Freestanding Spa & Wellness
New
For Sale
$374,000
6119 GRAND, New Port Richey, FL 34652
Configured with salon stations, private suites, and open work areas for personal-service operations.
Property Size1,240 SF
Days on Market3
Property Features for 6119 GRAND
General Information
Standard status
Active
Size
1,240 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,462
Building Details
Building Size
1,240 SF
Year Built
1932
Buildings
1
Listing Agency:
BHHS - Florida Properties Group | Trinity
Listed By:
Alex Hamilton · License #3533355
(727) 514-2414
Source:
Elliman
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 15 at 7:40AM
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 BHHS - Florida Properties Group | Trinity
Investment Insights
Based on property information with market context.
This freestanding commercial property was built in 1932 and is currently arranged for booth-rental hair salon operations. The interior combines multiple salon stations with private suites, open workspace, and additional rooms that support varied personal-service configurations. Its layout can accommodate continued salon, beauty, wellness, or other professional uses, subject to zoning and applicable approvals.
The property fronts Grand Boulevard in New Port Richey, with access to surrounding residential areas, downtown New Port Richey, and major area roadways. Walk Score is 30 and Bike Score is 56, reflecting a car-dependent setting with some bike access.
The property fronts Grand Boulevard in New Port Richey, with access to surrounding residential areas, downtown New Port Richey, and major area roadways. Walk Score is 30 and Bike Score is 56, reflecting a car-dependent setting with some bike access.
Key Highlights
- Freestanding commercial property built in 1932
- Current booth‑rental hair salon configuration
- Multiple salon stations and private suites
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
$12,174
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
3.26%
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%
$243,480
$243.5K
Cap Rate 7%
$173,914
$173.9K
Cap Rate 9%
$135,267
$135.3K
Market Conditions
NOI Build-Up for 1,240 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
$18.6K $15.00/SF
− Vacancy
−$1.2K −$0.98/SF
EGI
$17.4K $14.03/SF
− OpEx
−$5.2K −$4.21/SF
NOI
$12.2K $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%
$243,480
Cap Rate 7%
$173,914
Cap Rate 9%
$135,267
Alternative Uses
Best Use
Retail
$173.9K
$152.2K – $202.9K
NOI $12,174 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.5K
$247.2K – $329.6K
NOI $19,773 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,541
Businesses Nearby
18k
Monthly Visits Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Holistic & Wellness Consultants — 5340 Gulf Dr STE 202, New Port Richey, FL 34652
- Chinese Acupuncture Center — 5623 Gulf Dr, New Port Richey, FL 34652
- Select Physical Therapy - New Port Richey — 5347 Main St Suite 202, New Port Richey, FL 34652
- Coastline Salt Room — 5426 Main St, New Port Richey, FL 34652
- Maharajh Acupuncture & Herb Shoppe — 5805 Main St, New Port Richey, FL 34652
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Configured with salon stations, private suites, and open work areas for personal-service operations.
Where is this spa & wellness property located?
The property is located at 6119 GRAND New Port Richey, FL.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: Freestanding commercial property built in 1932; Current booth‑rental hair salon configuration; Multiple salon stations and private suites
