Single-Story Office
For Sale
$595,000
5838 MAIN Street, New Port Richey, FL 34652
Commercial Sale, NEW PORT RICHEY, FL
Property Size1,900 SF
Lot Size0.08 Acres
Price / SF$313.16
Days on Market158
Property Features for 5838 MAIN Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
O
Subdivision
NEW PORT RICHEY CITY
Lot features
Sidewalk, Street Lights, Paved
Directions
From US-19 go east on Main Street to property on right.
Standard status
Active
APN
16-26-05-0030-07900-0090
Size
1,900 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITY OF NEW PORT RICHEY PB 4 PG 49 LOT 9 & WEST 10 FT OF LOT 8 BLOCK 79 OR 9739 PG 991
Tax Annual Amount
5772
Legal Description
CITY OF NEW PORT RICHEY PB 4 PG 49 LOT 9 & WEST 10 FT OF LOT 8 BLOCK 79 OR 9739 PG 991
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Electric (Heating), Central
Cooling system
Zoned, Central Air
Water source
Public
Building Details
Year built
1969
Floors in Building
1
Number of units
1
Building materials
Block
Roof type
Membrane
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Jim Knetsch · License #3015997
(813) 629-0341
Added: Apr 13
Changed: Sep 12
Last Checked: Sep 17 at 12:06PM
MLS# TB8497632
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.
Investment Insights
Based on property information with market context.
This 1,900-square-foot, single-story office building at 5838 Main Street features concrete block construction, three restrooms, and a multi-room interior. The property most recently operated as a dental office and is configured for renovation. A new roof and two rooftop HVAC systems were installed in 2023. Public water, public sewer, central air, central electric heating, and membrane roofing are in place. The property is zoned O.
The building is situated in Historic Downtown New Port Richey with frontage along Main Street, adjacent to a new public parking lot and additional street parking. Restaurants, shops, parks, and other businesses are located throughout the surrounding downtown district. The 0.08-acre site offers a compact office property with an established downtown setting and existing interior division suitable for reworking into a customized professional workspace.
The building is situated in Historic Downtown New Port Richey with frontage along Main Street, adjacent to a new public parking lot and additional street parking. Restaurants, shops, parks, and other businesses are located throughout the surrounding downtown district. The 0.08-acre site offers a compact office property with an established downtown setting and existing interior division suitable for reworking into a customized professional workspace.
Key Highlights
- 1,900 SF single‑story office building on a 0.08‑acre site
- Adjacent to a new public parking lot with additional street parking along Main Street
- New roof and 2 rooftop HVAC systems 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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,448
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Concrete block construction with three restrooms and a multi-room interior ready for renovation.
Where is this office building located?
The property is located at 5838 MAIN Street 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 on a 0.08‑acre site; Adjacent to a new public parking lot with additional street parking along Main Street; New roof and 2 rooftop HVAC systems installed in 2023
