For Sale
Contact for pricing
Pending
2227 Welbilt Blvd, New Port Richey, FL 34655
Manufacturing properties
Property Size42,000 SF
Days on Market194
Property Features for 2227 Welbilt Blvd
General Information
Standard status
Pending
Size
42,000 SF
Property subtype
Industrial, Office
Zoning
MPUD
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1999
Year Renovated
2018
Stories
1
Listing Agency:
Commercial Asset Partners
(727) 376-4900
Listed By:
Heidi Tuttle-Beisner · License #FL BK608537
Source:
Crexi
Added: Jan 30
Changed: Aug 8
Last Checked: Jul 24 at 11:59AM
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 Commercial Asset Partners
Investment Insights
Based on property information with market context.
Key Highlights
- Ideal for life sciences and food production with existing walk‑in freezer/refrigerator, floor drains, and ventilation hoods.
- Significant utility infrastructure including diesel generator and UPS backup, suitable for light manufacturing and regulated operations.
- High‑quality office environment features a grand reception, perimeter offices with natural light, conference/huddle rooms, and an executive conference room with projector/screen.
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
$336,998
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
5.18%
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%
$6,739,960
$6.7M
Cap Rate 7%
$4,814,257
$4.8M
Cap Rate 9%
$3,744,422
$3.7M
Market Conditions
NOI Build-Up for 42,000 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
$525.0K $12.50/SF
− Vacancy
−$43.6K −$1.04/SF
EGI
$481.4K $11.46/SF
− OpEx
−$144.4K −$3.44/SF
NOI
$337.0K $8.02/SF
Area
Pasco County, FL
Vacancy
8.30%
Lease Rate
$12.50 /SF/Yr
Expense Ratio
30.00%
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%
$6,739,960
Cap Rate 7%
$4,814,257
Cap Rate 9%
$3,744,422
Alternative Uses
Best Use
Industrial
$4.81M
$4.21M – $5.62M
NOI $336,998 @ 7.0% cap · market cap 5.18%
Second Best
Office B
$4.05M
$3.54M – $4.72M
NOI $283,424 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$9.57M
$8.37M – $11.16M
NOI $669,715 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
Explore this area
Business Placement
Demographics for 34655, FL
45,628
Population
20,444
Households
2.2
Avg Household Size
47
Median Age
37%
College-Educated
95%
High-School Grad
27.0 sq mi
ZIP Area
1,690
Density / Sq Mi
$85,107
Median Household Income
$47,453
Median Earnings
$1,696
Median Rent
$353,000
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.
Frequently Asked Questions
Where is this manufacturing property located?
The property is located at 2227 Welbilt Blvd New Port Richey, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Ideal for life sciences and food production with existing walk‑in freezer/refrigerator, floor drains, and ventilation hoods.; Significant utility infrastructure including diesel generator and UPS backup, suitable for light manufacturing and regulated operations.; High‑quality office environment features a grand reception, perimeter offices with natural light, conference/huddle rooms, and an executive conference room with projector/screen.
