New Port Richey Office Building

5427 Water St, New Port Richey, FL 34652

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For Sale

$389,000

2,920 SF professional office building in New Port Richey, FL.

Property size:

2,920 SF

Lot size:

0.11 Acres

Price / SF:

$133/SF

HighLights

Located in a market surrounded by dense residential and complementary medical uses, ideal for a medical office.
2,920 SF professional office building with a flexible, open floor plan.
Large reception and waiting area that can accommodate 12‑14 guests.
Includes 4 private offices/exam rooms, 2 restrooms, and multiple bullpen areas.
Formerly used as a medical lab, suitable for medical or other professional uses.
Easy access to US‑19, Suncoast Parkway, and Veterans Express.

We can help!

Listing Contact

Michael Braccia, PA

For Sale

$389,000

2,920 SF professional office building in New Port Richey, FL.

Property size:

2,920 SF

Lot size:

0.11 Acres

Price / SF:

$133/SF

Added:: Mar 24, 2025
Days on Market:: 446
Last Refresh:: Jan 20 at 11:08 am

Property Features for 5427 Water St

General Information

Standard status: Active
Size: 2,920 SF
Lot size: 0.11 Acres

We can help!

Listing Contact

Michael Braccia, PA

Listing agent Michael Braccia, PA License #3033512

Listing office bay street commercial llc

Listing date Mar 24, 2025

Source Exprealty

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 bay street commercial llc

HighLights

Located in a market surrounded by dense residential and complementary medical uses, ideal for a medical office.
2,920 SF professional office building with a flexible, open floor plan.
Large reception and waiting area that can accommodate 12‑14 guests.
Includes 4 private offices/exam rooms, 2 restrooms, and multiple bullpen areas.
Formerly used as a medical lab, suitable for medical or other professional uses.
Easy access to US‑19, Suncoast Parkway, and Veterans Express.

Overview

This 2,920 SF professional office building is located in New Port Richey on a shared (2 unit) site. The space was formerly used as a medical lab but would work nicely as a medical office, as it is located in a market surrounded by dense residential and complementary medical uses. Upon entering, there is a large reception and waiting area with a waiting room large enough to accommodate 12-14 guests. The adjacent reception office is set up for two stations with an open bullpen area behind it. At the rear of the space, there are 4 private offices / exam rooms, 2 restrooms, a large open area, and another wide open bullpen area. The space is in need of some cosmetic improvement and is ready for a new occupant to put their imagination to use with this flexible open floor plan. The property is located in New Port Richey just east of US-19 with easy access to the Suncoast Parkway and Veterans Express.

Local Financial Insights For Healthcare Medical

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$49.1k	$16.80
− Vacancy	−$4.2k	−$1.43
EGI	$44.9k	$15.37
− OpEx	−$18.0k	−$6.15
NOI	$26.9k	$9.22

2,920 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 40.00%

Alternative Uses

Best Use

Healthcare Medical

$384.7K

$336.7K – $448.9K (±1% cap)

NOI $26,932 @ 7.0% cap · market cap 6.92%

Second Best

Office B

$281.5K

$246.3K – $328.4K (±1% cap)

NOI $19,705 @ 7.0% cap · market cap 5.07%

Theoretical Best

Office A

$665.2K

$582.0K – $776.0K (±1% cap)

NOI $46,561 @ 7.0% cap · market cap 11.97%

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

Property Profile Location Intelligence

Current Use by Public Records

Medical Office Space

Suggested Use

Similar Places Nearby

Vet Wellcare Vaccinations Clinic at Pet Supermarket — 5325 U.S. Hwy 19, Port Richey, FL 34652

Location Insight

Map
Local Demand

City: New Port Richey
County: Pasco
State: Florida
Longitude: -82.7225
Latitude: 28.2379

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What type of property is this?

Medical Office Space - 2,920 SF professional office building in New Port Richey, FL.

Where is this medical office space located?

The property is located at 5427 Water St New Port Richey, FL.

What is the asking price?

The asking price for this property is $389,000.

What are key features of this property?

This property features: Located in a market surrounded by dense residential and complementary medical uses, ideal for a medical office.; 2,920 SF professional office building with a flexible, open floor plan.; Large reception and waiting area that can accommodate 12‑14 guests.