Professional Office Building Near
For Sale
$380,000
5438 TROUBLE CREEK Rd, New Port Richey, FL 34652
Professional office building in high-demand New Port Richey submarket.
Property Size1,488 SF
Price / SF$255.38
Days on Market104
Property Features for 5438 TROUBLE CREEK Rd
General Information
Standard status
Active
Size
1,488 SF
Property subtype
Commercial
Building Details
Year Built
1968
Listing Agency:
BROKERS INTERNATIONAL RE
(727) 637-6186
Listed By:
Lorena Gomez Lineros
(727) 637-6186
Source:
Elliman
Added: May 18
Changed: Jul 10
Last Checked: Aug 29 at 11:09AM
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 BROKERS INTERNATIONAL RE
Investment Insights
Based on property information with market context.
This is a ±1,488 square foot professional office building featuring three private rooms, a reception area, a break room with a kitchenette, a storage/file room, and two restrooms. The single-story construction includes central air and on-site parking. Flexible zoning makes the property suitable for medical, legal, or professional use. The surrounding 34652 trade area has a population of 26,760 with a median household income of $58,836. Traffic counts along nearby US Highway 19 exceed 68,000 vehicles per day, supporting excellent exposure for office and service-oriented uses. Located in a high-demand New Port Richey submarket with strong visibility near US-19, the flexible layout supports a wide range of professional tenants. Durable construction and a manageable lot size help control operating costs, while average condition provides value-add upside through renovations or repositioning. The bike score is 46, indicating it is somewhat bikeable, and the walk score is 54, indicating it is somewhat walkable.
Key Highlights
- Turnkey office asset in high‑demand New Port Richey submarket with strong visibility near US‑19.
- Flexible layout supports a wide range of professional tenants, driving stable occupancy.
- ±1,488 SF professional office building featuring three private rooms, reception area, break room with kitchenette, storage/file room, and two restrooms.
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
$13,724
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
3.61%
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%
$274,480
$274.5K
Cap Rate 7%
$196,057
$196.1K
Cap Rate 9%
$152,489
$152.5K
Market Conditions
NOI Build-Up for 1,488 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
$25.0K $16.80/SF
− Vacancy
−$2.1K −$1.43/SF
EGI
$22.9K $15.37/SF
− OpEx
−$9.1K −$6.15/SF
NOI
$13.7K $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%
$274,480
Cap Rate 7%
$196,057
Cap Rate 9%
$152,489
Alternative Uses
Best Use
Healthcare Medical
$196.1K
$171.6K – $228.7K
NOI $13,724 @ 7.0% cap · market cap 3.61%
Second Best
Office B
$143.4K
$125.5K – $167.4K
NOI $10,041 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$339.0K
$296.6K – $395.5K
NOI $23,727 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,138
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34652, FL
26,697
Population
14,700
Households
1.8
Avg Household Size
51
Median Age
20%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
3,104
Density / Sq Mi
$52,396
Median Household Income
$36,819
Median Earnings
$1,189
Median Rent
$198,400
Median Home Value
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
- Johnson Park Veterinarian Care — 4150 us-19, new port richey, fl 34652
- Pasco Animal Hospital — 4605 U.S. Hwy 19, New Port Richey, FL 34652
- Carla Channell DVM — 6041 Trouble Creek Rd, New Port Richey, FL 34653
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional office building in high-demand New Port Richey submarket.
Where is this medical office space located?
The property is located at 5438 TROUBLE CREEK Rd New Port Richey, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Turnkey office asset in high‑demand New Port Richey submarket with strong visibility near US‑19.; Flexible layout supports a wide range of professional tenants, driving stable occupancy.; ±1,488 SF professional office building featuring three private rooms, reception area, break room with kitchenette, storage/file room, and two restrooms.
