5305 Grand Blvd New Port Richey, FL 34652
Property profile & analytics
5305 Grand Blvd New Port Richey, FL 34652
- Medical Office Space
- 4,344 SF
- 0.74 lot acres
Property ID
US18-4632465
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.
Location Intelligence
Current Use by Public Records
- Dr. Alicia Havens / Physician
- John Williams / Physician
Property Details for 5305 Grand Blvd
- Year built
- 1981
- Lot size
- 0.74 lot acres
- Property size
- 4,344 SF
- Zone code
- 0PMF
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 08-26-16-0260-00800-0000
- APU
- 826160260008000000
Description
This exceptional investment opportunity presents a 4,324 square foot medical office building in New Port Richey, Florida, currently 100% occupied by an established eye clinic under a 15-year absolute triple-net (NNN) lease. The property, located at 5305 Grand Blvd, boasts a strong 7.25% cap rate and a substantial net operating income (NOI) of $134,044. The lease includes 2.5% annual rent increases, ensuring consistent income growth. The tenant, a well-established eye clinic with over 20 years of operation, provides a wide range of services including cataract, glaucoma, and laser eye surgery, along with other specialized procedures. Situated in a high-traffic area with over 60,000 vehicles passing daily, the property benefits from a large consumer base within a 3-mile radius, exceeding 83,000 residents with an average household income of $60,100. The lease features four, five-year renewal options, providing long-term stability and significant return on investment. The asking price is $1,848,883, translating to a price per square foot of $427.59. This sale-leaseback offers a secure, passive income stream with built-in growth potential in a thriving Florida market. The property is located within the Tampa MSA, a rapidly growing metropolitan area.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- New Port Richey
- County
- Pasco
- State
- Florida
- Longitude
- -82.723
- Latitude
- 28.2359
- 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
$6,389
$84,625
$159,652
$244,277
-
$84,625
$159,652
$244,277
