Medical Office with Multiroom
For Sale
$500,000
5838 MAIN ST, New Port Richey, FL 34652
A single-story professional space has three restrooms and adjacent public parking, with additional street parking on Main Street.
Property Size1,900 SF
Price / SF$263.16
Days on Market188
Property Features for 5838 MAIN ST
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Office
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
Listed By:
Jim Knetsch · License #3015997
(813) 629-0341
Source:
Kingofrealestate
Added: Apr 14
Changed: Oct 16
Last Checked: Oct 16 at 12:59PM
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
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Investment Insights
Based on property information with market context.
This 1,900-square-foot medical office building in downtown New Port Richey has a single-story, multiroom layout and three restrooms. Concrete block construction dates to 1969. The building most recently housed a dental office, and its interior improvements may be removed for a different configuration subject to city or county approval.
Main Street frontage places the property in the downtown district. A public parking lot sits immediately beside the building, with additional street parking along Main Street. The property has a Walk Score of 30 and a Bike Score of 56.
Updates completed in 2023 include a new roof and two rooftop HVAC systems.
Main Street frontage places the property in the downtown district. A public parking lot sits immediately beside the building, with additional street parking along Main Street. The property has a Walk Score of 30 and a Bike Score of 56.
Updates completed in 2023 include a new roof and two rooftop HVAC systems.
Key Highlights
- 1,900 SF building with a single‑story, multiroom layout
- Three restrooms
- Concrete block construction; built in 1969
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,524
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
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
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 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 3.50%
Second Best
Office B
$183.2K
$160.3K – $213.7K
NOI $12,822 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$432.8K
$378.7K – $505.0K
NOI $30,297 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A single-story professional space has three restrooms and adjacent public parking, with additional street parking on Main Street.
Where is this medical office space 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 $500,000.
What are key features of this property?
This property features: 1,900 SF building with a single‑story, multiroom layout; Three restrooms; Concrete block construction; built in 1969
