Multi-Tenant Warehouse
New
For Sale
$2,699,999
11918 MANCINI, New Port Richey, FL 34654
Fully leased industrial asset with four bays across two metal buildings and a fenced area for outdoor storage.
Property Size16,000 SF
Lot Size2.47 Acres
Price / SF$168.75
Days on Market3
Property Features for 11918 MANCINI
General Information
Standard status
Active
Size
16,000 SF
Lot size
2.47 Acres
Property subtype
Industrial
Occupancy
100%
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$15,930
Building Details
Building Size
16,000 SF
Year Built
2006
Buildings
2
Construction
metal
Tenancy
Multi
Listing Agency:
Stromer Group, Inc.
(727) 457-5926
Listed By:
Rameena Stromer · License #704679
(727) 457-5926
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 7:29AM
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 Stromer Group, Inc.
Investment Insights
Based on property information with market context.
This fully leased warehouse property contains 16,000 square feet across two metal buildings, arranged as four 4,000-square-foot bays. Built in 2006, the industrial improvements serve a diversified tenant roster with service, marine, martial arts, and healthcare users.
The 2.47-acre site in New Port Richey includes asphalt paving, parking, internal circulation areas, and a separately fenced section designated for outdoor storage. These site components support day-to-day industrial operations while providing distinct areas for tenant access and exterior storage.
The 2.47-acre site in New Port Richey includes asphalt paving, parking, internal circulation areas, and a separately fenced section designated for outdoor storage. These site components support day-to-day industrial operations while providing distinct areas for tenant access and exterior storage.
Key Highlights
- 16,000 square feet of warehouse space across two metal buildings
- Four 4,000‑square‑foot bays in a multi‑tenant configuration
- Fully leased to tenants spanning service, marine, martial arts, and healthcare uses
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
$155,890
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
5.77%
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%
$3,117,800
$3.1M
Cap Rate 7%
$2,227,000
$2.2M
Cap Rate 9%
$1,732,111
$1.7M
Market Conditions
NOI Build-Up for 16,000 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
$200.0K $12.50/SF
− Vacancy
−$16.6K −$1.04/SF
EGI
$183.4K $11.46/SF
− OpEx
−$27.5K −$1.72/SF
NOI
$155.9K $9.74/SF
Area
Pasco County, FL
Vacancy
8.30%
Lease Rate
$12.50 /SF/Yr
Expense Ratio
15.00%
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%
$3,117,800
Cap Rate 7%
$2,227,000
Cap Rate 9%
$1,732,111
Alternative Uses
Best Use
Warehouse
$2.23M
$1.95M – $2.60M
NOI $155,890 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.64M
$3.19M – $4.25M
NOI $255,130 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Well-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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully leased industrial asset with four bays across two metal buildings and a fenced area for outdoor storage.
Where is this warehouse located?
The property is located at 11918 MANCINI New Port Richey, FL.
What is the asking price?
The asking price for this property is $2,699,999.
What are key features of this property?
This property features: 16,000 square feet of warehouse space across two metal buildings; Four 4,000‑square‑foot bays in a multi‑tenant configuration; Fully leased to tenants spanning service, marine, martial arts, and healthcare uses
