Medical Office
For Sale
$169,000
Pending
6609 RIDGE ROAD 1, Port Richey, FL 34668
Medical office suite for sale at 6609 Ridge Road 1 in Port Richey, Florida.
Property Size1,000 SF
Days on Market101
Property Features for 6609 RIDGE ROAD 1
General Information
Standard status
Pending
Size
1,000 SF
Zoning
MF2
Taxes and HOA fees
Annual Taxes
$1,490
Amenities
Sidewalks
Building Details
Building Size
1,000 SF
Year Built
1981
Stories
1
Listing Agency:
FLORIDA REALTY INVESTMENTS
Listed By:
Sujata Katikala · License #3057328
(813) 618-3279
Source:
Evrealestate
Added: Jun 5
Changed: Sep 8
Last Checked: Sep 13 at 4:34AM
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 FLORIDA REALTY INVESTMENTS
Investment Insights
Based on property information with market context.
This for-sale medical office suite is located at 6609 Ridge Road 1 in Port Richey, FL 34668. The property is identified as office space suitable for medical office use.
Access is described from SR 54, taking a right onto Little Rd, then a left onto Ridge Rd to the address.
Additional property details beyond the general use and address were not provided.
Access is described from SR 54, taking a right onto Little Rd, then a left onto Ridge Rd to the address.
Additional property details beyond the general use and address were not provided.
Key Highlights
- Medical office suite for sale at 6609 Ridge Road 1 in Port Richey, Florida
- Year built: 1981
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
$9,223
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
5.46%
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%
$184,460
$184.5K
Cap Rate 7%
$131,757
$131.8K
Cap Rate 9%
$102,478
$102.5K
Market Conditions
NOI Build-Up for 1,000 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
$16.8K $16.80/SF
− Vacancy
−$1.4K −$1.43/SF
EGI
$15.4K $15.37/SF
− OpEx
−$6.1K −$6.15/SF
NOI
$9.2K $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%
$184,460
Cap Rate 7%
$131,757
Cap Rate 9%
$102,478
Alternative Uses
Best Use
Healthcare Medical
$131.8K
$115.3K – $153.7K
NOI $9,223 @ 7.0% cap · market cap 5.46%
Second Best
Office B
$96.4K
$84.4K – $112.5K
NOI $6,748 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$227.8K
$199.3K – $265.8K
NOI $15,946 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,004
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office suite for sale at 6609 Ridge Road 1 in Port Richey, Florida.
Where is this medical office space located?
The property is located at 6609 RIDGE ROAD 1 Port Richey, FL.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Medical office suite for sale at 6609 Ridge Road 1 in Port Richey, Florida; Year built: 1981
