Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3290 Word Way New Port Richey, FL

    • Drive through restaurants
    • 2,583 SF
    • 0.77 lot acres
    For Lease
    View listing
    Value Estimations
    $525,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7138285
    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

    • Drive through restaurants

    Property Details for 3290 Word Way

    Year built
    2021
    Lot size
    0.77 lot acres
    Property size
    2,583 SF
    Zone code
    MPUD
    Property type
    Drive through restaurants
    APN
    23-26-16-0010-00000-0050
    APU
    2326160010000000050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $548,000
      Market price range: $225k - $548k

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.6674
    Latitude
    28.2053
    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
    $21,823
    $849,918
    $395,645
    $1,245,563
    -
    $849,918
    $395,645
    $1,245,563

    Comparable in this City

    • Value Estimation
      $630,000
      3,853 SF

      9040 State Rd 54

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,853 SF
      9040 State Rd 54, New Port Richey, FL 34655-1812
      View Details
    • Value Estimation
      $535,000
      2,652 SF

      10795 State Rd 54

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,652 SF
      10795 State Rd 54, New Port Richey, FL 34655-2320
      View Details
    • Value Estimation
      $535,000
      4,450 SF

      8937 Rancho Del Rio Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,450 SF
      8937 Rancho Del Rio Dr, New Port Richey, FL 34655-5227
      View Details
    • Value Estimation
      $665,000
      4,365 SF

      10727 State Rd 54

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,365 SF
      10727 State Rd 54, New Port Richey, FL 34655-2320
      View Details
    • Value Estimation
      $540,000
      2,846 SF

      3154 Disciple Ln

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,846 SF
      3154 Disciple Ln, New Port Richey, FL 34655-4234
      View Details
    • Value Estimation by Request
      1,951 SF

      5220 Little Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,951 SF
      5220 Little Rd, New Port Richey, FL 34655-1213
      View Details

    Similar Nearby for Sale

    • $3,364,000
      1,750 SF

      Starbucks Corporate Lease Investment Opportunity

      Corporate leased Starbucks with rental increases and multiple renewal options.
      5220 Little Rd, New Port Richey, FL 34655
      View Details
    • $5,354,000
      15,120 SF

      Walgreens Retail Investment Opportunity

      High-Yield NNN Lease, Florida
      7420 Fl-54, New Port Richey, FL 34655
      View Details
    • $149,900
      0.27 Acres

      Champions Club Homesite Opportunity

      Build your dream home in the exclusive Champions Club community.
      10610 Sabella Dr, Trinity, 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
      View Details
    • $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

    • Contact for pricing

      Freestanding QSR Building with Drive-Thru

      Freestanding 2,779 SF QSR building with drive-thru for lease.
      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
    • $40 SF/Yr
      900 SF

      Retail Space in Power Center

      Retail space available in a busy, anchored shopping center.
      3100-3234 Little Rd, New Port Richey, FL 34655
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space in Publix-Anchored Center

      Retail space available in a Publix-anchored community center.
      1252-1414 Seven Springs Blvd, New Port Richey, FL 34655
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Publix-Anchored Center

      Retail space available in a Publix-anchored shopping center.
      5300-5400 Little Rd, New Port Richey, FL 34655
      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.
    3290 Word Way
    New Port Richey, FL
    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

    Google sign-in failed. Please try again or use another login method.