Mixed-Use Property with Office and
New
For Sale
$1,300,000
7429 US HIGHWAY 19, New Port Richey, FL 34652
Combined commercial and residential property with leased office space, remodeled apartments, and direct highway access.
Property Size4,777 SF
Lot Size0.50 Acres
Days on Market2
Property Features for 7429 US HIGHWAY 19
General Information
Standard status
Active
Size
4,777 SF
Lot size
0.50 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Office Units
2
Taxes and HOA fees
Annual Taxes
$2,230
Building Details
Building Size
4,777 SF
Year Built
1977
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Smart Realty of Polk Inc dba Keller Williams Realty
(863) 860-3620
Listed By:
Chad Karr · License #3124399
(863) 860-3620
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 2:52AM
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 Smart Realty of Polk Inc dba Keller Williams Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines two commercial office spaces with six remodeled residential units, each configured as a one-bedroom, one-bath apartment. The office suites are subject to active triple-net leases with 5 years remaining. Residential improvements include updated interiors, while all roofs were replaced with a 15-year transferable warranty. A new septic system serves the property.
The half-acre asset has direct access to US Hwy 19 through dual entrance and exit drives. Built in 1977, it brings together office and apartment uses in one operating property, with walkability and bikeability scores of 74 and 60, respectively.
The half-acre asset has direct access to US Hwy 19 through dual entrance and exit drives. Built in 1977, it brings together office and apartment uses in one operating property, with walkability and bikeability scores of 74 and 60, respectively.
Key Highlights
- Two commercial office spaces with active triple‑net leases and 5 years remaining
- Six remodeled 1‑bed/1‑bath residential units
- Half‑acre mixed‑use property with direct US Hwy 19 access
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
$59,330
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
4.56%
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%
$1,186,600
$1.2M
Cap Rate 7%
$847,571
$847.6K
Cap Rate 9%
$659,222
$659.2K
Market Conditions
NOI Build-Up for 4,777 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
$103.2K $21.60/SF
− Vacancy
−$8.3K −$1.73/SF
EGI
$94.9K $19.87/SF
− OpEx
−$35.6K −$7.45/SF
NOI
$59.3K $12.42/SF
Area
Pasco County, FL
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,186,600
Cap Rate 7%
$847,571
Cap Rate 9%
$659,222
Alternative Uses
Best Use
Mixed Use
$847.6K
$741.6K – $988.8K
NOI $59,330 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$627.6K
$549.2K – $732.3K
NOI $43,935 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$1.09M
$952.2K – $1.27M
NOI $76,172 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
6
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined commercial and residential property with leased office space, remodeled apartments, and direct highway access.
Where is this mixed-use property located?
The property is located at 7429 US HIGHWAY 19 New Port Richey, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two commercial office spaces with active triple‑net leases and 5 years remaining; Six remodeled 1‑bed/1‑bath residential units; Half‑acre mixed‑use property with direct US Hwy 19 access
