Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5305 Grand Blvd New Port Richey, FL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Long-term leased medical office in New Port Richey, Florida.

    Type:OFFICE
    Property size:
    4,324 SF
    Lot size:
    0.62 Acres
    Price / SF:
    $309/SF
    Added:
    Oct 8, 2024
    Days on Market:
    570
    Last Refresh:
    Apr 5 at 10:33 pm

    Property Features for 5305 Grand Blvd

    General Information

    Standard status
    Active
    Size
    4,324 SF
    Lot size
    0.62 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Adam English
    Adam English

    Listing agent Adam English License #01993313

    Listing office Stream Capital Partners

    Listing date Oct 8, 2024

    Source Moodyscre

    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

    Overview

    New Port Richey Medical Office

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Alicia Havens Physician John Williams Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.723
    Latitude
    28.2359

    Nearby Similar for Sale

    • $595,000
      1,900 SF

      Downtown New Port Richey Office

      1,900 SF professional office building in booming downtown area.
      5838 MAIN STREET, NEW PORT RICHEY, FL 34652
      View Details
    • $304,900
      1,205 SF

      Turnkey Duplex in New Port Richey

      Fully occupied, renovated duplex with dual income stream potential.
      5045 GREEN KEY ROAD, NEW PORT RICHEY, FL 34652
      View Details
    • $189,000
      2,614 SF

      Turnkey Restaurant in New Port Richey

      Fully equipped 82-seat restaurant in downtown New Port Richey, Florida.
      5414 MAIN STREET, NEW PORT RICHEY, FL 34652
      View Details
    • $1,898,000
      8,476 SF

      Medical/Mixed-Use Commercial Building For Sale

      Rare opportunity: mixed-use commercial building with multiple offices and ample parking.
      8726 OLD COUNTY ROAD 54, NEW PORT RICHEY, FL 34653
      View Details
    • $399,000
      2,880 SF

      Freestanding Commercial Property in New Port Richey

      Freestanding 2,880 SF commercial building on 0.32-acre lot.
      6153 MASSACHUSETTS Ave, New Port Richey, FL 34653
      View Details
    • $875,000

      Trinity Medical Office Space For Sale

      Class A medical office in Trinity Professional Center.
      1812 HEALTH CARE Dr, New Port Richey, FL 34655
      View Details
    • $595,000
      1,900 SF

      Downtown Office Building For Sale

      1,900 SF professional office building in booming downtown.
      5838 MAIN St, New Port Richey, FL 34652
      View Details
    • $479,999
      2,753 SF

      Fully Leased Multiplex Investment

      Turnkey multiplex in New Port Richey with income potential.
      5100 SOUTH ROAD, NEW PORT RICHEY, FL 34652
      View Details
    • $180,000
      1,456 SF

      Office Building Near Hospital

      Office building or investment property near hospital in New Port Richey.
      6102 INDIANA AVENUE, NEW PORT RICHEY, FL 34653
      View Details
    • $180,000
      1,456 SF

      Office Building Near Hospital

      Office building or investment property near the hospital.
      6102 INDIANA AVENUE, NEW PORT RICHEY, FL 34653
      View Details
    • $450,000
      3,024 SF

      Mixed-Use Property in New Port Richey

      Mixed-use property with high visibility in central New Port Richey.
      5147 MARINE PARKWAY, NEW PORT RICHEY, FL 34652
      View Details
    • $399,000
      2,880 SF

      Freestanding Commercial Property For Sale

      Freestanding commercial building with liquor license on a 0.32-acre lot.
      6153 MASSACHUSETTS AVENUE, NEW PORT RICHEY, FL 34653
      View Details

    FAQs

    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.
    (256) 694-9803 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Adam English
    Adam English
    Real Estate License ID: 01993313
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!