Air-Conditioned Flex
For Sale
Contact for pricing
6603 INDUSTRIAL AVE, Port Richey, FL 34668
Insulated facility with office space, drive-in access, and a fenced, gated yard.
Property Size2,400 SF
Lot Size0.33 Acres
Price / SF$187.50
Days on Market11
Property Features for 6603 INDUSTRIAL AVE
General Information
Standard status
Active
Size
2,400 SF
Class
C
Lot size
0.33 Acres
Property subtype
Industrial
Zoning
l-1
Lease Type
Absolute Net
Investment Type
Owner/User
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Drive-In Doors
3
Power
200 amps
Three-Phase Power
No
Conditioned Warehouse
Yes
Additional Details
Asking Price
$450,000
Building Details
Year Built
1976
Year Renovated
2021
Buildings
1
Stories
1
Units
2400
Tenancy
Single
Building Size
2,400 SF
Construction
red iron
Listing Agency:
John Burpee & Associates
(727) 585-2070
Listed By:
Beck Buchanan · License #SL3632452
Source:
Crexi
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 12:58AM
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 John Burpee & Associates
Investment Insights
Based on property information with market context.
This 2,400 SF flex building was constructed in 1976 and features a fully insulated, air-conditioned interior with dedicated office build-out. Three drive-in roll-up doors support movement of equipment and materials, while single-phase 200-amp electrical service accommodates the building’s operations. Ceiling clearance measures 9.5 feet at the eaves and 10.5 feet at the peak.
The property occupies a 1/3-acre lot with a fenced and gated yard and a paved surface lot. Its combination of conditioned workspace, office area, multiple drive-in doors, and outdoor storage area supports flex, warehouse, distribution, and manufacturing uses as identified in the property information. The asset is offered for sale.
The property occupies a 1/3-acre lot with a fenced and gated yard and a paved surface lot. Its combination of conditioned workspace, office area, multiple drive-in doors, and outdoor storage area supports flex, warehouse, distribution, and manufacturing uses as identified in the property information. The asset is offered for sale.
Key Highlights
- 2,400 SF industrial building on a 1/3‑acre lot
- Built in 1976 with full insulation and air conditioning
- Three drive‑in/roll‑up doors
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
$25,834
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
5.74%
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%
$516,680
$516.7K
Cap Rate 7%
$369,057
$369.1K
Cap Rate 9%
$287,044
$287.0K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$3.5K −$1.44/SF
EGI
$39.7K $16.56/SF
− OpEx
−$13.9K −$5.80/SF
NOI
$25.8K $10.76/SF
Area
Pasco County, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$516,680
Cap Rate 7%
$369,057
Cap Rate 9%
$287,044
Alternative Uses
Best Use
Flex RnD
$369.1K
$322.9K – $430.6K
NOI $25,834 @ 7.0% cap · market cap 5.74%
Second Best
Industrial
$275.1K
$240.7K – $321.0K
NOI $19,257 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$546.7K
$478.4K – $637.8K
NOI $38,269 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,121
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34668, FL
48,781
Population
23,883
Households
2
Avg Household Size
45
Median Age
13%
College-Educated
88%
High-School Grad
15.5 sq mi
ZIP Area
3,147
Density / Sq Mi
$45,760
Median Household Income
$35,610
Median Earnings
$1,278
Median Rent
$168,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Insulated facility with office space, drive-in access, and a fenced, gated yard.
Where is this flex space located?
The property is located at 6603 INDUSTRIAL AVE Port Richey, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,400 SF industrial building on a 1/3‑acre lot; Built in 1976 with full insulation and air conditioning; Three drive‑in/roll‑up doors
