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    6140 Congress St New Port Richey, FL 34653-3909
    Property profile & analytics

    6140 Congress St, New Port Richey, FL 34653-3909

    View on Map
    • Assisted living facilities
    • 24,889 SF
    • 2.21 lot acres
    Off-Market
    Last Sale Oct 18, 2022
    $12,417,391
    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.
    Value Estimations
    $12,500,000
    Show details
    Cap Rate Potential
    Location Intelligence

    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
    Zone code
    0MF2
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    04-26-16-0010-04100-0010
    APU
    426160010041000010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 3, 2025 — 6140 Congress St LLC — Deed · related $60M · Metropolitan Commercial Bank
    Oct 18, 2022 $12,417,391 6140 Congress St LLC Ohi Asset II Fl LLC Special Warranty Deed $28.1M · Popular Bank
    Feb 8, 2010 $4,092,285 Ohi Asset II Fl LLC Emerald-southern Pines INC Warranty Deed —

    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 estimation — 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

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      19,366 SF

      7220 Baillie Dr

      HOMES (RETIRED, NURSING)
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    • Value Estimation
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      5,976 SF

      6333 Langston Ave

      HOMES (RETIRED, NURSING)
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    • Value Estimation
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      6716 Congress St

      HOMES (RETIRED, NURSING)
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      HOMES (RETIRED, NURSING)
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    • Value Estimation
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      20,180 SF

      4927 Voorhees Rd

      HOMES (RETIRED, NURSING)
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    Similar Nearby for Sale

    • Contact for pricing
      22,049 SF

      Assisted Living Facility For Sale

      76-Bed Licensed Assisted Living Facility with Memory Care.
      7435 Plathe Rd, New Port Richey, FL 34653
      View Details
    • $1,898,000
      8,476 SF

      Medical/Mixed-Use Commercial Building For Sale

      Rare opportunity: mixed-use commercial building with multiple offices and ample parking.
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    • $199,900
      Pending

      Multi-Family Zoned Land Available

      One-acre multi-family zoned land near downtown New Port Richey.
      Indiana Ave, New Port Richey, FL 34653
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale in New Port Richey, Florida.
      Congress St, New Port Richey, FL 34653
      View Details
    • Contact for pricing
      4,995 SF

      High Visibility Retail/Medical Building

      Shell construction completed, ideal for retail or medical use.
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    • $199,000
      0.51 Acres

      Double Corner Lot in Florida

      Large multi-family zoned double corner lot in New Port Richey.
      6818 Congress St, New Port Richey, FL 34653
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    Similar Nearby for Lease

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      1,500 SF

      Retail Space in New Port Richey

      Retail space available for lease in New Port Richey.
      4216 St Lawrence Dr, New Port Richey, FL 34653
      View Details
    • Contact for pricing
      1,456 SF

      Retail Space on FL-54

      Retail space in high-traffic center with recent renovations.
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      View Details
    • Contact for pricing

      Retail Space on FL-54

      Retail spaces available in high-traffic, recently renovated center.
      7268 Fl-54, New Port Richey, FL 34653
      View Details
    • Contact for pricing

      Retail Space in New Port Richey

      Retail space available in neighborhood shopping center with frontage.
      6400 Massachusetts Ave, New Port Richey, FL 34653
      View Details
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    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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