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Property profile & analytics
OFF-MARKET
Estimated value
$2,820,000
Office buildings
5652 Meadowlane St, New Port Richey, FL 34652-4005
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-5146651
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1993
Total area
22,106 SF
Lot
0.34 ac (15,000 SF)
Zoning code
0PMF
APN
08-26-16-0240-00100-0090
UPID
US18-5146651
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Raymond J. Behar, MD Physician Medical Clinic
-
Bayonet Plumbing, Heating & Air Conditioning Hardware & Home Improvement HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.82M
CAP Approach
CAP
$2.45M
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$2.82M
Owner & transaction history
Robert N Blankenship · 3 yrs held
Robert N Blankenship
since 2023
Last sale
$2.8M
1 recorded transaction
Zoning & alternative use
0PMF · New Port Richey, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.7M
+46.3%
Medical building
$4.3M
+34.0%
Commercial (general)
$4.0M
+24.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Port Richey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Port Richey submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,870,000
ML approach
$2,815,000
CAP Approach
CAP Return
Estimation
6%
$2,650,000
6.5%
$2,450,000
7%
$2,275,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,205,000
Current use
RETAIL STORES
$4,685,000
Change: +46% · Conversion: Moderate
MEDICAL BUILDING
$4,295,000
Change: +34% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,970,000
Change: +24% · Conversion: Easy
WAREHOUSE, STORAGE
$3,060,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$2.82M
Range $2.54M – $3.10M · ±10% · vs last sale $2.75M (Jun 19 2023)
Last sale anchor
$2.75M
Jun 19 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$128 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,379
Tax year 2023
Assessed value
$1,803,389
Assessed 2023
Previous assessed
$1,136,673
+58.7% YoY
Effective rate
1.96%
On assessed value
Assessed land
$44,950
Assessed improvement
$1,758,439
Land market value
$44,950
Improvement market value
$1,758,439
Total market value
$1,803,389
Applied tax rate
60.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1993
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Units
977
Bathrooms
7
Total area
22,106 SF
Lot
0.34 ac (15,000 SF)
Zoning code
0PMF
APN
08-26-16-0240-00100-0090
UPID
US18-5146651
Jurisdiction
PASCO
Zoning & alternative use
0PMF · New Port Richey, FL
Zoning 0PMF · permitted uses
0PMF · New Port Richey, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Port Richey. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.2M
RETAIL STORES
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$4.0M
WAREHOUSE, STORAGE
Est. value
$3.1M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1993
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
977
Bathrooms
7
Lot
0.34 ac
Current owner
From public records · entity-resolved
Robert N Blankenship
Individual
Mailing address
9311 STAR TRL, NEW PORT RICHEY, FL 34654-2545
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2023
$2,750,000
Robert N Blankenship
Doyle Farm Family Limited Partnersh
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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