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    5433 COTEE RIVER DRIVE New Port Richey, FL 34652

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    Claim this Listing
    Pending
    $350,000

    Land - NEW PORT RICHEY, FL

    Lot size:
    0.24 Acres
    Added:
    Mar 26, 2025
    Days on Market:
    403
    Last Refresh:
    May 2 at 1:06 am

    Property Features for 5433 COTEE RIVER DRIVE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R3
    Pets allowed
    Cats OK, Dogs OK, Yes
    Exterior features
    Level, Paved, Dock
    Dock
    1
    Standard status
    Pending
    APN
    32-25-16-0250-00A00-0260
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3315

    Utilities

    Water front features
    Canal - Brackish, Canal - Saltwater, River Front, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeannie Dunning
    Jeannie Dunning

    Listing agent Jeannie Dunning License #3328127

    Listing office RE/MAX CHAMPIONS 11541 Trinity Blvd, Trinity, FL

    Listing date Mar 26, 2025

    MLS# W7873939 Listing URL

    Copyright © 2026 West Pasco Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Land with Gulf Access

    This quarter-acre waterfront property is cleared and ready for construction. Situated directly on the Cotee River, it offers Gulf access and is located a short channel ride from the open Gulf. The property features 60 feet of waterfront and an extra-deep lot measuring 173 feet. A new lift motor was installed on 6/25. Public utilities are available, and there are no HOA or CDD fees. A soil test has indicated that stilts would be required for building. The lot includes a private dock and lift, complete with electric and water. Several waterfront restaurants are located nearby, including Hooters, Catches, Whiskey Joe's, Whiskey River, Nauti Oar, and Crabshack. Conveniently located close to downtown New Port Richey, the property offers both privacy and accessibility. The impact fees have been paid. The zoning is R3. This vacant lot and dock offer the opportunity for coastal living. Building up will provide Gulf Views.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.724246
    Latitude
    28.267789

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    FAQs

    What type of property is this?
    Waterfront Land - Quarter-acre waterfront property on Cotee River with Gulf access.
    Where is this waterfront land located?
    The property is located at 5433 COTEE RIVER DRIVE New Port Richey, FL.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Direct Gulf access via an extra‑wide, deep channel on the Cotee River.; Impact fees are already paid, resulting in significant savings.; Enjoy 60' of waterfront on an extra deep (173') lot with a private dock and lift (new lift motor 6/25) with electric and water.
    (727) 534-5125
    We can help!
    Listing Contact
    Jeannie Dunning
    Jeannie Dunning
    Real Estate License ID: 3328127
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    5433 COTEE RIVER DRIVE, NEW PORT RICHEY, FL 34652

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