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    5623 Us Highway 19 New Port Richey, FL 34652
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    Property profile & analytics

    5623 Us Highway 19 New Port Richey, FL 34652

    View on Map
    • Office buildings
    • 31,447 SF
    • 1.21 lot acres
    For Lease
    $400,000 SF/Yr
    View Listing →
    Retail Space on US-19 For Lease
    $400,000 SF/Yr
    1,000 SF

    Retail Space on US-19

    Retail space with high traffic and 24/7 access.

    5623 Us Highway 19, New Port Richey, FL 34652
    View Listing
    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.
    Value Estimations
    $2,185,000
    Cap Rate Potential
    Location Intelligence

    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 estimation — 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 by Request
      1,350 SF

      5036 Trouble Crk Rd

      OFFICE BUILDING • 1,350 SF
      5036 Trouble Crk Rd, New Port Richey, FL 34652-4904
      View Details
    • Value Estimation by Request
      4,760 SF

      5612 Grand Blvd

      PROFESSIONAL BUILDING (MULTI-STORY) • 4,760 SF
      5612 Grand Blvd, New Port Richey, FL 34652-3811
      View Details
    • Value Estimation by Request
      1,064 SF

      5308 Balsam St

      OFFICE BUILDING • 1,064 SF
      5308 Balsam St, New Port Richey, FL 34652-3737
      View Details
    • Value Estimation by Request
      1,276 SF

      6337 Grand Blvd

      OFFICE BUILDING • 1,276 SF
      6337 Grand Blvd, New Port Richey, FL 34652-2312
      View Details
    • Value Estimation
      $615,000
      6,200 SF

      6323 Grand Blvd

      OFFICE BUILDING • 6,200 SF
      6323 Grand Blvd, New Port Richey, FL 34652-2312
      View Details
    • Value Estimation by Request
      3,536 SF

      5424 Grand Blvd

      OFFICE BUILDING (MULTI-STORY) • 3,536 SF
      5424 Grand Blvd, New Port Richey, FL 34652-4008
      View Details

    Similar Nearby for Sale

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    • $595,000

      Downtown Office Building For Sale

      1,900 SF professional office building in booming downtown.
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    • $699,000
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      Office Building on US HWY

      Office building on 0.5 acres with highway frontage.
      7419 Us Highway 19, New Port Richey, FL 34652
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    • $875,000
      Pending

      Revitalized Downtown New Port Richey Office

      2300+ sq ft office building in prime downtown location.
      5801 Main St, New Port Richey, FL 34652
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    • $349,000

      New Port Richey Land Opportunity

      1.61 acre land parcel zoned for medical office use.
      5421 Gulf Dr, New Port Richey, FL 34652
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    Similar Nearby for Lease

    • Contact for pricing

      New Port Richey Office Building

      Office building with excellent parking and high visibility signage.
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    • $14 SF/Yr
      4,820 SF

      Updated Office Space in Downtown

      Professional office space with residential apartment in New Port Richey.
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    • $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
    • $46,800
      1,350 SF

      Medical/Office Space For Rent

      Medical/office space available for lease in a medical complex.
      5341 Grand Blvd, New Port Richey, FL 34652
      View Details
    View Listing
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    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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    5623 Us Highway 19, New Port Richey, FL, 34652
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