Medical Office Building with
For Sale
Contact for pricing
5427 Water St, New Port Richey, FL 34652
Professional office building with reception, bullpen areas, multiple private offices/exam rooms, and two restrooms.
Property Size2,920 SF
Price / SF$133.22
Days on Market460
Property Features for 5427 Water St
General Information
Standard status
Active
Size
2,920 SF
Property subtype
OFFICE
Listing Agency:
Bay Street Commercial
(813) 625-2375
Listed By:
Michael Braccia, P.A. · License #SL3033512
(813) 625-2375
Source:
Moodyscre
Added: May 2, 2025
Changed: Jul 25
Last Checked: Jul 25 at 5:24AM
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
Investment Insights
Based on property information with market context.
This 2,920 SF professional office building is located on a shared two-unit site. The layout includes a large reception and waiting area suitable for accommodating 12–14 guests, plus an adjacent reception office configured for two stations with an open bullpen area behind it.
The rear portion offers four private offices/exam rooms, two restrooms, a large open area, and a wide open bullpen area. The space is described as needing some cosmetic improvement and is best suited for a new occupant looking for flexibility within the current open floor plan.
The prior use is noted as a medical lab, and the property is positioned in a market surrounded by dense residential and complementary medical uses.
The rear portion offers four private offices/exam rooms, two restrooms, a large open area, and a wide open bullpen area. The space is described as needing some cosmetic improvement and is best suited for a new occupant looking for flexibility within the current open floor plan.
The prior use is noted as a medical lab, and the property is positioned in a market surrounded by dense residential and complementary medical uses.
Key Highlights
- 2,920 SF New Port Richey professional office building on a shared 2‑unit site
- Reception and waiting area designed to accommodate 12–14 guests
- Layout includes reception office for two stations plus an open bullpen area
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| 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
NOI $26,932 @ 7.0% cap · market cap 6.92%
Second Best
Office B
$281.5K
$246.3K – $328.4K
NOI $19,705 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$665.2K
$582.0K – $776.0K
NOI $46,561 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,258
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
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Similar Off Market Nearby
- Vet Wellcare Vaccinations Clinic at Pet Supermarket — 5325 U.S. Hwy 19, Port Richey, FL 34652
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional office building with reception, bullpen areas, multiple private offices/exam rooms, and two restrooms.
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: 2,920 SF New Port Richey professional office building on a shared 2‑unit site; Reception and waiting area designed to accommodate 12–14 guests; Layout includes reception office for two stations plus an open bullpen area
