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

    3508 Grand Blvd New Port Richey, FL 34652-6407

    • Grocery and convenience stores
    • 2,600 SF
    • 0.93 lot acres
    OFF-MARKET
    Last Sale
    Jan 15, 2020
    $650,000
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    2.9%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US18-5355372
    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

    • Grocery and convenience stores

    Property Details for 3508 Grand Blvd

    Year built
    1986
    Lot size
    0.93 lot acres
    Property size
    2,600 SF
    Zone code
    00C2
    Property type
    Grocery and convenience stores
    APN
    20-26-16-0000-02500-0022
    APU
    2026160000025000022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $985,000
      ML approach
      $965,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $480,000
      6.5%
      $445,000
      7%
      $415,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $995,000
      Market price range: $589k - $2.55M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $535,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.7231
    Latitude
    28.2102
    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
    $6,668
    $224,600
    $131,730
    $356,330
    -
    $224,600
    $131,730
    $356,330

    Comparable in this City

    • Value Estimation
      $6,650,000
      44,065 SF

      4032 Madison St

      GROCERY, SUPERMARKET • 44,065 SF
      4032 Madison St, New Port Richey, FL 34652-6029
      View Details
    • Value Estimation by Request
      2,016 SF

      4512 Grand Blvd

      CONVENIENCE STORE • 2,016 SF
      4512 Grand Blvd, New Port Richey, FL 34652-5119
      View Details
    • Value Estimation
      $685,000
      3,556 SF

      5523 State Rd 54

      CONVENIENCE STORE • 3,556 SF
      5523 State Rd 54, New Port Richey, FL 34652-6018
      View Details
    • Value Estimation by Request
      1,616 SF

      7529 Us Hwy 19

      CONVENIENCE STORE • 1,616 SF
      7529 Us Hwy 19, New Port Richey, FL 34652-1242
      View Details
    • Value Estimation by Request
      754 SF

      4449 Grand Blvd

      CONVENIENCE STORE • 754 SF
      4449 Grand Blvd, New Port Richey, FL 34652-5403
      View Details
    • Value Estimation
      $685,000
      2,100 SF

      5000 State Rd 54

      CONVENIENCE STORE • 2,100 SF
      5000 State Rd 54, New Port Richey, FL 34652-5908
      View Details

    Similar Nearby for Sale

    • $289,000

      Retail and Living Space Available

      Functional salon with rentable space in a high-traffic location.
      5124 Trouble Creek Rd, New Port Richey, FL 34652
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    • $2,700,000
      3,258 SF

      Retail Property on Highway 19

      Retail space with long-term tenant and high traffic location.
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    • $4,750,000
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      US Hwy 19 Retail Redevelopment

      5.4 Acres, High-Traffic Location, Cash Flow
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    • $189,000
      2,614 SF

      Turnkey Restaurant in New Port Richey

      Fully equipped 82-seat restaurant in downtown New Port Richey, Florida.
      5414 Main St, New Port Richey, FL 34652
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    • $1,200,000

      Freestanding Office/Retail Building on US-19

      Freestanding office/retail building with high traffic and flexible commercial uses.
      7212 Us Highway 19, New Port Richey, FL 34652
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    • $3,420,000
      3,869 SF

      Denny's Restaurant Investment

      Florida Franchise, Strong ROI
      4442 Us Highway 19, New Port Richey, FL 34652
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    Similar Nearby for Lease

    • Contact for pricing
      1,480 SF

      Downtown Retail Space For Rent

      Ground-floor retail space in Downtown New Port Richey, Florida.
      5346-5354 Main St, New Port Richey, FL 34652
      View Details
    • $1,900 /Mo
      1,575 SF

      Corner Commercial Building For Lease

      1,575 SF commercial building for lease in high-traffic location.
      5440 James St, New Port Richey, FL 34652
      View Details
    • $2,511 /Mo
      19,698 SF

      Retail Space on US Highway

      Retail space with private rooms and multiple entrances available for rent.
      5124 Us Highway 19, New Port Richey, FL 34652
      View Details
    • $3,034 /Mo
      2,349 SF

      Retail Space on US Hwy 19

      Retail storefront across from Publix with ample parking.
      5118 Us Highway 19, New Port Richey, FL 34652
      View Details
    • $400,000

      High-Traffic Location on US-19

      Retail and office spaces with high visibility and ample parking.
      5623 Us-19 Hwy N, New Port Richey, FL 34652
      View Details
    • $15 SF/Yr
      5,800 SF

      Frontier Plaza - Downtown New Port Richey

      Office Properties & Spaces • 5,800 SF
      6508 Us Highway 19, New Port Richey, FL 34652
      View Details
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    3508 Grand Blvd
    New Port Richey, FL 34652-6407
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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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