10532 Devco Dr Port Richey, FL 34668-2826
Entity Owned
2-yr Hold
~
Est. High Equity
Estimated value (blended)
$1.46M
Range $1.31M – $1.60M (±10%)
Implied cap rate
4.70%
In-place · NOI ÷ last sale
Property ID
US18-4901855
Property summary
AI-generated overview
This exceptional 9,360 square foot free-standing office building in Port Richey, Florida, is available for $1,650,000. Built in 1974, this single-story structure sits on a 1.56-acre lot and is zoned C2. The property boasts a highly desirable location with 207 feet of frontage along US Highway 19, benefiting from an average annual daily traffic count of 55,000 vehicles. Previously occupied by AAA Insurance and Services, this property offers established prestige and immediate visibility. The spacious interior provides versatile space suitable for a variety of business uses. This is a unique opportunity to acquire a well-located commercial property with significant potential for growth and success in a high-traffic area of Pasco County. The asking price is $176.28 per square foot. The property address is 10532 Devco Drive, Port Richey, FL 34668.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1974
Total area
9,360 SF
Lot
1.56 ac (67,853 SF)
Zoning code
00C2
APN
15-25-16-0000-00300-0070
UPID
US18-4901855
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.43M
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.46M
Owner & transaction history
since 2023
Last sale
$1.4M
1 recorded transaction
Zoning & alternative use
00C2 · Port Richey, FL
Top alternative use upside
Medical building
$2.0M
+94.0%
Retail stores
$1.9M
+85.1%
Commercial (general)
$1.6M
+48.8%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.46M
Value range
$1.31M – $1.60M
±10% around blend
Estimated value / SF
$155 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
30
$1.31M
blend $1.46M
$1.60M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,360 SF
Lot area
1.56 ac
Year built
1974
Stories
1
APN
15-25-16-0000-00300-0070
Assessed value
$691,250
Annual tax
$13,031
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.04M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.13M
@ 6.5% CAP return
$1.04M
@ 7% CAP return
$960k
4
Sales comparison
Partial preview
Sales approach indication
$2.47M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
18.4 mi away · 7,444 SF
23.7 mi away · 9,600 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.46M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 27 sales
$111
+39%
County 127 sales
$148
+5%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $155/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+94%
vs current-use indication
Retail Stores
Commercial (general)
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
4.70%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.70%
9.0%
NOI (est.)
$98k *
Last sale · Oct 2023
$1.40M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.09M
Move the market yield to see immediate price impact.
Value / SF
$223
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.20%4.70%5.20%
$88k
$2.10M
$1.88M
$1.70M
$98k
$2.33M
$2.09M
$1.88M
$108k
$2.57M
$2.29M
$2.07M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$3.40M
16.0 mi · Feb 2026 · $345/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,031
Tax year 2023
Assessed value
$691,250
Assessed 2023
Previous assessed
$674,273
+2.5% YoY
Effective rate
1.89%
On assessed value
Assessed land
$289,600
Assessed improvement
$401,650
Land market value
$289,600
Improvement market value
$401,650
Total market value
$691,250
Applied tax rate
6,200.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1974
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Units
376
Bathrooms
2
Total area
9,360 SF
Lot
1.56 ac (67,853 SF)
Zoning code
00C2
APN
15-25-16-0000-00300-0070
UPID
US18-4901855
Jurisdiction
PASCO
Zoning & alternative use
00C2 · Port Richey, FLZoning 00C2 · permitted uses
00C2 · Port Richey, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
376
Bathrooms
2
Lot
1.56 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
00C2
Jurisdiction
Port Richey, FL
Recorded code
00C2
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Debt & historyRecorded loans and transaction history
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