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

    2550 Permit Pl New Port Richey, FL 34655-4516

    • Office buildings
    • 4,558 SF
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    Jun 02, 2022
    $950,000
    Value Estimations
    $960,000
    Show details
    Cap Rate Potential
    2.7%
    Office buildings
    Location Intelligence
    Property ID
    US18-5063583
    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

    • keystone title agency / Title Company
    • Messina Law Group, P.A. / Estate Planning Attorney
    • FedEx Drop Box / Mailing Service
    • Figurski Gerald A / Attorney
    • Figurski & Harrill / Attorney

    Property Details for 2550 Permit Pl

    Year built
    2004
    Lot size
    0.74 lot acres
    Property size
    4,558 SF
    Zone code
    MPUD
    Property type
    Office buildings
    APN
    28-26-16-0000-00700-0010
    APU
    2826160000007000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,215,000
      ML approach
      $1,155,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $905,000
      Market price range: $455k - $906k
      AI Estimate
      $830,000
      Market price range: $273k - $830k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $680,000
      Current use
      RETAIL STORES
      $1,285,000
      Change: +89% Conversion: Moderate
      MEDICAL BUILDING
      $1,065,000
      Change: +57% Conversion: Easy
      COMMERCIAL (GENERAL)
      $785,000
      Change: +15% Conversion: Easy
      WAREHOUSE, STORAGE
      $630,000
      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
    -82.7126
    Latitude
    28.1968
    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
    $12,673
    $52,778
    $678,051
    $730,829
    -
    $52,778
    $678,051
    $730,829

    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
      $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
    • Value Estimation
      $4,360,000
      46,340 SF

      8049 Photonics Dr

      OFFICE BUILDING • 46,340 SF
      8049 Photonics Dr, Trinity, FL 34655-5128
      View Details

    Similar Nearby for Sale

    • $2,200,000
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      Trinity Professional Building For Sale

      5,816 sq ft professional building, fully leased and income-generating.
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      High Visibility Retail/Medical Building

      Shell construction completed, ideal for retail or medical use.
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      Build your dream home in the exclusive Champions Club community.
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      Land Available in New Port Richey

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

      Commercial Investment Opportunity

      Commercial property functioning as an early education learning center.
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    • $265,000
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      6.12 Acres Vacant Land

      Vacant land near Trinity, FL, with no HOA restrictions.
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    Similar Nearby for Lease

    • $32 SF/Yr
      7,548 SF

      Trinity Medical Office Building

      7,548 SF Medical Office Space, Pasco County
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      Trinity Commerce Center: Executive Suites

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

      Medical Office Space For Rent

      Located within Baycare Health Center with high physician demand.
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    • $18 SF/Yr

      1812 HEALTH CARE Dr, New Port Richey, FL 34655

      Medical Office Available at Trinity Professional Center
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      View Details
    • Contact for pricing
      7,000 SF

      Deer Park Medtail Center - New Port Richey

      7,000 SF Retail Space - Available Now
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      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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    2550 Permit Pl
    New Port Richey, FL 34655-4516
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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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