C3 Warehouse with Roll-Up
For Sale
$749,000
6028 PINE HILL Road, Port Richey, FL 34668
Commercial Sale, PORT RICHEY, FL
Property Size5,512 SF
Lot Size0.31 Acres
Price / SF$135.89
Days on Market243
Property Features for 6028 PINE HILL Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C3
Directions
Driving north on US 19, make a right on Ridge Rd, then make your first right on Leo Kidd Ave, continue south on Leo Kidd Ave, then make a left on Pine Hill Rd, the property will be on the right hand side.
Subdivision
34668 - Port Richey
Standard status
Active
APN
16-25-33-0000-00300-0070
Size
5,512 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COM AT NW CORNER OF SECTION TH S00DG 19'00"E 25 FT ALG WEST BDY TH S89DG 59'07"E 340.99 FT ALG SLY R/W OF PINE HILL RD TO POB TH ALG R/W S89DG 59'07"E 100 FT TH S00DG 17'48"E 134 FT TH N89DG 59'07"W100 FT TH N00DG 17'48"W 134 FTTO POB TOGETHER WITH D RAINAGE ESMT AS DESCRIBED OR 4335 PG 522
Tax Annual Amount
4917
Legal Description
COM AT NW CORNER OF SECTION TH S00DG 19'00"E 25 FT ALG WEST BDY TH S89DG 59'07"E 340.99 FT ALG SLY R/W OF PINE HILL RD TO POB TH ALG R/W S89DG 59'07"E 100 FT TH S00DG 17'48"E 134 FT TH N89DG 59'07"W100 FT TH N00DG 17'48"W 134 FTTO POB TOGETHER WITH D RAINAGE ESMT AS DESCRIBED OR 4335 PG 522
Utilities
Cooling system
Central Air
Water source
Well
Building Details
Year built
1988
Floors in Building
2
Flooring type
Concrete
Building materials
Block, Concrete
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Christopher Worthington · License #3625022
(727) 741-8897
Added: Dec 25, 2025
Changed: Aug 24
Last Checked: Aug 25 at 9:06AM
MLS# TB8449643
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 5,512-square-foot warehouse was built in 1988 on a concrete slab and is zoned C3. The building includes five ground-level roll-up bay doors measuring 12 feet by 16 feet, heated space, male and female restrooms, and a second floor with two offices, a conference room, and a storage room. Cooling is provided by a new 2025 AC system with mini splits. Additional improvements include a 2020 water heater, concrete flooring, block-and-concrete construction, a shingle roof, and a freshwater well.
The property occupies 0.31 acres along Pine Hill Road in Port Richey, with retail frontage and 120 feet of fencing extending from the front to the rear. Parking is provided for both customers and employees.
The property occupies 0.31 acres along Pine Hill Road in Port Richey, with retail frontage and 120 feet of fencing extending from the front to the rear. Parking is provided for both customers and employees.
Key Highlights
- 5,512 SF heated warehouse built in 1988 on a concrete slab
- Five 12‑foot by 16‑foot ground‑level roll‑up bay doors
- Second floor includes two offices, a conference room, and storage room
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
7.17%
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 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.46M
NOI $87,892 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,100
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Heated commercial facility with offices, customer-facing frontage, and separate parking for customers and employees.
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 $749,000.
What are key features of this property?
This property features: 5,512 SF heated warehouse built in 1988 on a concrete slab; Five 12‑foot by 16‑foot ground‑level roll‑up bay doors; Second floor includes two offices, a conference room, and storage room
