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    7268 Fl-54 New Port Richey, FL 34653

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    For Lease
    Contact for pricing

    High-traffic retail center in New Port Richey, FL

    Lot size:
    21,136 SF

    Property Features for 7268 Fl-54

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,136 SF
    Class
    C
    Total Rate
    24658.67

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 7268 Fl-54, New Port Richey, FL 34653 Contact us
    Unit 7260 - After Sells

    $14 /Mo

    Size
    1,456 SF
    Contact us
    Unit Suite 7298-7296

    $14 /Mo

    Size
    1,540 SF
    Contact us

    We can help!

    Listing Contact
    Eric Odum
    Eric Odum

    Listing Agent: Eric Odum

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    7 Springs Plaza, located at 7268 FL-54 in New Port Richey, Florida (zip code 34653), presents a compelling retail investment opportunity. This Class C strip center, built in 1984, boasts a total of 21,136 square feet, with 2,996 square feet currently vacant. The property is zoned C2 and situated on a high-traffic corner, offering excellent visibility for businesses. Units range from a minimum divisible space of 1,456 square feet to a maximum contiguous space of 1,540 square feet, making it suitable for a variety of retail tenants. Recent improvements include renovations to the parking lot, fencing, painting, and roofing, reflecting a commitment to maintaining the property's appeal. The center also offers pylon signage opportunities for increased brand visibility. This property is located in Pasco County and is ideal for businesses seeking high visibility and accessibility. Prices are quoted NNN (Net, Net, Net), excluding common area maintenance and sales tax. This prime location on a busy thoroughfare provides exceptional potential for growth and profitability. The property's multiple tenancy allows for diverse business opportunities within a thriving commercial environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Map

    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.6939237
    Latitude
    28.2160521

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    FAQs

    What type of property is this?
    Neighborhood center - High-traffic retail center in New Port Richey, FL
    Where is this neighborhood center located?
    The property is located at 7268 Fl-54 New Port Richey, FL.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 7 Springs Plaza, a 21,136 SF Class C retail center in New Port Richey, FL (34653), offers excellent visibility on high-traffic SR 54 with over 45,000 vehicles daily.; Lighted corner ingress/egress provides easy access.; Prime location at the intersection of FL-54 and Seven Springs Blvd, a major Pasco County artery.
    (813) 514-1070 Call to check price and availability
    Request Owner's contact information
    7268 Fl-54 New Port Richey, FL 34653
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    New Port Richey, FL 34653
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7268 Fl-54 New Port Richey, FL 34653
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    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Odum
    Eric Odum
    Real Estate License ID: CQ1033005
    (813) 514-1070 8131070
    Learn more
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