$1.43/SF
EGI
$35.9K $15.37/SF
− OpEx
−$14.4K −$6.15/SF
NOI
$21.6K $9.22/SF
Area
Pasco County, FL
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$431,100
Cap Rate 7%
$307,929
Cap Rate 9%
$239,500
Alternative Uses
Best Use
Healthcare Medical
$307.9K
$269.4K – $359.3K
NOI $21,555 @ 7.0% cap · market cap 3.65%
Second Best
Office B
$225.3K
$197.1K – $262.9K
NOI $15,771 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$532.4K
$465.8K – $621.1K
NOI $37,265 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34654, FL
23,508
Population
10,372
Households
2.3
Avg Household Size
48
Median Age
22%
College-Educated
88%
High-School Grad
25.3 sq mi
ZIP Area
929
Density / Sq Mi
$64,210
Median Household Income
$41,221
Median Earnings
$1,449
Median Rent
$257,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - ADA access, multiple restrooms, paved parking, and reception space support professional operations.
Where is this medical office space located?
The property is located at 10129 LITTLE Road New Port Richey, FL.
What is the asking price?
The asking price for this property is $589,988.
What are key features of this property?
This property features: 2,337 square feet on 1.09 acres; Flexible interior with no load‑bearing walls; Two curb cuts, circular driveway, and over a dozen paved parking spaces
