Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8027 Congress St Port Richey, FL 34668
    Back to Search
    Property profile & analytics

    8027 Congress St, Port Richey, FL 34668

    View on Map
    • Self storage facilities
    • 34,560 SF
    • 2.21 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • G&O Storage / Storage Facility

    Property Details for 8027 Congress St

    Year built
    1996
    Lot size
    2.21 lot acres
    Property type
    Self storage facilities

    Description

    This exceptional investment opportunity presents a fully occupied (100% occupancy as of September 17, 2024) boat and RV storage facility located at 8027 Congress St, Port Richey, FL 34668. The property, encompassing 2.21 acres, features two single-story buildings totaling 34,560 square feet, with 15,750 square feet of net rentable space and 72 units. Built in 1996, this facility boasts secure covered storage, gated access, 24/7 video surveillance, and well-lit grounds, ensuring tenant safety and peace of mind. Currently operating at a 5.25% cap rate and a NOI of $104,538, the property offers significant value-add potential. The current below-market rents and the opportunity to implement electricity charges present a clear path to increase revenue, projected to boost the NOI to $129,892 and the cap rate to 6.53%. The property's strong performance is further supported by consistent revenue growth over the past three years, driven by limited competition and increasing demand in the area. Its strategic location, 1.1 miles from the Gulf of Mexico and 15 miles from Weeki Wachee Springs State Park (a popular tourist attraction drawing over 500,000 visitors annually), enhances its appeal and potential for continued growth. The asking price is $1,990,000, or $27,639 per unit. This property is zoned C-2 General Commercial.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.7081
    Latitude
    28.2739

    Comparable in this City

    • Value Estimation
      $4,175,000
      34,319 SF

      7215 Rdg Rd

      MINI-WAREHOUSE, STORAGE
      7215 Rdg Rd, Port Richey, FL 34668-6941
      View Details
    • Value Estimation
      $1,885,000
      15,500 SF

      6101 Rdg Crst Dr

      MINI-WAREHOUSE, STORAGE
      6101 Rdg Crst Dr, Port Richey, FL 34668-5229
      View Details
    • Value Estimation by Request
      2.82 Acres

      7728 Ridge Rd

      Self storage facilities
      7728 Ridge Rd, Port Richey, FL 34668
      View Details
    • Value Estimation
      $3,545,000
      29,160 SF

      11204 Us Hwy 19

      MINI-WAREHOUSE, STORAGE
      11204 Us Hwy 19, Port Richey, FL 34668-1637
      View Details
    • Value Estimation
      $5,400,000
      44,400 SF

      6647 Embassy Blvd

      MINI-WAREHOUSE, STORAGE
      6647 Embassy Blvd, Port Richey, FL 34668-4976
      View Details
    • Value Estimation
      $1,775,000
      14,680 SF

      7140 Rdg Rd

      MINI-WAREHOUSE, STORAGE
      7140 Rdg Rd, Port Richey, FL 34668-6938
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      53,400 SF

      Class A Storage Facility Investment

      Under construction Class A storage facility with 533 units.
      7728 Ridge Rd, Port Richey, FL 34668
      View Details
    • $799,000

      Commercial Warehouse with Retail Frontage

      Heated warehouse with retail frontage, roll-up doors, and offices.
      6028 Pine Hill Rd, Port Richey, FL 34668
      View Details
    • Contact for pricing
      10,720 SF

      Port Richey Commercial/Industrial Property

      Adaptable industrial space in a business-oriented corridor of Pasco County.
      8524 Rees St, Port Richey, FL 34668
      View Details
    • Contact for pricing
      8,944 SF

      Versatile Commercial Property in Port Richey

      8,944 SF property on 10.47 acres with flexible zoning.
      9734 Us Highway 19, Port Richey, FL 34668
      View Details
    • Contact for pricing
      5,000 SF

      New Metal Warehouse on Acres

      New 5,000 SF metal warehouse on 2.01 acres.
      6305 Springer Dr, Port Richey, FL 34668
      View Details

    Similar Nearby for Lease

    • $27,600

      Renovated Office/Warehouse Space For Rent

      Recently renovated office/warehouse space with central location and warehouse access.
      7904 Us Highway 19, Port Richey, FL 34668
      View Details
    • Contact for pricing
      3,179 SF

      Port Richey Flex Warehouse Space

      Flex warehouse with office in Port Richey's industrial zone.
      7914 Clark Moody Blvd, Port Richey, FL 34668
      View Details
    • $13,200 /Mo

      Warehouse with Office and Accessibility

      Convenient warehouse space with office, accessibility, and gated access.
      7821 Clark Moody Blvd, Port Richey, FL 34668
      View Details
    • $78,975
      21,068 SF

      Port Richey Office Complex Space

      Office complex in Port Richey, Florida with ample space.
      8202 Washington St, Port Richey, FL 34668
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8027 Congress St
    Port Richey, FL 34668
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8027 Congress St, Port Richey, FL, 34668
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!