Office Unit with Pylon
For Sale
$169,000
Pending
6609 RIDGE Road, Port Richey, FL 34668
Commercial Sale, PORT RICHEY, FL
Property Size1,000 SF
Lot Size0.02 Acres
Days on Market93
Property Features for 6609 RIDGE Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MF2
Subdivision
RIDGE GARDENS OFFICE PARK A
Directions
N on 54 , right on to little rd, left on to Ridge rd to the address.
Standard status
Pending
APN
16-25-28-014.J-004.00-00M.0
Size
1,000 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RIDGE GARDENS OFFICE PARK A CONDOMINIUM PHASE 2 AKA RIDGE CREST GARDENS COMMERCIAL CONDOMINIUMS PHASE 2 OR 1410 PGS 531-535 BLDG 4 UNIT M & COMMON ELEMENTS
Tax Annual Amount
1491
Legal Description
RIDGE GARDENS OFFICE PARK A CONDOMINIUM PHASE 2 AKA RIDGE CREST GARDENS COMMERCIAL CONDOMINIUMS PHASE 2 OR 1410 PGS 531-535 BLDG 4 UNIT M & COMMON ELEMENTS
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1981
Floors in Building
1
Flooring type
Carpet, Laminate
Building materials
Concrete
Roof type
Shingle
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Sujata Katikala · License #3057328
(813) 618-3279
Added: May 29
Changed: Aug 29
Last Checked: Aug 29 at 2:06PM
MLS# TB8513396
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 1,000-square-foot office condominium includes three offices and one restroom within a concrete building constructed in 1981. Interior finishes include laminate and carpet flooring, with a shingle roof and public water and sewer service. A pylon sign serves the property along Ridge Road, and parking is available at both the front and rear of the building.
The property is located in Port Richey, less than 2 miles from US 19 Hwy. Ridge Road Center plaza is across the street, with Pizza Hut, Family Dollar, and an upcoming Latin market identified nearby. The office is currently occupied, and the existing tenant is flexible regarding whether to remain or vacate. Zoning is MF2.
The property is located in Port Richey, less than 2 miles from US 19 Hwy. Ridge Road Center plaza is across the street, with Pizza Hut, Family Dollar, and an upcoming Latin market identified nearby. The office is currently occupied, and the existing tenant is flexible regarding whether to remain or vacate. Zoning is MF2.
Key Highlights
- 1,000‑square‑foot office condominium with 3 offices and 1 restroom
- Pylon sign positioned along busy Ridge Road
- Parking available in front and behind the building
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
$6,748
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
3.99%
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%
$134,960
$135.0K
Cap Rate 7%
$96,400
$96.4K
Cap Rate 9%
$74,978
$75.0K
Market Conditions
NOI Build-Up for 1,000 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
$11.0K $11.04/SF
− Vacancy
−$2.0K −$2.04/SF
EGI
$9.0K $9.00/SF
− OpEx
−$2.2K −$2.25/SF
NOI
$6.7K $6.75/SF
Area
Pasco County, FL
Vacancy
18.50%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
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%
$134,960
Cap Rate 7%
$96,400
Cap Rate 9%
$74,978
Alternative Uses
Best Use
Office B
$96.4K
$84.4K – $112.5K
NOI $6,748 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$227.8K
$199.3K – $265.8K
NOI $15,946 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,004
Businesses Nearby
Explore this area
Business Placement
Demographics for 34668, FL
48,781
Population
23,883
Households
2
Avg Household Size
45
Median Age
13%
College-Educated
88%
High-School Grad
15.5 sq mi
ZIP Area
3,147
Density / Sq Mi
$45,760
Median Household Income
$35,610
Median Earnings
$1,278
Median Rent
$168,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Occupied office condominium with three offices, a restroom, and parking at the front and rear.
Where is this office units located?
The property is located at 6609 RIDGE Road Port Richey, FL.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 1,000‑square‑foot office condominium with 3 offices and 1 restroom; Pylon sign positioned along busy Ridge Road; Parking available in front and behind the building
