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

    6123 Ridge Rd Port Richey, FL 34668

    • Retail space
    • 7,116 SF
    • 0.50 lot acres
    For Sale
    View listing
    $1,990,000
    Last Sale
    Jul 08, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0356473
    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

    • Cottee Investments Group / Investment Service
    • Firing Line Gun Range / Firearms Academy / Gun Shop

    Property Details for 6123 Ridge Rd

    Year built
    1977
    Lot size
    0.50 lot acres
    Property size
    7,116 SF
    Zone code
    00C2
    Property type
    Retail space
    APN
    28-25-16-0100-00000-0160
    APU
    2825160100000000160

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $340,000
      Market price range: $341k - $1.31M

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.7131
    Latitude
    28.2808
    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
    $4,774
    $70,684
    $153,659
    $224,343
    -
    $70,684
    $153,659
    $224,343

    Comparable in this City

    • Value Estimation
      $430,000
      7,062 SF

      10110 Us Hwy 19

      RETAIL STORES (PERSONAL SERVICES) • 7,062 SF
      10110 Us Hwy 19, Port Richey, FL 34668-3743
      View Details
    • Value Estimation
      $705,000
      4,979 SF

      7940 Us Hwy 19

      RETAIL STORES (PERSONAL SERVICES) • 4,979 SF
      7940 Us Hwy 19, Port Richey, FL 34668-6633
      View Details
    • Value Estimation
      $430,000
      6,500 SF

      8597 Us Hwy 19

      RETAIL STORES (PERSONAL SERVICES) • 6,500 SF
      8597 Us Hwy 19, Port Richey, FL 34668
      View Details
    • Value Estimation
      $255,000
      3,543 SF

      10414 Us Hwy 19

      RETAIL STORES (PERSONAL SERVICES) • 3,543 SF
      10414 Us Hwy 19, Port Richey, FL 34668-3110
      View Details
    • Value Estimation
      $275,000
      1,120 SF

      11640 Us Hwy 19

      RETAIL STORES (PERSONAL SERVICES) • 1,120 SF
      11640 Us Hwy 19, Port Richey, FL 34668-1444
      View Details
    • Value Estimation
      $250,000
      1,044 SF

      8111 Us Hwy 19

      RETAIL STORES (PERSONAL SERVICES) • 1,044 SF
      8111 Us Hwy 19, Port Richey, FL 34668-6637
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,215 SF

      Former Bank Branch with Drive-Thru

      6,215 SF former bank branch on a hard corner.
      10290 Regency Park Blvd, Port Richey, FL 34668
      View Details
    • $1,600,000
      3,570 SF

      Port Richey Auto Shop - $1.6M

      Turn-key auto shop, high NOI, excellent location.
      6826 Ridge Rd, Port Richey, FL 34668
      View Details
    • $510,000
      2,292 SF

      Prime Commercial Site on US-19

      Multi-building commercial site with high traffic and flexible zoning.
      8830 Us-19, Port Richey, FL 34668
      View Details
    • $1,990,000
      7,116 SF

      Turnkey Gun Range & Retail

      Established gun range and retail storefront in Pasco County.
      6123 Ridge Rd, Port Richey, FL 34668
      View Details
    • Contact for pricing
      15,369 SF

      Freestanding Building on US Highway

      Freestanding 15,369 SF building on 1.64 AC for sale.
      9332 Us Highway 19, Port Richey, FL 34668
      View Details
    • $375,000
      1,860 SF

      Port Richey Warehouse with Showroom

      Well-maintained warehouse with showroom, ideal for kitchen/bath remodel business.
      10120 Ridgeway Dr, Port Richey, FL 34668
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,867 SF

      Retail Space in Port Richey

      Retail space available in a busy Port Richey shopping center.
      8633-8647 Regency Park Blvd, Port Richey, FL 34668
      View Details
    • Contact for pricing
      750 SF

      Retail Space with High Visibility

      Retail space with high traffic, easy access, and ample parking.
      6420 Ridge Rd, Port Richey, FL 34668
      View Details
    • $7 SF/Yr
      600 SF

      Retail Space on U.S. Highway

      Newly renovated retail space with high visibility and easy access.
      10604-10622 Devco Dr, Port Richey, FL 34668
      View Details
    • $17 SF/Yr
      17,786 SF

      Port Richey Retail Space Available

      2,700 SF unit with office and general space.
      7006 Ridge Rd, Port Richey, FL 34668
      View Details
    • $2,500 /Mo
      5,000 SF

      Versatile Commercial Space in Port Richey

      Customizable commercial space with high visibility and buildout incentives.
      8836 Us Highway 19, Port Richey, FL 34668
      View Details
    • Contact for pricing
      3,296 SF

      Retail Space in Tempo Plaza

      Retail space available in Port Richey's Tempo Plaza.
      9304-9324 N St N, Port Richey, FL 34668
      View Details
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    6123 Ridge Rd
    Port Richey, FL 34668
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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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