Renovated Medical Office
New
For Sale
$750,000
6430 Madison St, New Port Richey, FL 34652
The former dental practice retains plumbing infrastructure and offers a flexible mix of treatment, office, and open-plan areas.
Property Size3,372 SF
Lot Size0.23 Acres
Price / SF$222.42
Days on Market2
Property Features for 6430 Madison St
General Information
Standard status
Active
Size
3,372 SF
Class
C
Total Parking Spaces
18
Lot size
0.23 Acres
Property subtype
Office
Zoning
Office zoning
Additional Details
Road Access
Yes
Building Details
Building Size
3,372 SF
Year Built
1975
Buildings
1
Owner Occupied
No
Listed By:
Kari L. Grimaldi/ Broker · License #FL #BK3076744
(813) 376-3386
Source:
Grimaldicommercialrealty
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:18AM
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 Kari L. Grimaldi/ Broker
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Investment Insights
Based on property information with market context.
Freestanding medical office space at 6430 Madison Street contains 3,372± square feet on an approximately 0.23-acre site. The recently renovated interior includes reception, private offices, multiple treatment rooms, storage, and open-plan areas, along with central HVAC, two restrooms, and accessibility features. Retained dental plumbing supports medical and dental use. The owner or occupant will select the final flooring. The building is vacant and was built in 1975.
At the corner of Madison Street and Central Avenue in New Port Richey, the property is about two blocks, or a 0.2-mile walk, from BayCare Morton Plant North Bay Hospital. Sims Park and downtown amenities are within a half-mile walk, and US 19 at Main Street is approximately 1.3 miles by road. The site has approximately 18 on-site parking spaces, covered rear parking, and a separate rear entrance.
The property has office zoning and a Downtown Future Land Use designation under the City of New Port Richey. Its existing layout combines treatment rooms and conventional office areas.
At the corner of Madison Street and Central Avenue in New Port Richey, the property is about two blocks, or a 0.2-mile walk, from BayCare Morton Plant North Bay Hospital. Sims Park and downtown amenities are within a half-mile walk, and US 19 at Main Street is approximately 1.3 miles by road. The site has approximately 18 on-site parking spaces, covered rear parking, and a separate rear entrance.
The property has office zoning and a Downtown Future Land Use designation under the City of New Port Richey. Its existing layout combines treatment rooms and conventional office areas.
Key Highlights
- 3,372± SF freestanding medical office building on an approximately 0.23‑acre site
- Former dental practice with retained plumbing infrastructure
- Approximately 18 on‑site spaces, including covered rear parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,101
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$622,020
$622.0K
Cap Rate 7%
$444,300
$444.3K
Cap Rate 9%
$345,567
$345.6K
Market Conditions
NOI Build-Up for 3,372 SF
Gross rent
$56.6K $16.80/SF
− Vacancy
−$4.8K −$1.43/SF
EGI
$51.8K $15.37/SF
− OpEx
−$20.7K −$6.15/SF
NOI
$31.1K $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 Rate 5%
$622,020
Cap Rate 7%
$444,300
Cap Rate 9%
$345,567
Alternative Uses
Best Use
Healthcare Medical
$444.3K
$388.8K – $518.4K
NOI $31,101 @ 7.0% cap · market cap 4.15%
Second Best
Office B
$325.1K
$284.4K – $379.3K
NOI $22,755 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$768.1K
$672.1K – $896.2K
NOI $53,769 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,341
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - The former dental practice retains plumbing infrastructure and offers a flexible mix of treatment, office, and open-plan areas.
Where is this medical office space located?
The property is located at 6430 Madison St New Port Richey, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,372± SF freestanding medical office building on an approximately 0.23‑acre site; Former dental practice with retained plumbing infrastructure; Approximately 18 on‑site spaces, including covered rear parking
