Multi-Tenant Flex Industrial
For Sale
Contact for pricing
11922 Mancini Way, New Port Richey, FL 34654
Fully leased flex property arranged for multiple commercial occupants across two metal buildings.
Property Size16,000 SF
Lot Size2.47 Acres
Price / SF$124.99
Days on Market62
Property Features for 11922 Mancini Way
General Information
Standard status
Active
Size
16,000 SF
Class
C
Lot size
2.47 Acres
Property subtype
Industrial
Zoning
00C2
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$89,142
Additional Details
Gross Income
$135,709
Building Details
Year Built
2004
Buildings
2
Stories
1
Units
4
Tenancy
Multi
Construction
metal
Listing Agency:
Stromer Group Inc
Listed By:
Rameena Stromer · License #FL 704679
(727) 457-5926
Source:
Crexi
Added: Aug 17
Changed: Oct 16
Last Checked: Oct 16 at 7:11AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Mancini Trade Center is a fully leased flex industrial property comprising 16,000 square feet on 2.47 acres. The improvements include two metal buildings divided into four 4,000-square-foot bays, creating a multi-tenant configuration with established commercial occupancy. Tenant uses span service, marine, martial arts, and healthcare operations. The property was built in 2004 and carries 00C2 zoning.
Lease expirations are staggered from 2026 through 2029, with contractual annual rent increases ranging from 3% to 7%. The bay layout provides a defined framework for continued multi-tenant occupancy as individual lease terms mature. Located at 11922 Mancini Way in New Port Richey, Florida, the property combines industrial building improvements with a flexible bay-based configuration.
Lease expirations are staggered from 2026 through 2029, with contractual annual rent increases ranging from 3% to 7%. The bay layout provides a defined framework for continued multi-tenant occupancy as individual lease terms mature. Located at 11922 Mancini Way in New Port Richey, Florida, the property combines industrial building improvements with a flexible bay-based configuration.
Key Highlights
- 16,000‑square‑foot flex industrial property on 2.47 acres
- Four 4,000‑square‑foot bays across two metal buildings
- Fully leased multi‑tenant occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$172,224
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,444,480
$3.4M
Cap Rate 7%
$2,460,343
$2.5M
Cap Rate 9%
$1,913,600
$1.9M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$288.0K $18.00/SF
− Vacancy
−$23.0K −$1.44/SF
EGI
$265.0K $16.56/SF
− OpEx
−$92.7K −$5.80/SF
NOI
$172.2K $10.76/SF
Area
Pasco County, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,444,480
Cap Rate 7%
$2,460,343
Cap Rate 9%
$1,913,600
Alternative Uses
Best Use
Flex RnD
$2.46M
$2.15M – $2.87M
NOI $172,224 @ 7.0% cap · market cap 8.61%
Second Best
Warehouse
$2.23M
$1.95M – $2.60M
NOI $155,890 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$3.64M
$3.19M – $4.25M
NOI $255,130 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
258
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 Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Fully leased flex property arranged for multiple commercial occupants across two metal buildings.
Where is this flex space located?
The property is located at 11922 Mancini Way New Port Richey, FL.
What is the asking price?
The asking price for this property is $1,999,900.
What are key features of this property?
This property features: 16,000‑square‑foot flex industrial property on 2.47 acres; Four 4,000‑square‑foot bays across two metal buildings; Fully leased multi‑tenant occupancy
