Adaptable Commercial Property on Little
For Sale
$589,988
10129 LITTLE Rd, New Port Richey, FL 34654
Versatile commercial property with high visibility and accessibility.
Property Size2,337 SF
Lot Size1.09 Acres
Price / SF$256.52
Days on Market153
Property Features for 10129 LITTLE Rd
General Information
Standard status
Active
Size
2,337 SF
Lot size
1.09 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,607
Building Details
Building Size
2,337 SF
Year Built
1979
Listing Agency:
Keller Williams Realty
(813) 917-1894
Listed By:
Brandon Rimes · License #3228106
(813) 917-1894
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This commercial property offers over 2,300 sq. ft. of space on over an acre along Little Road, a six-lane corridor. The location provides exposure and accessibility, with proximity to SR 52, US-19, the Suncoast Parkway, and public transportation. Formerly a chiropractic office, the property is designed for flexibility, suitable for professional, medical, or commercial uses. The building has no interior load-bearing walls, allowing for customization. Two curb cuts and a circular driveway facilitate ingress and egress, with over a dozen paved parking spaces. An ADA-compliant entrance ramp and restroom are included, along with a reception area, administrative office space, an integrated garage/storage area, and a kitchen or break room. A functional illuminated monument sign enhances street visibility. The load-bearing structural setup supports interior modifications. Additional amenities include two full bathrooms and two half bathrooms, a rear screened porch, and a paved rear patio. A new roof was installed in 2020. The property also presents an opportunity for conversion to an income-producing short-term rental or Airbnb-style use, subject to zoning and local regulations.
Key Highlights
- High‑visibility location on Little Road with easy access to major highways.
- Adaptable 2,300+ sq. ft. building on over an acre with no load‑bearing walls, allowing for easy customization.
- Excellent accessibility with two curb cuts, a 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
$22,580
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
3.83%
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%
$451,600
$451.6K
Cap Rate 7%
$322,571
$322.6K
Cap Rate 9%
$250,889
$250.9K
Market Conditions
NOI Build-Up for 2,300 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
$34.5K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$32.3K $14.03/SF
− OpEx
−$9.7K −$4.21/SF
NOI
$22.6K $9.82/SF
Area
Pasco County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$451,600
Cap Rate 7%
$322,571
Cap Rate 9%
$250,889
Alternative Uses
Best Use
Retail
$322.6K
$282.3K – $376.3K
NOI $22,580 @ 7.0% cap · market cap 3.83%
Second Best
Healthcare Medical
$303.0K
$265.2K – $353.6K
NOI $21,213 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$523.9K
$458.4K – $611.3K
NOI $36,675 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Versatile commercial property with high visibility and accessibility.
Where is this medical office space located?
The property is located at 10129 LITTLE Rd 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: High‑visibility location on Little Road with easy access to major highways.; Adaptable 2,300+ sq. ft. building on over an acre with no load‑bearing walls, allowing for easy customization.; Excellent accessibility with two curb cuts, a circular driveway, and over a dozen paved parking spaces.
