Commercial Warehouse on Pine
For Sale
$775,000
6028 PINE HILL ROAD, Port Richey, FL 34668
5,512 sq ft warehouse with retail frontage.
Property Size5,512 SF
Lot Size0.31 Acres
Price / SF$140.60
Days on Market220
Property Features for 6028 PINE HILL ROAD
General Information
Standard status
Active
Size
5,512 SF
Lot size
0.31 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,917
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Concrete Flooring
Mini-Split Unit(s) Cooling
Shingle Roof
Building Details
Year Built
1988
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
CHRISTOPHER WORTHINGTON · License #3625022
Source:
Corcoran
Added: Jan 1
Changed: Aug 8
Last Checked: Aug 8 at 6:04AM
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 CHARLES RUTENBERG REALTY INC
Investment Insights
Based on property information with market context.
This commercial warehouse, constructed in 1988 on a slab foundation, offers 5,512 square feet of heated space. Zoned C3, the property features retail frontage on Pine Hill Road, providing high visibility for customer interaction. Operationally, the warehouse includes five ground-level roll-up bay doors, each measuring 12 feet by 16 feet. The property also contains male and female restrooms. The second floor incorporates two offices, a conference room, and a storage room. A freshwater well is located on the premises. Additional features include a water heater from 2020, new AC to be installed in 2025, mini splits, and 120 feet of fencing extending from the front to the back of the property. Parking spaces are available for both customers and employees.
Key Highlights
- High‑visibility retail frontage on Pine Hill Road (C3 zoning)
- 5,512 sq ft of heated commercial warehouse space
- Five ground‑level 12ft x 16ft roll‑up bay 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
$53,704
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
6.93%
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%
$1,074,080
$1.1M
Cap Rate 7%
$767,200
$767.2K
Cap Rate 9%
$596,711
$596.7K
Market Conditions
NOI Build-Up for 5,512 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
$68.9K $12.50/SF
− Vacancy
−$5.7K −$1.04/SF
EGI
$63.2K $11.46/SF
− OpEx
−$9.5K −$1.72/SF
NOI
$53.7K $9.74/SF
Area
Pasco County, FL
Vacancy
8.30%
Lease Rate
$12.50 /SF/Yr
Expense Ratio
15.00%
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%
$1,074,080
Cap Rate 7%
$767,200
Cap Rate 9%
$596,711
Alternative Uses
Best Use
Warehouse
$767.2K
$671.3K – $895.1K
NOI $53,704 @ 7.0% cap · market cap 6.93%
Second Best
Industrial
$631.8K
$552.8K – $737.1K
NOI $44,227 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.26M
$1.10M – $1.46M
NOI $87,892 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34668, FL
48,781
Population
23,883
Households
2
Avg Household Size
45
Median Age
13%
College-Educated
88%
High-School Grad
15.5 sq mi
ZIP Area
3,147
Density / Sq Mi
$45,760
Median Household Income
$35,610
Median Earnings
$1,278
Median Rent
$168,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 5,512 sq ft warehouse with retail frontage.
Where is this warehouse located?
The property is located at 6028 PINE HILL ROAD Port Richey, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: High‑visibility retail frontage on Pine Hill Road (C3 zoning); 5,512 sq ft of heated commercial warehouse space; Five ground‑level 12ft x 16ft roll‑up bay doors
