Commercial Real Estate Market in New Port Richey, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
367 active listings and 1,432 off-market properties in New Port Richey, FL. Commercial property asks $384/SF to buy and $47.08/SF/Yr to lease.
Market Trends
New Port Richey, FL spans 71.8 square miles in Pasco County, Florida. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in New Port Richey, FL asks $241/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Retail
Retail space in New Port Richey, FL asks $353/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Industrial
Industrial vacancy in New Port Richey, FL runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in New Port Richey, FL asks $225/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Market overview
Demographics & Economy
New Port Richey, FL has 129,214 residents in 63,268 households. Density runs 1,799 people per square mile. Median household income here is $64,873 and median gross rent $1,424 a month.
129,214
Population
63,268
Households
2
Avg Household Size
48
Median Age
26%
College-Educated
91%
High-School Grad
71.8 sq mi
ZIP Area
1,799
Density / Sq Mi
$64,873
Median Household Income
$40,989
Median Earnings
$1,424
Median Rent
$259,223
Median Home Value
Tools
Lease vs Buy Breakeven
At $47.08/SF/Yr lease vs $384/SF buy → buying wins if held > 1 years.
At a 12.3% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Tarpon Springs | $364 (county avg) | $76.00 |
| Palm Harbor | $364 (county avg) | $22.11 |
Commercial property in New Port Richey, FL asks $384/SF. The 2 bordering markets run from $364/SF in Tarpon Springs to $364/SF in Tarpon Springs, and the city sits above their $364/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in New Port Richey?
Commercial property in New Port Richey, FL asks an average of $384 per square foot. The 8 most recent recorded sales traded at a median of $714/SF. Retail carries the highest asking price at $353/SF.
How much does it cost to lease commercial space in New Port Richey?
Asking lease rates in New Port Richey, FL average $47.08 per square foot per year.
Is it cheaper to lease or buy commercial space in New Port Richey?
Buying beats leasing in New Port Richey, FL if the property is held longer than 1.0 years, comparing $47.08/SF/Yr asking rent with $384/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
How does New Port Richey compare to nearby markets on price?
New Port Richey, FL asks $384/SF against $364/SF in Tarpon Springs and $364/SF in Palm Harbor. Tarpon Springs is the cheapest entry point at 5% below New Port Richey pricing, with $76.00/SF/Yr asking rents.
Where does Realmo's New Port Richey market data come from?
Realmo compiles New Port Richey, FL figures from 8 recent recorded sales, 309 active sale listings, 58 active lease listings, 1,432 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 309 active for-sale and 58 active for-lease listings in New Port Richey, FL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
