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

    6233 Rdg Rd Port Richey, FL 34668-6743

    • Office buildings
    • 1,500 SF
    • 0.83 lot acres
    OFF-MARKET
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    4%
    Office buildings
    Location Intelligence
    Property ID
    US18-2749075
    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

    • Palm Medical Centers - Port Richey / General Practitioner
    • Saurinkumar Shah, MD Palm Primary Care - Port Richey / Medical Clinic / Medical Office
    • Maria Tommolino, MSN, APRN, FNP-C Palm Primary Care - Port Richey / Medical Clinic / Medical Office

    Property Details for 6233 Rdg Rd

    Year built
    1981
    Lot size
    0.83 lot acres
    Property size
    1,500 SF
    Zone code
    00C2
    Property type
    Office buildings
    APN
    28-25-16-0100-00000-0202
    APU
    2825160100000000202

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $180,000
      6.5%
      $165,000
      7%
      $155,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $237,000
      Market price range: $88.2k - $238k
      AI Estimate
      $228,000
      Market price range: $66.0k - $229k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $165,000
      Current use
      MEDICAL BUILDING
      $325,000
      Change: +94% Conversion: Easy
      RETAIL STORES
      $310,000
      Change: +85% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $250,000
      Change: +49% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.7113
    Latitude
    28.2809
    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
    $5,415
    $130,570
    $123,897
    $254,467
    -
    $130,570
    $123,897
    $254,467

    Comparable in this City

    • Value Estimation
      $210,000
      4,189 SF

      6541 Orchid Lk Rd

      OFFICE BUILDING • 4,189 SF
      6541 Orchid Lk Rd, Port Richey, FL 34668
      View Details
    • Value Estimation
      $475,000
      14,814 SF

      11031 Us Hwy 19

      OFFICE BUILDING • 14,814 SF
      11031 Us Hwy 19, Port Richey, FL 34668-2248
      View Details
    • Value Estimation
      $590,000
      3,930 SF

      7914 Us Hwy 19

      OFFICE BUILDING (MULTI-STORY) • 3,930 SF
      7914 Us Hwy 19, Port Richey, FL 34668-6359
      View Details
    • Value Estimation
      $870,000
      29,051 SF

      11321 Us Hwy 19

      OFFICE BUILDING • 29,051 SF
      11321 Us Hwy 19, Port Richey, FL 34668-1416
      View Details
    • Value Estimation
      $260,000
      6,480 SF

      7920 Us Hwy 19

      OFFICE BUILDING • 6,480 SF
      7920 Us Hwy 19, Port Richey, FL 34668-6633
      View Details
    • Value Estimation
      $355,000
      6,600 SF

      6740 Commerce Ave

      OFFICE BUILDING • 6,600 SF
      6740 Commerce Ave, Port Richey, FL 34668-6814
      View Details

    Similar Nearby for Sale

    • $575,000
      2,160 SF

      Port Richey Office Space Available

      Office space for sale in Port Richey, Florida.
      8106 Pasco Way, Port Richey, FL 34668
      View Details
    • $349,999
      2,080 SF

      Remodeled Office Building on Ridge Road

      Affordable commercial office with flexible layout and new roof.
      6609 Ridge Rd, Port Richey, FL 34668
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    • $349,999
      2,080 SF

      Remodeled Office Building on Ridge Road

      Affordable commercial office space with flexible layout and new roof.
      6609 Ridge Rd, Port Richey, FL 34668
      View Details
    • $649,900
      4,096 SF

      Port Richey Office Complex

      Two buildings, high-traffic location.
      9743 Prt Richey, 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
    • $1,500,000
      2.82 Acres

      Port Richey Class A Development Site

      Shovel-ready, 540-unit self-storage land
      7728 Ridge Rd, Port Richey, FL 34668
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      330,636 SF

      Embassy Crossing Office Suites

      Port Richey, FL Office Space Available
      9550 Us Highway 19, Port Richey, FL 34668
      View Details
    • $14 SF/Yr
      8,557 SF

      Port Richey Office Space For Lease

      Executive Suites & Coworking Available
      9108 Us Highway 19, Port Richey, FL 34668
      View Details
    • $78,975

      Professional Office Space Available

      5,265 SF office space in a thriving business district.
      8208 Us Highway 19, Port Richey, FL 34668
      View Details
    • $15 SF/Yr
      5,265 SF

      Port Richey Medical Office Building

      Single-tenant office, 5,265 sq ft, fully vacant
      8208 Washington St, Port Richey, FL 34668
      View Details
    • $67,680

      Port Richey Office with Warehouse

      7,200 sq ft office space with warehouse access.
      6736 Commerce Ave, Port Richey, FL 34668
      View Details
    • $12,000 /Mo

      Office Space with High Visibility

      Office space near Lane Glo North Bowling Alley for rent.
      6935 Ridge Rd, Port Richey, FL 34668
      View Details
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    6233 Rdg Rd
    Port Richey, FL 34668-6743
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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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