Renovated Office
New
For Sale
$395,000
6102 INDIANA Avenue, New Port Richey, FL 34653
Commercial Sale, NEW PORT RICHEY, FL
Property Size1,792 SF
Lot Size0.15 Acres
Price / SF$220.42
Days on Market7
Property Features for 6102 INDIANA Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
O
Subdivision
NEW PORT RICHEY CITY
Directions
Indiana Ave. Directly across from Morton Plant Hospital
Standard status
Active
APN
16-26-04-003.0-057.00-011.0
Size
1,792 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITY OF NEW PORT RICHEY PB 4 PG 49 WEST 9 FT OF LOT 11; LOTS 12 & 13 & EAST 7 FT OF LOT 14 BLOCK 57 OR 4379 PG 1894
Tax Annual Amount
318
Legal Description
CITY OF NEW PORT RICHEY PB 4 PG 49 WEST 9 FT OF LOT 11; LOTS 12 & 13 & EAST 7 FT OF LOT 14 BLOCK 57 OR 4379 PG 1894
Utilities
Cooling system
Central Air
Building Details
Year built
1962
Floors in Building
1
Building materials
Block
Listing Agency:
RE/MAX PREMIER GROUP · RE/MAX International
(813) 929-7600
Listed By:
Shelly Sidhu · License #3306017
(813) 995-1599
Added: Aug 16
Changed: Aug 19
Last Checked: Aug 22 at 8:06PM
MLS# TB8540125
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 single-story office building provides 1,792 square feet within a 6,534-square-foot paved-lot setting. Originally constructed in 1962, the concrete-block property was fully renovated in 2026 and is offered vacant as a vanilla shell. Central HVAC is in place, and the layout is ready for an owner-occupant build-out or NNN lease-up. On-site paved parking supports daily use.
The property is located at 6102 Indiana Avenue in New Port Richey, directly across from Morton Plant North Bay Hospital, BayCare’s 222-bed acute-care facility. It is within the New Port Richey Community Redevelopment Area, identified as CRA 2002, and carries O zoning. The combination of hospital-facing proximity, completed renovation, immediate availability, and a commercial office configuration supports professional or medical-related occupancy without adding unsupported assumptions about permitted uses.
The property is located at 6102 Indiana Avenue in New Port Richey, directly across from Morton Plant North Bay Hospital, BayCare’s 222-bed acute-care facility. It is within the New Port Richey Community Redevelopment Area, identified as CRA 2002, and carries O zoning. The combination of hospital-facing proximity, completed renovation, immediate availability, and a commercial office configuration supports professional or medical-related occupancy without adding unsupported assumptions about permitted uses.
Key Highlights
- Across from Morton Plant North Bay Hospital, BayCare’s 222‑bed acute‑care facility
- 1,792 square feet on a 6,534 SF lot
- Fully renovated in 2026 and delivered vacant as a vanilla shell
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
$16,528
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
4.18%
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%
$330,560
$330.6K
Cap Rate 7%
$236,114
$236.1K
Cap Rate 9%
$183,644
$183.6K
Market Conditions
NOI Build-Up for 1,792 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
$30.1K $16.80/SF
− Vacancy
−$2.6K −$1.43/SF
EGI
$27.5K $15.37/SF
− OpEx
−$11.0K −$6.15/SF
NOI
$16.5K $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%
$330,560
Cap Rate 7%
$236,114
Cap Rate 9%
$183,644
Alternative Uses
Best Use
Healthcare Medical
$236.1K
$206.6K – $275.5K
NOI $16,528 @ 7.0% cap · market cap 4.18%
Second Best
Office B
$172.8K
$151.2K – $201.6K
NOI $12,093 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$408.2K
$357.2K – $476.3K
NOI $28,575 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 34653, FL
33,381
Population
17,752
Households
1.9
Avg Household Size
49
Median Age
18%
College-Educated
90%
High-School Grad
10.9 sq mi
ZIP Area
3,062
Density / Sq Mi
$47,660
Median Household Income
$35,327
Median Earnings
$1,222
Median Rent
$180,900
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 - Vacant vanilla-shell property with central HVAC and paved on-site parking, positioned across from a 222-bed hospital campus.
Where is this office building located?
The property is located at 6102 INDIANA Avenue New Port Richey, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Across from Morton Plant North Bay Hospital, BayCare’s 222‑bed acute‑care facility; 1,792 square feet on a 6,534 SF lot; Fully renovated in 2026 and delivered vacant as a vanilla shell
