Port Richey Commercial/Industrial
For Sale
Contact for pricing
8524 Rees St, Port Richey, FL 34668
Adaptable industrial space in a business-oriented corridor of Pasco County.
Property Size10,720 SF
Lot Size0.25 Acres
Price / SF$198.69
Days on Market199
Property Features for 8524 Rees St
General Information
Standard status
Active
Size
10,720 SF
Lot size
0.25 Acres
Property subtype
Industrial
Zoning
C2
Investment Type
Owner/User
Building Details
Year Built
2010
Buildings
2
Stories
1
Units
2
Listing Agency:
Marcus & Millichap
Listed By:
Devin Guilliams · License #SL3422521
Source:
Crexi
Added: Feb 5
Changed: Aug 21
Last Checked: Aug 14 at 6:05AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Located in Port Richey, Florida, within Pasco County, 8524 Rees Street is a commercial/industrial property historically used for business or light industrial purposes. The improvements are designed for functional, utility-oriented use, consistent with warehouse, workshop, or contractor-style operations. Situated in a predominantly industrial and service-oriented area with access to local arterial roads, the site is suitable for distribution, storage, fabrication, or similar commercial activities. The location benefits from proximity to U.S. 19 and other regional connectors serving western Pasco County. The building is reported to contain approximately 9,000 to 10,000 square feet of interior space. Public listings and descriptions suggest durable construction, including concrete block or steel elements, and features commonly sought by industrial users, such as open interior layouts, heavy-duty utility capacity, and business-grade electrical service. The building size is substantial for the Port Richey submarket, particularly for owner-users or investors seeking flexible industrial space. The property's appeal lies in its functional construction, adaptable interior space, and location within a business-oriented corridor of western Pasco County, making it suitable for a range of light industrial or commercial uses. The property size is 10,720 square feet.
Key Highlights
- Sizeable Industrial/Commercial Space: Approximately 9,000‑10,000 square feet of interior space.
- Functional and Durable Construction: Designed with concrete block or steel elements and open interior layouts.
- Business‑Oriented Location: Situated in an industrial area of Port Richey with access to local and regional roads.
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
$115,390
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
5.42%
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%
$2,307,800
$2.3M
Cap Rate 7%
$1,648,429
$1.6M
Cap Rate 9%
$1,282,111
$1.3M
Market Conditions
NOI Build-Up for 10,720 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
$193.0K $18.00/SF
− Vacancy
−$15.4K −$1.44/SF
EGI
$177.5K $16.56/SF
− OpEx
−$62.1K −$5.80/SF
NOI
$115.4K $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%
$2,307,800
Cap Rate 7%
$1,648,429
Cap Rate 9%
$1,282,111
Alternative Uses
Best Use
Flex RnD
$1.65M
$1.44M – $1.92M
NOI $115,390 @ 7.0% cap · market cap 5.42%
Second Best
Industrial
$1.23M
$1.08M – $1.43M
NOI $86,015 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $170,937 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,014
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 - Adaptable industrial space in a business-oriented corridor of Pasco County.
Where is this flex space located?
The property is located at 8524 Rees St Port Richey, FL.
What is the asking price?
The asking price for this property is $2,130,000.
What are key features of this property?
This property features: Sizeable Industrial/Commercial Space: Approximately 9,000‑10,000 square feet of interior space.; Functional and Durable Construction: Designed with concrete block or steel elements and open interior layouts.; Business‑Oriented Location: Situated in an industrial area of Port Richey with access to local and regional roads.
