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    Property profile & analytics

    6140 Congress St New Port Richey, FL 34653-3909

    • Assisted living facilities
    • 24,889 SF
    • 2.21 lot acres
    OFF-MARKET
    Last Sale
    Oct 18, 2022
    $12,417,391
    Value Estimations
    $12,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2429951
    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

    • Southern Pines Nursing Center / Nursing Home
    • Key Communications / Advertising Agency / Marketing & Advertising

    Property Details for 6140 Congress St

    Year built
    1973
    Lot size
    2.21 lot acres
    Property size
    24,889 SF
    Zone code
    0MF2
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    04-26-16-0010-04100-0010
    APU
    426160010041000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $15,865,000
      ML approach
      $9,305,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $12,600,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.7067
    Latitude
    28.2485
    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
    $33,826
    $312,702
    $1,006,971
    $1,319,673
    -
    $312,702
    $1,006,971
    $1,319,673

    Comparable in this City

    • Value Estimation
      $775,000
      13,085 SF

      8149 Treelet Ct

      HOMES (RETIRED, NURSING) • 13,085 SF
      8149 Treelet Ct, New Port Richey, FL 34653-2438
      View Details
    • Value Estimation
      $2,015,000
      67,835 SF

      6120 Congress St

      HOMES (RETIRED, NURSING) • 67,835 SF
      6120 Congress St, New Port Richey, FL 34653-3909
      View Details
    • Value Estimation
      $685,000
      4,394 SF

      6343 Rowan Rd

      HOMES (RETIRED, NURSING) • 4,394 SF
      6343 Rowan Rd, New Port Richey, FL 34653-3402
      View Details
    • Value Estimation by Request
      5,873 SF

      7114 Congress St

      HOMES (RETIRED, NURSING) • 5,873 SF
      7114 Congress St, New Port Richey, FL 34653-1841
      View Details
    • Value Estimation
      $3,780,000
      27,461 SF

      6801 Rowan Rd

      HOMES (RETIRED, NURSING) • 27,461 SF
      6801 Rowan Rd, New Port Richey, FL 34653-2952
      View Details
    • Value Estimation
      $1,740,000
      29,204 SF

      6400 Trouble Crk Rd

      HOMES (RETIRED, NURSING) • 29,204 SF
      6400 Trouble Crk Rd, New Port Richey, FL 34653-5248
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,136 SF

      High-Traffic Retail Center on FL-54

      Retail spaces in high-visibility center with recent renovations and improvements.
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      47.78 Acres

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      Mixed-use development site, ideal location.
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      Pending

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      Raw land in Moon Lake, perfect for development or investment.
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      10,908 SF

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      10,908 SF retail building with drive-thru capability and ample parking.
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      Land For Sale

      Land available for sale in New Port Richey, Florida.
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    • $220,000
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    Similar Nearby for Lease

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      1500 sq ft Office/Retail, Great TI Allowance
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      1,500 SF

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      1,500 SF medical office space for lease.
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      Retail Space with Planned Upgrades

      Retail space for lease with upcoming renovations and improvements.
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    • Contact for pricing
      18,281 SF

      Retail Space in New Port Richey

      Community shopping center at a bustling intersection in Pasco County.
      7115-7305 State Road 54, New Port Richey, FL 34653
      View Details
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    6140 Congress St
    New Port Richey, FL 34653-3909
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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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