34480 Cortez Blvd, Ridge Manor, FL 33523

Building Details

Buildings 1 More

Listing Agency: Bingham Realty Inc

Listed By: Will Bingham, CCIM · License FL #3054155 Show Phone

Source: Crexi

Added: Nov 2 Changed: Nov 8 Last Checked: Nov 8 at 5:37PM

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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 Bingham Realty Inc

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Investment Insights

Based on property information with market context.

This storefront property in Ridge Manor includes a county-reported base building area of 4,769 square feet on approximately 1.50 acres. Paved parking occupies the front of the site, while a wooded section extends behind the building. The additional land may be evaluated for improvements, subject to zoning and required approvals.

The property fronts SR 50 (Cortez Boulevard), near the US 301 intersection. Dollar General adjoins the site to the east, and Circle K is across the intersection. The adjacent property at 34498 Cortez Boulevard is also offered separately; together, the two sites comprise approximately 2.30 acres and 11,297 square feet of enclosed/base building area.

Key Highlights

• 4,769 SF county‑reported base building area
• Approximately 1.50 acres with a wooded rear section
• Paved parking at the front of the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,784

Cap Rate

7.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,135,680 $1.1M

Cap Rate 7%

$811,200 $811.2K

Cap Rate 9%

$630,933 $630.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,769 SF

Gross rent

$85.8K $18.00/SF

− Vacancy

−$4.7K −$0.99/SF

EGI

$81.1K $17.01/SF

− OpEx

−$24.3K −$5.10/SF

NOI

$56.8K $11.91/SF

Area

Pasco County, FL

Vacancy

5.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,135,680

Cap Rate 7%

$811,200

Cap Rate 9%

$630,933

Alternative Uses

Best Use

Retail

$811.2K

$709.8K – $946.4K (±1% cap)

NOI $56,784 @ 7.0% cap · market cap 7.10%

Second Best

Mixed Use

$809.4K

$708.2K – $944.3K (±1% cap)

NOI $56,656 @ 7.0% cap · market cap 7.08%

Theoretical Best

Office A

$1.49M

$1.30M – $1.74M (±1% cap)

NOI $104,112 @ 7.0% cap · market cap 13.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Parking Lot & Garage HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

131

Businesses Nearby

232k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 55% Shops & Services 34% Groceries 9% Hotels & Casinos 2%

RaceTrac Shops & Services

72,031 visits/mo 0.4 miles

McDonald's Dining

37,836 visits/mo 0.3 miles

Cracker Barrel Old Country Store Dining

24,106 visits/mo 0.5 miles

Winn-Dixie Groceries

20,644 visits/mo 0.1 miles

Zaxby's Chicken Fingers & Buffalo Wings Dining

15,240 visits/mo 0.3 miles

Demographics for 33523, FL

18,540

Population

8,132

Households

2.3

Avg Household Size

42

Median Age

21%

College-Educated

83%

High-School Grad

105.4 sq mi

ZIP Area

176

Density / Sq Mi

$60,897

Median Household Income

$35,283

Median Earnings

$1,020

Median Rent

$231,700

Median Home Value

Market

Average Price Trend$/SF for Storefront properties in Pasco County, FL

$574 Jul

$317 Aug

$332 Sep

$357 Oct

Properties on Market for Storefront properties in Pasco County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Storefront property - The existing commercial building sits on a paved, highway-facing site with additional land behind it.

Where is this storefront property located?

The property is located at 34480 Cortez Blvd Ridge Manor, FL.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 4,769 SF county‑reported base building area; Approximately 1.50 acres with a wooded rear section; Paved parking at the front of the property