Five-Unit Office
New
For Sale
$725,000
5441 5443 JAMES, New Port Richey, FL 34652
Corner commercial property with individually conditioned suites, dedicated parking, and security on windows and doors.
Property Size4,032 SF
Days on Market3
Property Features for 5441 5443 JAMES
General Information
Standard status
Active
Size
4,032 SF
Total Parking Spaces
16
Property subtype
Commercial
Additional Details
Road Access
Yes
Office Units
5
Taxes and HOA fees
Annual Taxes
$4,053
Amenities
Individual Heat and Air
Security on all windows and doors
Building Details
Building Size
4,032 SF
Year Built
1986
Units
5
Listed By:
Rita Hill
(727) 849-2411
Source:
Elliman
Added: Sep 1
Last Checked: Sep 2 at 8:20PM
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 Rita Hill
Investment Insights
Based on property information with market context.
This office property contains five units, each equipped with individual heat and air. The building was constructed in 1986 and includes security measures on all windows and doors, supporting a straightforward multi-suite office configuration.
Positioned at the corner of Gulf and James, the property includes a 16-space parking lot. Walk Score is 30, characterized as car-dependent, while Bike Score is 56, characterized as bikeable. The address is 5441–5443 James in New Port Richey, Florida.
Positioned at the corner of Gulf and James, the property includes a 16-space parking lot. Walk Score is 30, characterized as car-dependent, while Bike Score is 56, characterized as bikeable. The address is 5441–5443 James in New Port Richey, Florida.
Key Highlights
- Five office units with individual heat and air
- 16‑space parking lot
- Security on all windows and doors
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
$27,209
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
3.75%
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%
$544,180
$544.2K
Cap Rate 7%
$388,700
$388.7K
Cap Rate 9%
$302,322
$302.3K
Market Conditions
NOI Build-Up for 4,032 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
$44.5K $11.04/SF
− Vacancy
−$8.2K −$2.04/SF
EGI
$36.3K $9.00/SF
− OpEx
−$9.1K −$2.25/SF
NOI
$27.2K $6.75/SF
Area
Pasco County, FL
Vacancy
18.50%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
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%
$544,180
Cap Rate 7%
$388,700
Cap Rate 9%
$302,322
Alternative Uses
Best Use
Office B
$388.7K
$340.1K – $453.5K
NOI $27,209 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$918.5K
$803.7K – $1.07M
NOI $64,293 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,257
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Office building - Corner commercial property with individually conditioned suites, dedicated parking, and security on windows and doors.
Where is this office building located?
The property is located at 5441 5443 JAMES New Port Richey, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Five office units with individual heat and air; 16‑space parking lot; Security on all windows and doors
