Turn-Key Office
For Sale
$259,000
6511 MAIN St, New Port Richey, FL 34653
Move-in ready office with reception, private offices, conference space, central A/C, and private fenced parking.
Property Size918 SF
Days on Market51
Property Features for 6511 MAIN St
General Information
Standard status
Active
Size
918 SF
Total Parking Spaces
5
Property subtype
Commercial
Site & Location
Traffic Count
12,000 vehicles/day
Fenced Yard
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$2,431
Building Details
Building Size
918 SF
Year Built
1954
Stories
1
Units
1
Listing Agency:
COMPASS FLORIDA LLC
(813) 397-7137
Listed By:
Romana Simplice · License #3357166
(813) 397-7137
Source:
Elliman
Added: Jul 4
Changed: Aug 21
Last Checked: Aug 22 at 9:49AM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This turn-key office building features a reception area, three private offices, a large conference or meeting room, and a kitchen or break room. Updated flooring and central A/C support a bright, modern interior, while a flexible floor plan is designed to accommodate changing business needs. The exterior includes a metal roof, security cameras, and a fully fenced property.
The building sits on a prime corner lot on Main Street in downtown New Port Richey, with high visibility and excellent road frontage. The property is described as having an estimated 6,000–12,000 vehicles passing daily, along with easy accessibility and signage opportunities. A private asphalt parking lot provides five parking spaces, with room to add more. The public remarks also note a direct drive to the Gulf.
Well suited for a range of professional and service-oriented operations, including professional office, medical or wellness practice, and accounting or consulting use cases, this property is positioned to support both daily operations and client-facing appointments. The asset is reported to be in Flood Zone X and listed as having no HOA fees. With private parking and a maintained, operational interior, it offers a practical option for an owner-operator or an investor seeking a ready-to-occupy downtown office presence.
The building sits on a prime corner lot on Main Street in downtown New Port Richey, with high visibility and excellent road frontage. The property is described as having an estimated 6,000–12,000 vehicles passing daily, along with easy accessibility and signage opportunities. A private asphalt parking lot provides five parking spaces, with room to add more. The public remarks also note a direct drive to the Gulf.
Well suited for a range of professional and service-oriented operations, including professional office, medical or wellness practice, and accounting or consulting use cases, this property is positioned to support both daily operations and client-facing appointments. The asset is reported to be in Flood Zone X and listed as having no HOA fees. With private parking and a maintained, operational interior, it offers a practical option for an owner-operator or an investor seeking a ready-to-occupy downtown office presence.
Key Highlights
- 1954‑built, move‑in ready office with reception area, 3 private offices, large conference/meeting room, and kitchen/break room
- Updated flooring and central A/C throughout, with a flexible floor plan designed to adapt to business needs
- Metal roof and fully fenced property with security cameras
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
$8,467
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
3.27%
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%
$169,340
$169.3K
Cap Rate 7%
$120,957
$121.0K
Cap Rate 9%
$94,078
$94.1K
Market Conditions
NOI Build-Up for 918 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
$15.4K $16.80/SF
− Vacancy
−$1.3K −$1.43/SF
EGI
$14.1K $15.37/SF
− OpEx
−$5.6K −$6.15/SF
NOI
$8.5K $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%
$169,340
Cap Rate 7%
$120,957
Cap Rate 9%
$94,078
Alternative Uses
Best Use
Healthcare Medical
$121.0K
$105.8K – $141.1K
NOI $8,467 @ 7.0% cap · market cap 3.27%
Second Best
Office B
$88.5K
$77.4K – $103.3K
NOI $6,195 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$209.1K
$183.0K – $244.0K
NOI $14,638 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
735
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
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Frequently Asked Questions
What type of property is this?
Office building - Move-in ready office with reception, private offices, conference space, central A/C, and private fenced parking.
Where is this office building located?
The property is located at 6511 MAIN St New Port Richey, FL.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 1954‑built, move‑in ready office with reception area, 3 private offices, large conference/meeting room, and kitchen/break room; Updated flooring and central A/C throughout, with a flexible floor plan designed to adapt to business needs; Metal roof and fully fenced property with security cameras
