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

    5623 Us Highway 19 New Port Richey, FL 34652

    • Office buildings
    • 31,447 SF
    • 1.21 lot acres
    For Lease
    View listing
    $400,000
    Last Sale
    May 12, 2025
    $1,675,000
    Value Estimations
    $2,185,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3370694
    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

    • Office buildings

    Property Details for 5623 Us Highway 19

    Year built
    1974
    Lot size
    1.21 lot acres
    Property size
    31,447 SF
    Zone code
    000C
    Property type
    Office buildings
    APN
    08-26-16-0010-03200-0060
    APU
    826160010032000060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,235,000
      ML approach
      $2,195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,944,000
      Market price range: $2.94M - $5.80M
      AI Estimate
      $2,371,000
      Market price range: $2.37M - $6.04M

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.7285
    Latitude
    28.241
    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
    $33,358
    $399,025
    $930,574
    $1,329,599
    -
    $399,025
    $930,574
    $1,329,599

    Comparable in this City

    • Value Estimation
      $610,000
      4,279 SF

      6131 Us Hwy 19

      OFFICE BUILDING • 4,279 SF
      6131 Us Hwy 19, New Port Richey, FL 34652-2527
      View Details
    • Value Estimation
      $835,000
      6,524 SF

      5602 Gulf Dr

      OFFICE BUILDING (MULTI-STORY) • 6,524 SF
      5602 Gulf Dr, New Port Richey, FL 34652
      View Details
    • Value Estimation by Request
      3,660 SF

      5441 James St

      OFFICE BUILDING (MULTI-STORY) • 3,660 SF
      5441 James St, New Port Richey, FL 34652-3927
      View Details
    • Value Estimation by Request
      2,940 SF

      5308 Linder Pl

      OFFICE BUILDING • 2,940 SF
      5308 Linder Pl, New Port Richey, FL 34652-3734
      View Details
    • Value Estimation
      $975,000
      3,675 SF

      6906 Madison St

      OFFICE BUILDING (MULTI-STORY) • 3,675 SF
      6906 Madison St, New Port Richey, FL 34652-1902
      View Details
    • Value Estimation by Request
      1,368 SF

      5831 Main St

      OFFICE BUILDING • 1,368 SF
      5831 Main St, New Port Richey, FL 34652-2713
      View Details

    Similar Nearby for Sale

    • $925,000
      2,373 SF

      Revitalized Downtown New Port Richey Office

      2300+ sq ft office building in prime downtown location.
      5801 Main St, New Port Richey, FL 34652
      View Details
    • $389,000

      New Port Richey Office Building

      2,920 SF professional office building in New Port Richey, FL.
      5427 Water St, New Port Richey, FL 34652
      View Details
    • $1,337,158
      4,324 SF

      New Port Richey Medical Office

      Long-term leased medical office in New Port Richey, Florida.
      5305 Grand Blvd, New Port Richey, FL 34652
      View Details
    • $699,000
      3,660 SF

      Office Space on US Highway

      Office property for sale on US Highway 19.
      7419 Us Highway 19, New Port Richey, FL 34652
      View Details
    • $429,000
      2,920 SF

      New Port Richey Office Building

      2,920 SF professional office building in New Port Richey, FL.
      5427 Water St, New Port Richey, FL 34652
      View Details
    • $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
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,000 SF

      Chelsea Plaza Office Suites

      Prime New Port Richey Office Space
      5609 Us Highway 19, New Port Richey, FL 34652
      View Details
    • $15 SF/Yr
      18,384 SF

      Main Street Medical Office Space

      Prime New Port Richey Medical Office Suites
      5347 Main St, 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
    • $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
    • $2,400 /Mo
      1,398 SF

      Downtown New Port Richey Office

      Office space for lease in downtown New Port Richey.
      5845 Main St, New Port Richey, FL 34652
      View Details
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    5623 Us Highway 19
    New Port Richey, FL 34652
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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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