Auto Shop with Rental
For Sale
$849,000
6118 Grand Boulevard, New Port Richey, FL 34652
Corner commercial property combines an operating repair facility with fully occupied ancillary units.
Property Size4,636 SF
Price / SF$183.13
Days on Market24
Property Features for 6118 Grand Boulevard
General Information
Standard status
Active
Size
4,636 SF
Financials
Cap Rate
22%
Business Included
Yes
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Year Built
1938
Tenancy
Multi
Listing Agency:
RE/MAX MARKETING SPECIALISTS
(727) 457-7550
Listed By:
Rebecca Huffsmith · License #520697
Source:
Livewelltampabay
Added: Aug 7
Changed: Aug 29
Last Checked: Aug 29 at 2:57PM
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 RE/MAX MARKETING SPECIALISTS
Investment Insights
Based on property information with market context.
This 4,636-square-foot commercial property, built in 1938, includes an automotive repair operation and three additional rental units. The units are fully occupied on month-to-month tenancies. The property occupies a corner parcel with 350 feet of total road frontage, including 150 feet along Grand Boulevard.
Located within the City of New Port Richey, the site fronts Grand Boulevard, a north-south thoroughfare connecting with Main Street. The property is identified at 6112, 6114, 6118, and 6124 Grand Boulevard. The automotive service business has operated at the location for 53 years, and the surrounding commercial occupancy includes a florist, hairdressers, and a consignment shop.
Located within the City of New Port Richey, the site fronts Grand Boulevard, a north-south thoroughfare connecting with Main Street. The property is identified at 6112, 6114, 6118, and 6124 Grand Boulevard. The automotive service business has operated at the location for 53 years, and the surrounding commercial occupancy includes a florist, hairdressers, and a consignment shop.
Key Highlights
- 4,636 SF commercial property built in 1938
- Automotive repair business with 53 years of operating history
- Corner parcel with 350 feet of road frontage
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
$45,514
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
5.36%
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%
$910,280
$910.3K
Cap Rate 7%
$650,200
$650.2K
Cap Rate 9%
$505,711
$505.7K
Market Conditions
NOI Build-Up for 4,636 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
$69.5K $15.00/SF
− Vacancy
−$4.5K −$0.98/SF
EGI
$65.0K $14.03/SF
− OpEx
−$19.5K −$4.21/SF
NOI
$45.5K $9.82/SF
Area
Pasco County, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$910,280
Cap Rate 7%
$650,200
Cap Rate 9%
$505,711
Alternative Uses
Best Use
Retail
$650.2K
$568.9K – $758.6K
NOI $45,514 @ 7.0% cap · market cap 5.36%
Second Best
Industrial
$531.4K
$465.0K – $620.0K
NOI $37,198 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.06M
$924.1K – $1.23M
NOI $73,924 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,541
Businesses Nearby
18k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 20%
Hotels & Casinos 15%
Beef 'O' Brady's
Dining
8,741 visits/mo
0.3 miles
Thai Bistro
Dining
2,731 visits/mo
0.4 miles
Comfort Inn & Suites
Hotels & Casinos
2,631 visits/mo
0.5 miles
Minuteman Press
Shops & Services
2,614 visits/mo
0.4 miles
Truist
Shops & Services
949 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Star Body & Paint Shop — 5411 Crafts St, NEW PRT RCHY, FL 34652
- Overspray Advisors — 5509 Grand Blvd STE 202, New Port Richey, FL 34652
- Friendly kia — 5413 George St, New Port Richey, FL 34652
- ABC Tire — 5532 U.S. Hwy 19, New Port Richey, FL 34652
- Big Ray's Auto Care — 5541 us-19, port richey, fl 34652
Frequently Asked Questions
What type of property is this?
Auto shop - Corner commercial property combines an operating repair facility with fully occupied ancillary units.
Where is this auto shop located?
The property is located at 6118 Grand Boulevard New Port Richey, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 4,636 SF commercial property built in 1938; Automotive repair business with 53 years of operating history; Corner parcel with 350 feet of road frontage
