Port Richey Commercial/Industrial
For Sale
$2,130,000
8524 Rees St, Port Richey, FL 34668
Sizable commercial/industrial property suitable for various light industrial or commercial uses.
Property Size10,720 SF
Price / SF$225.64
Days on Market202
Property Features for 8524 Rees St
General Information
Standard status
Active
Size
10,720 SF
Property subtype
Vacant-User
Amenities
Almost 10,000 SF across two combined warehouse structures in Port Richey right off of Ridge Rd outside of a flood zone
Steel & concrete construction with upgrades completed in 2012. 14x14 and 12x12 grade level doors resistant to 180mph winds and recently re-paved street
Unique buildout includes 3 climate controlled offices with bathrooms and mezzanine space.
Building Details
Building Size
10,720 SF
Year Built
1978
Listed By:
Josh Farrales · License #License(s): FL: SL3624484
(813) 387-4866
Source:
Marcusmillichap
Added: Apr 3
Changed: Oct 12
Last Checked: Oct 20 at 5:09PM
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 Josh Farrales
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Investment Insights
Based on property information with market context.
Located in Port Richey, Florida, within Pasco County, the commercial/industrial property at 8524 Rees Street has historically served business or light industrial purposes. The improvements are designed for functional, utility-oriented use, consistent with warehouse, workshop, or contractor-style operations, and offer extensive residential amenities. 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 contains 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.
Key Highlights
- Substantial building size: 9,000‑10,000 sq ft - ideal for owner‑users or investors.
- Functional construction featuring durable concrete block or steel.
- Adaptable open interior layouts.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,612
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,032,240
$2.0M
Cap Rate 7%
$1,451,600
$1.5M
Cap Rate 9%
$1,129,022
$1.1M
Market Conditions
NOI Build-Up for 9,440 SF
Gross rent
$169.9K $18.00/SF
− Vacancy
−$13.6K −$1.44/SF
EGI
$156.3K $16.56/SF
− OpEx
−$54.7K −$5.80/SF
NOI
$101.6K $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 Rate 5%
$2,032,240
Cap Rate 7%
$1,451,600
Cap Rate 9%
$1,129,022
Alternative Uses
Best Use
Flex RnD
$1.45M
$1.27M – $1.69M
NOI $101,612 @ 7.0% cap · market cap 4.77%
Second Best
Industrial
$1.08M
$946.8K – $1.26M
NOI $75,744 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,526 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Sizable commercial/industrial property suitable for various light industrial or commercial uses.
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: Substantial building size: **9,000‑10,000 sq ft** - ideal for owner‑users or investors.; Functional construction featuring durable concrete block or steel.; Adaptable open interior layouts.
