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

    7202 Massachusetts Ave New Port Richey, FL 34653-2934

    • Retail space
    • 1,384 SF
    • 0.94 lot acres
    OFF-MARKET
    Last Sale
    Jun 03, 2024
    $950,000
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0218313
    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

    • Violet's Pizzeria / Restaurant
    • Roscoe's Pizza / Restaurant
    • 0riginal Pizza NPR / Restaurant

    Property Details for 7202 Massachusetts Ave

    Year built
    2004
    Lot size
    0.94 lot acres
    Property size
    1,384 SF
    Zone code
    00C1
    Property type
    Retail space
    APN
    03-26-16-0060-00000-1580
    APU
    326160060000001580

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $950,000
      ML approach
      $950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $688,000
      Market price range: $159k - $688k

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.6952
    Latitude
    28.2583
    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
    $7,973
    $93,817
    $429,600
    $523,417
    -
    $93,817
    $429,600
    $523,417

    Comparable in this City

    • Value Estimation
      $2,605,000
      15,794 SF

      8718 Trouble Crk Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,794 SF
      8718 Trouble Crk Rd, New Port Richey, FL 34653-7012
      View Details
    • Value Estimation
      $1,970,000
      11,097 SF

      6507 Massachusetts Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,097 SF
      6507 Massachusetts Ave, New Port Richey, FL 34653-2731
      View Details
    • Value Estimation
      $2,810,000
      14,485 SF

      7325 State Rd 54

      RETAIL STORES (PERSONAL SERVICES) • 14,485 SF
      7325 State Rd 54, New Port Richey, FL 34653-6107
      View Details
    • Value Estimation
      $3,740,000
      14,972 SF

      7420 State Rd 54

      RETAIL STORES (PERSONAL SERVICES) • 14,972 SF
      7420 State Rd 54, New Port Richey, FL 34653-6110
      View Details
    • Value Estimation
      $1,885,000
      9,166 SF

      6445 Massachusetts Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,166 SF
      6445 Massachusetts Ave, New Port Richey, FL 34653-2541
      View Details
    • Value Estimation by Request
      2,160 SF

      6209 Massachusetts Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,160 SF
      6209 Massachusetts Ave, New Port Richey, FL 34653-2527
      View Details

    Similar Nearby for Sale

    • $1,950,000
      10,908 SF

      Freestanding Retail Building For Sale

      10,908 SF retail building with drive-thru capability and ample parking.
      6507 Massachusetts Ave, 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.
      8726 Old County Road 54, New Port Richey, FL 34653
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    • Contact for pricing
      21,136 SF

      High-Traffic Retail Center on FL-54

      Retail spaces in high-visibility center with recent renovations and improvements.
      7268 St Rd 54, New Port Richey, FL 34653
      View Details
    • Contact for pricing
      47.78 Acres

      Prime 47-Acre Development Land in Florida

      Mixed-use development site, ideal location.
      6405 State Road 54, New Port Richey, FL 34653
      View Details
    • Contact for pricing
      Pending

      Moon Lake Land Opportunity

      Raw land in Moon Lake, perfect for development or investment.
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    • $358,000
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      Prime New Port Richey Commercial Land

      .9-acre C2 zoned lot, high traffic area.
      0 Rowan Rd Little Deer Pkwy, New Port Richey, FL 34653
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      728 SF

      Retail Space on FL-54

      Retail space in high-traffic center with recent renovations.
      7254-7294 State Road 54, New Port Richey, FL 34653
      View Details
    • $111,160

      Retail Space with Planned Upgrades

      Retail space for lease with upcoming renovations and improvements.
      6219 Massachusetts Ave, New Port Richey, FL 34653
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    • $38,952

      Seven Springs Professional Center Unit

      End-cap unit in a high-visibility professional park available for lease.
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    • $15 SF/Yr
      2,550 SF

      New Port Richey Office/Retail Space

      1500 sq ft Office/Retail, Great TI Allowance
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    • $9 SF/Yr
      14,400 SF

      East Richey Square Retail Spaces

      Prime retail space, high traffic area.
      6504 Massachusetts Ave, New Port Richey, FL 34653
      View Details
    • 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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    7202 Massachusetts Ave
    New Port Richey, FL 34653-2934
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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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