Remodeled Office Suite with New
For Sale
$349,999
6609 RIDGE Road, Port Richey, FL 34668
SINGLE_FAMILY - PORT RICHEY, FL
Property Size2,080 SF
Lot Size2.12 Acres
Price / SF$168.27
Days on Market996
Property Features for 6609 RIDGE Road
General Information
Property type
Residential
Property subtype
Office
Zoning
MF2
Security features
Security System
Pets allowed
Yes
Appliances
Refrigerator
Subdivision
RIDGE GARDENS OFFICE PARK A
Lot features
Central Business District, Sidewalk, Street Lights, Paved
Directions
19 TO WEST ON RIDGE ROAD BUILDING IS ON THE LEFT.
Standard status
Active
APN
28-25-16-014J-00400-00N0
Size
2,080 SF
Lot size
2.12 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
RIDGE GARDENS OFFICE PARK A CONDOMINIUM PHASE 2 AKA RIDGE CREST GARDENS COMMERCIAL CONDOMINIUMS PHASE 2 OR 1410 PG 531-535 BLDG 4 UNIT N O P & Q & COMMON ELEMENTS OR 9209 PG 3570
Tax Annual Amount
1998
Legal Description
RIDGE GARDENS OFFICE PARK A CONDOMINIUM PHASE 2 AKA RIDGE CREST GARDENS COMMERCIAL CONDOMINIUMS PHASE 2 OR 1410 PG 531-535 BLDG 4 UNIT N O P & Q & COMMON ELEMENTS OR 9209 PG 3570
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Floors in Building
1
Flooring type
Laminate
Building materials
Block, Concrete, Stucco
Roof type
Tile
Listing Agency:
F I GREY & SON RESIDENTIAL · Coldwell Banker Real Estate
(727) 495-2424
Listed By:
Jeanine Affetto · License #3026821
(727) 967-4487
Added: Nov 14, 2023
Changed: Aug 2
Last Checked: Aug 6 at 1:06PM
MLS# W7859439
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.
Remodeled office suite with a new tile roof installed March 2025, set on 2.12 acres. The 2,080 SF building is configured to operate as one office or be separated into two offices. The space is wired for security and includes a bathroom and a kitchen in building #4. Building #2 has one bathroom and a separate waiting room.
The property is located at 6609 Ridge Road in Port Richey, FL and is served by public water and public sewer. Construction includes block, concrete, and stucco, with central electric heating and central air conditioning.
Zoned MF2, the HOA covers outside maintenance, including the roof. A phone line is available, and the property’s amenities include a refrigerator and laminate flooring.
The property is located at 6609 Ridge Road in Port Richey, FL and is served by public water and public sewer. Construction includes block, concrete, and stucco, with central electric heating and central air conditioning.
Zoned MF2, the HOA covers outside maintenance, including the roof. A phone line is available, and the property’s amenities include a refrigerator and laminate flooring.
Key Highlights
- New tile roof installed March 2025
- 2,080 SF office suite on 2.12 acres
- Flexible layout: one office or separated into two offices
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
$14,036
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
4.01%
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%
$280,720
$280.7K
Cap Rate 7%
$200,514
$200.5K
Cap Rate 9%
$155,956
$156.0K
Market Conditions
NOI Build-Up for 2,080 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
$23.0K $11.04/SF
− Vacancy
−$4.2K −$2.04/SF
EGI
$18.7K $9.00/SF
− OpEx
−$4.7K −$2.25/SF
NOI
$14.0K $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%
$280,720
Cap Rate 7%
$200,514
Cap Rate 9%
$155,956
Alternative Uses
Best Use
Office B
$200.5K
$175.5K – $233.9K
NOI $14,036 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$473.8K
$414.6K – $552.8K
NOI $33,167 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,014
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 - Remodeled office property on 2.12 acres with a new tile roof installed March 2025 and flexible space for one or two offices.
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 $349,999.
What are key features of this property?
This property features: New tile roof installed March 2025; 2,080 SF office suite on 2.12 acres; Flexible layout: one office or separated into two offices
