New Port Richey Medical
For Sale
Contact for pricing
5305 Grand Blvd, New Port Richey, FL
Long-term leased medical office in New Port Richey, Florida.
Property Size4,324 SF
Lot Size0.62 Acres
Price / SF$309.24
Days on Market759
Property Features for 5305 Grand Blvd
General Information
Standard status
Active
Size
4,324 SF
Lot size
0.62 Acres
Property subtype
OFFICE
Listing Agency:
Stream Capital Partners
Listed By:
Adam English · License #000096920
(256) 694-9803
Source:
Moodyscre
Added: Oct 8, 2024
Changed: Oct 25
Last Checked: Nov 4 at 1:56PM
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 Stream Capital Partners
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property, located in New Port Richey, Florida, features a long-term (15-year) absolute triple net lease with 2.50% annual escalations. The tenant, Rowan Eye Center, has been in operation for over 20 years and offers a variety of services to its patients. The property is situated in a location with a population of over 65,000 within a 3-mile radius. The site is positioned along a main thoroughfare, providing access to over 60,000 vehicles per day. A direct residential consumer base of more than 83,000 residents supports the trade area, with an average household income of $60,100 within a 3-mile radius. The property has a size of 4,324 square feet.
Key Highlights
- Long term (15‑year) absolute triple net lease with 2.50% annual escalations.
- Located in New Port Richey, FL (Tampa MSA).
- High traffic location with over 60,000 VPD.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,881
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$797,620
$797.6K
Cap Rate 7%
$569,729
$569.7K
Cap Rate 9%
$443,122
$443.1K
Market Conditions
NOI Build-Up for 4,324 SF
Gross rent
$72.6K $16.80/SF
− Vacancy
−$6.2K −$1.43/SF
EGI
$66.5K $15.37/SF
− OpEx
−$26.6K −$6.15/SF
NOI
$39.9K $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 Rate 5%
$797,620
Cap Rate 7%
$569,729
Cap Rate 9%
$443,122
Alternative Uses
Best Use
Healthcare Medical
$569.7K
$498.5K – $664.7K
NOI $39,881 @ 7.0% cap · market cap 2.98%
Second Best
Office B
$416.8K
$364.7K – $486.3K
NOI $29,179 @ 7.0% cap · market cap 2.18%
Theoretical Best
Office A
$985.0K
$861.9K – $1.15M
NOI $68,949 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,349
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- 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
- 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 - Long-term leased medical office in New Port Richey, Florida.
Where is this medical office space located?
The property is located at 5305 Grand Blvd New Port Richey, FL.
What is the asking price?
The asking price for this property is $1,337,158.
What are key features of this property?
This property features: Long term (15‑year) absolute triple net lease with 2.50% annual escalations.; Located in New Port Richey, FL (Tampa MSA).; High traffic location with over 60,000 VPD.
