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    Property profile & analytics

    10532 Devco Dr Port Richey, FL 34668-2826

    • Office buildings
    • 9,360 SF
    • 1.56 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2023
    $1,400,000
    Value Estimations
    $1,380,000
    Show details
    Cap Rate Potential
    4.7%
    Office buildings
    Location Intelligence
    Property ID
    US18-4901855
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • AAA Port Richey / Insurance Agency

    Property Details for 10532 Devco Dr

    Year built
    1974
    Lot size
    1.56 lot acres
    Property size
    9,360 SF
    Zone code
    00C2
    Property type
    Office buildings
    APN
    15-25-16-0000-00300-0070
    APU
    1525160000003000070

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,420,000
      ML approach
      $1,425,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,125,000
      6.5%
      $1,035,000
      7%
      $960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,127,000
      Market price range: $550k - $1.48M
      AI Estimate
      $1,002,000
      Market price range: $412k - $1.43M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.6989
    Latitude
    28.3106
    CBSA code
    45300
    CBSA name
    TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,031
    $289,600
    $401,650
    $691,250
    -
    $289,600
    $401,650
    $691,250

    Comparable in this City

    • Value Estimation
      $190,000
      4,189 SF

      6541 Orchid Lk Rd

      OFFICE BUILDING • 4,189 SF
      6541 Orchid Lk Rd, Port Richey, FL 34668
      View Details
    • Value Estimation
      $475,000
      14,814 SF

      11031 Us Hwy 19

      OFFICE BUILDING • 14,814 SF
      11031 Us Hwy 19, Port Richey, FL 34668-2248
      View Details
    • Value Estimation
      $615,000
      3,930 SF

      7914 Us Hwy 19

      OFFICE BUILDING (MULTI-STORY) • 3,930 SF
      7914 Us Hwy 19, Port Richey, FL 34668-6359
      View Details
    • Value Estimation
      $870,000
      29,051 SF

      11321 Us Hwy 19

      OFFICE BUILDING • 29,051 SF
      11321 Us Hwy 19, Port Richey, FL 34668-1416
      View Details
    • Value Estimation
      $260,000
      6,480 SF

      7920 Us Hwy 19

      OFFICE BUILDING • 6,480 SF
      7920 Us Hwy 19, Port Richey, FL 34668-6633
      View Details
    • Value Estimation
      $320,000
      6,600 SF

      6740 Commerce Ave

      OFFICE BUILDING • 6,600 SF
      6740 Commerce Ave, Port Richey, FL 34668-6814
      View Details

    Similar Nearby for Sale

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      Port Richey Office Space Available

      Office space for sale in Port Richey, Florida.
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      Affordable commercial office with flexible layout and new roof.
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      Affordable commercial office space with flexible layout and new roof.
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    • $649,900
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      Port Richey Office Complex

      Two buildings, high-traffic location.
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    • $510,000
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      Prime Commercial Site on US-19

      Multi-building commercial site with high traffic and flexible zoning.
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      View Details
    • $1,500,000
      2.82 Acres

      Port Richey Class A Development Site

      Shovel-ready, 540-unit self-storage land
      7728 Ridge Rd, Port Richey, FL 34668
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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    • $14 SF/Yr
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      Port Richey Office Space For Lease

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      5,265 SF office space in a thriving business district.
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    • $12,000 /Mo

      Office Space with High Visibility

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      View Details
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      Renovated Office Space on US-19

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      View Details
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      5,265 SF

      Port Richey Medical Office Building

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      View Details
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    Port Richey, FL 34668-2826
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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
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