Single-Story Office
For Sale
$595,000
5838 MAIN ST, New Port Richey, FL 34652
Flexible professional layout with three restrooms and renovation potential for medical, dental, wellness, or general office use.
Property Size1,900 SF
Price / SF$313.16
Days on Market125
Property Features for 5838 MAIN ST
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Office
Property Condition
Severity
Minor
Evidence
ready for renovation
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,772
Building Details
Building Size
1,900 SF
Year Built
1969
Buildings
1
Stories
1
Construction
concrete block
Listing Agency:
LPT REALTY, LLC
(813) 629-0341
Listed By:
Jim Knetsch · License #3015997
Source:
Kingofrealestate
Added: Apr 14
Changed: Aug 14
Last Checked: Aug 15 at 12:31PM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This 1,900 SF, single-story office property was built in 1969 and includes a multi-room interior with three restrooms. The existing configuration most recently served as a dental office and can be renovated for medical, dental, wellness, legal, financial, salon suite, executive office, or general professional uses. The layout may also accommodate multiple suites or office condos, subject to applicable approvals. Concrete block construction supports the building’s established commercial format.
Positioned at 5838 Main St in downtown New Port Richey, the property has direct Main Street presence and is adjacent to a new public parking lot, with additional street parking along Main Street. Restaurants, shops, parks, and other businesses are located throughout the surrounding downtown district.
Capital improvements include a new roof installed in 2023 and 2 brand new rooftop HVAC systems installed in 2023. The interior is positioned for a customized renovation rather than immediate occupancy.
Positioned at 5838 Main St in downtown New Port Richey, the property has direct Main Street presence and is adjacent to a new public parking lot, with additional street parking along Main Street. Restaurants, shops, parks, and other businesses are located throughout the surrounding downtown district.
Capital improvements include a new roof installed in 2023 and 2 brand new rooftop HVAC systems installed in 2023. The interior is positioned for a customized renovation rather than immediate occupancy.
Key Highlights
- 1,900 SF single‑story office building
- Three restrooms and multi‑room interior configuration
- New roof installed in 2023
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
$17,524
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
2.95%
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%
$350,480
$350.5K
Cap Rate 7%
$250,343
$250.3K
Cap Rate 9%
$194,711
$194.7K
Market Conditions
NOI Build-Up for 1,900 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
$31.9K $16.80/SF
− Vacancy
−$2.7K −$1.43/SF
EGI
$29.2K $15.37/SF
− OpEx
−$11.7K −$6.15/SF
NOI
$17.5K $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 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%
$350,480
Cap Rate 7%
$250,343
Cap Rate 9%
$194,711
Alternative Uses
Best Use
Healthcare Medical
$250.3K
$219.1K – $292.1K
NOI $17,524 @ 7.0% cap · market cap 2.95%
Second Best
Office B
$183.2K
$160.3K – $213.7K
NOI $12,822 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$432.8K
$378.7K – $505.0K
NOI $30,297 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,068
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible professional layout with three restrooms and renovation potential for medical, dental, wellness, or general office use.
Where is this office building located?
The property is located at 5838 MAIN ST New Port Richey, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1,900 SF single‑story office building; Three restrooms and multi‑room interior configuration; New roof installed in 2023
