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

    7311 Little Rd New Port Richey, FL 34654

    • Commercial real estate
    • 1,480 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1326853
    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

    • New Age Towing / Towing Service

    Property Details for 7311 Little Rd

    Lot size
    0.24 lot acres
    Property size
    1,480 SF
    Property type
    Commercial real estate

    Description

    This vacant, 1,264-square-foot Class C office building in New Port Richey, Florida, presents a unique opportunity for owner-users or redevelopment. Located at 7311 Little Road, this property boasts 1,480 total square feet on a 0.24-acre lot, including a finished screened porch and open porch. The interior features two private offices, a conference/media room, a large reception/work area, a kitchen, and two bathrooms. Recent renovations (2023) include a new HVAC system, dimming LED lighting, new windows and doors, and hurricane shutters. The building is wired for a multi-line commercial phone system (phones available) and has an alarm system. The property benefits from high visibility on Little Road, with an average daily traffic count of 39,000 vehicles, according to FDOT data. Its strategic location offers close proximity to Pasco County government buildings, a new VA hospital, and a proposed 3,400-home master-planned community. The asking price is $340,000 ($229.73/sq ft). The permitted zoning is R4, Commercial FLU. Ample customer parking is available. There's potential for assemblage with an adjacent property for larger-scale redevelopment. Some final finishings are negotiable. A video tour is available online.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.674519648832
    Latitude
    28.26340579648

    Comparable in this City

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      Adaptable Commercial Property on Little Road

      Highly visible and accessible commercial property with flexible layout.
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    Similar Nearby for Sale

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      Versatile Commercial Property on Little Road

      Adaptable commercial property with high visibility and multiple potential uses.
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      Prime New Port Richey Mixed-Use

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      New Construction Heartland Dental Outparcel

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    • $899,000
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      Ridge Road Office Space

      Office property for sale on Ridge Road.
      8821 Ridge Rd, New Port Richey, FL 34654
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    • $599,988
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      Adaptable Commercial Property on Little Road

      Highly visible and accessible commercial property with flexible layout.
      10129 Little Rd, New Port Richey, FL 34654
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    • $30,500
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      Residential Land in Citrus Springs

      Level lot in quiet neighborhood, build your dream home.
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    Similar Nearby for Lease

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      Retail Space on Little Road

      Retail space available in high-traffic New Port Richey shopping center.
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      Retail Space in New Port Richey

      Neighborhood center with restaurant outparcel available for lease.
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    New Port Richey, FL 34654
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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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