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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2523 Permit Pl New Port Richey, FL 34655-4519

    • Office buildings
    • 8,191 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    $1,015,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4467934
    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

    • Office buildings

    Property Details for 2523 Permit Pl

    Year built
    2005
    Lot size
    0.90 lot acres
    Property size
    8,191 SF
    Zone code
    MPUD
    Property type
    Office buildings
    APN
    28-26-16-0000-01100-0020
    APU
    2826160000011000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $985,000
      6.5%
      $905,000
      7%
      $840,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,168,000
      Market price range: $817k - $1.63M
      AI Estimate
      $963,000
      Market price range: $491k - $1.49M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,220,000
      Current use
      COMMERCIAL (GENERAL)
      $1,410,000
      Change: +15% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,135,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.7132
    Latitude
    28.1962
    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
    $11,969
    $79,089
    $591,433
    $670,522
    -
    $79,089
    $591,433
    $670,522

    Comparable in this City

    • Value Estimation
      $995,000
      7,927 SF

      4613 Little Rd

      OFFICE BUILDING (MULTI-STORY) • 7,927 SF
      4613 Little Rd, New Port Richey, FL 34655-1329
      View Details
    • Value Estimation
      $1,070,000
      8,188 SF

      6915 Perrine Rnch Rd

      OFFICE BUILDING • 8,188 SF
      6915 Perrine Rnch Rd, New Port Richey, FL 34655-3904
      View Details
    • Value Estimation
      $670,000
      5,096 SF

      1248 7th Spgs Blvd

      OFFICE BUILDING • 5,096 SF
      1248 7th Spgs Blvd, New Port Richey, FL 34655-5651
      View Details
    • Value Estimation
      $960,000
      4,558 SF

      2550 Permit Pl

      OFFICE BUILDING (MULTI-STORY) • 4,558 SF
      2550 Permit Pl, New Port Richey, FL 34655-4516
      View Details
    • Value Estimation
      $4,305,000
      39,720 SF

      7916 Evolutions Way

      OFFICE BUILDING (MULTI-STORY) • 39,720 SF
      7916 Evolutions Way, Trinity, FL 34655-4708
      View Details
    • Value Estimation
      $820,000
      7,000 SF

      4208 Little Rd

      OFFICE BUILDING • 7,000 SF
      4208 Little Rd, New Port Richey, FL 34655-1605
      View Details

    Similar Nearby for Sale

    • $2,200,000
      5,816 SF

      Trinity Professional Building For Sale

      5,816 sq ft professional building, fully leased and income-generating.
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    • $1,710,675
      4,995 SF

      High Visibility Retail/Medical Building

      Shell construction completed, ideal for retail or medical use.
      5075-5091 Little Rd, New Port Richey, FL 34655
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    • $265,000
      12.50 Acres

      12.5 Acres Near Trinity, FL

      12.5 acre homesite near shopping, restaurants, and expressway.
      Shooting Star Ct, New Port Richey, FL 34655
      View Details
    • $799,900

      Land Available in New Port Richey

      Land for sale at 4115 Little Rd, New Port Richey, FL.
      4115 Little Rd, New Port Richey, FL 34655
      View Details
    • $3,200,000

      Commercial Investment Opportunity

      Commercial property functioning as an early education learning center.
      10911 Fox Wood Commerce Dr, New Port Richey, FL 34655
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    • $265,000
      6.12 Acres

      6.12 Acres Vacant Land

      Vacant land near Trinity, FL, with no HOA restrictions.
      00 Shooting Star Ct, New Port Richey, FL 34655
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      7,548 SF

      Trinity Medical Office Building

      7,548 SF Medical Office Space, Pasco County
      2144 Duck Slough Blvd, Trinity, FL 34655
      View Details
    • $14 SF/Yr
      19,299 SF

      Trinity Commerce Center: Executive Suites

      Class A Office Space, Trinity, FL
      7916 Evolutions Way, Trinity, FL 34655
      View Details
    • Contact for pricing
      2,457 SF

      Medical Office Space For Rent

      Located within Baycare Health Center with high physician demand.
      2044 Trinity Oaks Blvd, New Port Richey, FL 34655
      View Details
    • $18 SF/Yr

      1812 HEALTH CARE Dr, New Port Richey, FL 34655

      Medical Office Available at Trinity Professional Center
      1812 Health Care Dr, New Port Richey, FL 34655
      View Details
    • Contact for pricing
      7,000 SF

      Deer Park Medtail Center - New Port Richey

      7,000 SF Retail Space - Available Now
      0 Little Rd, New Port Richey, FL 34655
      View Details
    • $35 SF/Yr
      2,000 SF

      Retail Space in Power Center

      Retail space available in a high-traffic New Port Richey center.
      2900-3230 Little Rd, New Port Richey, FL 34655
      View Details
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    2523 Permit Pl
    New Port Richey, FL 34655-4519
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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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