New Port Richey Medical
For Sale
Contact for pricing
5305 Grand Blvd, New Port Richey, FL
Long-term leased medical office in New Port Richey, Florida.
Property Size4,324 SF
Lot Size0.62 Acres
Price / SF$309.24
Days on Market668
Property Features for 5305 Grand Blvd
General Information
Standard status
Active
Size
4,324 SF
Lot size
0.62 Acres
Property subtype
OFFICE
Listing Agency:
Stream Capital Partners
(256) 694-9803
Listed By:
Adam English · License #01993313
(256) 694-9803
Source:
Moodyscre
Added: Oct 8, 2024
Changed: Jul 6
Last Checked: Jul 21 at 5:30AM
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 Stream Capital Partners
Investment Insights
Based on property information with market context.
This property, located in New Port Richey, Florida, features a long-term (15-year) absolute triple net lease with 2.50% annual escalations. The tenant, Rowan Eye Center, has been in operation for over 20 years and offers a variety of services to its patients. The property is situated in a location with a population of over 65,000 within a 3-mile radius. The site is positioned along a main thoroughfare, providing access to over 60,000 vehicles per day. A direct residential consumer base of more than 83,000 residents supports the trade area, with an average household income of $60,100 within a 3-mile radius. The property has a size of 4,324 square feet.
Key Highlights
- Long term (15‑year) absolute triple net lease with 2.50% annual escalations.
- Located in New Port Richey, FL (Tampa MSA).
- High traffic location with over 60,000 VPD.
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
$39,881
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
2.98%
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%
$797,620
$797.6K
Cap Rate 7%
$569,729
$569.7K
Cap Rate 9%
$443,122
$443.1K
Market Conditions
NOI Build-Up for 4,324 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
$72.6K $16.80/SF
− Vacancy
−$6.2K −$1.43/SF
EGI
$66.5K $15.37/SF
− OpEx
−$26.6K −$6.15/SF
NOI
$39.9K $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%
$797,620
Cap Rate 7%
$569,729
Cap Rate 9%
$443,122
Alternative Uses
Best Use
Healthcare Medical
$569.7K
$498.5K – $664.7K
NOI $39,881 @ 7.0% cap · market cap 2.98%
Second Best
Office B
$416.8K
$364.7K – $486.3K
NOI $29,179 @ 7.0% cap · market cap 2.18%
Theoretical Best
Office A
$985.0K
$861.9K – $1.15M
NOI $68,949 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Vet Wellcare Vaccinations Clinic at Pet Supermarket — 5325 U.S. Hwy 19, Port Richey, FL 34652
- Carla Channell DVM — 6041 Trouble Creek Rd, New Port Richey, FL 34653
- Pasco Animal Hospital — 4605 U.S. Hwy 19, New Port Richey, FL 34652
Frequently Asked Questions
What type of property is this?
Medical Office Space - Long-term leased medical office in New Port Richey, Florida.
Where is this medical office space located?
The property is located at 5305 Grand Blvd New Port Richey, FL.
What is the asking price?
The asking price for this property is $1,337,158.
What are key features of this property?
This property features: Long term (15‑year) absolute triple net lease with 2.50% annual escalations.; Located in New Port Richey, FL (Tampa MSA).; High traffic location with over 60,000 VPD.
