Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5111 Floramar Ter New Port Richey, FL 34652-4600
    Back to Search
    Property profile & analytics

    5111 Floramar Ter, New Port Richey, FL 34652-4600

    View on Map
    • Distribution centers
    • 1,508 SF
    • 2.06 lot acres
    Off-Market
    Last Sale Mar 5, 2024
    $210,000
    Property ID
    US18-3502709
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Distribution centers

    Property Details for 5111 Floramar Ter

    Year built
    1980
    Lot size
    2.06 lot acres
    Zone code
    000C
    Property type
    Distribution centers
    APN
    17-26-16-0040-02200-0090
    APU
    1726160040022000090

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 5, 2024 — Abdulbari Azirovic JR Stefanie Azirovic Intrafamily Transfer · related —
    Mar 28, 2000 $210,000 Stefanie Azirovic Simic,branislav & Marga Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.7294
    Latitude
    28.2294
    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
    $5,588
    $131,463
    $92,751
    $224,214
    -
    $131,463
    $92,751
    $224,214

    Comparable in this City

    • Value Estimation
      $17,085,000
      135,857 SF

      4330 Us Hwy 19

      DISTRIBUTION WAREHOUSE
      4330 Us Hwy 19, New Port Richey, FL 34652-5441
      View Details
    • Value Estimation by Request
      1,932 SF

      5309 Lime St

      DISTRIBUTION WAREHOUSE
      5309 Lime St, New Port Richey, FL 34652-3733
      View Details
    • Value Estimation by Request
      1,800 SF

      5839 State Rd 54

      DISTRIBUTION WAREHOUSE
      5839 State Rd 54, New Port Richey, FL 34652-6023
      View Details
    • Value Estimation by Request
      3,420 SF

      5821 13th Ave

      DISTRIBUTION WAREHOUSE
      5821 13th Ave, New Port Richey, FL 34652-4743
      View Details
    • Value Estimation by Request
      2,815 SF

      5427 Crafts St

      DISTRIBUTION WAREHOUSE
      5427 Crafts St, New Port Richey, FL 34652-3962
      View Details
    • Value Estimation
      $1,065,000
      10,266 SF

      3544 Grand Blvd

      DISTRIBUTION WAREHOUSE
      3544 Grand Blvd, New Port Richey, FL 34652-6407
      View Details

    Similar Nearby for Sale

    • $145,000
      3,000 SF

      Turnkey Cabinet Business in Pasco

      Established custom cabinet business for sale in Pasco County, Florida.
      New Port Richey, FL 34652
      View Details
    • $349,000
      0.43 Acres

      Cleared Lot in New Port Richey

      Oversized cleared lot with water view in downtown New Port Richey.
      5649 Tidalwave Dr, New Port Richey, FL 34652
      View Details
    • Contact for pricing
      728 SF

      Affordable Condo in Gulf Harbors

      First-floor, one-bedroom condo in convenient Gulf Harbors location.
      4758 Jasper Dr, New Port Richey, FL 34652
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,118 SF

      New Port Richey Flex Space

      Flex space available for lease in New Port Richey, FL.
      4334 Grand Blvd, New Port Richey, FL 34652
      View Details
    • $14 SF/Yr
      4,820 SF

      Updated Office Space in Downtown

      Professional office space with residential apartment in New Port Richey.
      6232 Madison St, New Port Richey, FL 34652
      View Details
    • $14 SF/Yr
      1,033 SF

      New Port Richey Office Space

      Office space for lease in high-traffic New Port Richey location.
      5340 Gulf Dr, New Port Richey, FL 34652
      View Details
    • Contact for pricing

      New Port Richey Office Building

      Office building with excellent parking and high visibility signage.
      5347 Main St, New Port Richey, FL 34652
      View Details
    • $17 SF/Yr
      2,349 SF

      Retail Space on US Hwy 19

      Retail space with storefront and private bathroom near Publix.
      5118 Us Highway 19, New Port Richey, FL 34652
      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.
    5111 Floramar Ter
    New Port Richey, FL 34652-4600
    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

    Thank You for Inquiry
    5111 Floramar Ter, New Port Richey, FL, 34652
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!