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    Waterfront Buildable Lot with Dock Title is generated by Realmo AI

    5627 JOBETH DRIVE, New Port Richey, FL 34652

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    For Sale
    $369,000

    Land - NEW PORT RICHEY, FL

    Lot size:
    0.15 Acres
    Added:
    Oct 8, 2024
    Days on Market:
    608
    Last Refresh:
    Jun 7 at 1:06 am

    Property Features for 5627 JOBETH DRIVE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R4
    Pets allowed
    Yes
    Exterior features
    Dock
    Dock
    1
    Standard status
    Active
    APN
    07-26-16-0060-00000-0390
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    3634
    Expense value
    80
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Water front features
    Gulf/Ocean, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Anita McCracken
    Anita McCracken

    Listing agent Anita McCracken License #3358944

    Listing office F I GREY & SON RESIDENTIAL 5636 Grand Blvd, New Port Richey, FL

    Listing date Oct 8, 2024

    MLS# W7869010 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Waterfront lot with Gulf/Ocean frontage and unobstructed waterfront views
    • 52 ft of water frontage with deep water access and quick boat ride to Anclote Island
    • Floating dock in place; add a boat lift tailored to your vessel
    • Recently upgraded seawall for added durability
    • Sea Colony at Gulf Landings community amenities: renovated clubhouse, 2 private resident boat ramps, tennis courts/pickleball, heated pool and hot tub
    • HOA permits rentals with a minimum 30‑day term, three times per year

    Overview

    This waterfront land parcel is offered for sale with a floating dock already in place and a recently upgraded seawall. The property includes 52 feet of water frontage and deep water access, designed to support private waterfront use such as boating and a backyard pool or outdoor living. The seller also reports no rear neighbors, aimed at preserving privacy from the rear of the lot.

    The lot is located in the Sea Colony at Gulf Landings community. Public remarks note access to two private resident boat ramps, including one conveniently located on Jobeth, and a renovated clubhouse that can be reserved for private rentals. Community amenities also include tennis courts with pickleball, plus a heated swimming pool and hot tub. Residents receive exclusive access to a private beach club with covered pavilions, restrooms, and parking, and the HOA is described as golf cart-friendly.

    For planning purposes, the property is listed with zoning of R4 and an HOA rental policy allowing rentals with a minimum of 30 days, three times a year. Building requirements noted in the remarks include a minimum of 1,200 SF for 2-bedroom homes or 1,400 SF for 3-bedroom homes. The owner states soil report availability and offers financing availability and an open-offer approach for qualified buyers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

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

    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
    -82.73634
    Latitude
    28.24091

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    FAQs

    What type of property is this?
    Waterfront Land - Build a waterfront home on a deep-water lot with a floating dock and upgraded seawall in a deeded community.
    Where is this waterfront land located?
    The property is located at 5627 JOBETH DRIVE New Port Richey, FL.
    What is the asking price?
    The asking price for this property is $369,000.
    What are key features of this property?
    This property features: Waterfront lot with Gulf/Ocean frontage and unobstructed waterfront views; 52 ft of water frontage with deep water access and quick boat ride to Anclote Island; Floating dock in place; add a boat lift tailored to your vessel
    (727) 776-4638
    We can help!
    Listing Contact
    Anita McCracken
    Anita McCracken
    Real Estate License ID: 3358944
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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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