5510 Riv Rd New Port Richey, FL 34652-3710

Property Details for 5510 Riv Rd

Year built

1974

Lot size

0.43 lot acres

Property size

9,800 SF

Zone code

0OFC

Property type

Office buildings

APN

08-26-16-0280-00800-0010

APU

826160280008000010

Description

This exceptional Class A executive office building, located at 5510 River Rd, New Port Richey, FL 34652, presents a compelling investment opportunity. The property, situated on a 0.43-acre lot in Pasco County, boasts 9,800 square feet of space, divided into 24 fully leased suites. Built in 1974 and extensively renovated in 2021, the two-story building features a new roof and AC units, along with updated flooring and fixtures throughout. The property's prime location, just off US-19, ensures high demand, as evidenced by a current waiting list for available space. Currently operating under a gross lease, the building generates a strong net operating income (NOI) of $108,967, resulting in an attractive 7.81% cap rate. The asking price is $1,395,500, translating to $142.40 per square foot. The property is zoned OFC and offers an excellent opportunity for a 1031 exchange. This turnkey investment provides immediate cash flow with the potential for future appreciation. The building's 100% occupancy rate underscores its desirability and strong tenant base. This is a rare opportunity to acquire a high-performing, well-maintained commercial property in a thriving location.

Location Insight

City

New Port Richey

County

Pasco

State

Florida

Longitude

-82.7259

Latitude

28.2391

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments