Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7424 Rdg Rd Port Richey, FL 34668-6944

    • Retail properties
    • 3,057 SF
    • 0.69 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2023
    $600,000
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0867490
    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

    • Shineology Car Wash / Car Wash

    Property Details for 7424 Rdg Rd

    Year built
    2005
    Lot size
    0.69 lot acres
    Property size
    3,057 SF
    Zone code
    00C2
    Property type
    Retail properties
    APN
    27-25-16-0010-02700-0030
    APU
    2725160010027000030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $610,000
      ML approach
      $630,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $607,000
      Market price range: $381k - $902k
      AI Estimate
      $443,000
      Market price range: $225k - $573k

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $550,000
      Current use
      MEDICAL BUILDING
      $660,000
      Change: +20% Conversion: Difficult
      RETAIL STORES
      $630,000
      Change: +15% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $505,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.6919
    Latitude
    28.2799
    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
    $6,581
    $146,332
    $230,420
    $376,752
    -
    $146,332
    $230,420
    $376,752

    Comparable in this City

    • Value Estimation by Request

      11031 Us-19

      Medical offices
      11031 Us-19, Port Richey, FL 34668
      View Details
    • Value Estimation by Request
      3,168 SF

      9203 Us-19

      Restaurants • 3,168 SF
      9203 Us-19, Port Richey, FL 34668
      View Details
    • Value Estimation by Request
      10,790 SF

      9037 Us-19

      Restaurants • 10,790 SF
      9037 Us-19, Port Richey, FL 34668
      View Details
    • Value Estimation by Request

      11836 Us-19

      Restaurants
      11836 Us-19, Port Richey, FL 34668
      View Details
    • Value Estimation by Request

      Ridge Rd Strip Center - 9,600sf Unit

      2nd-Generation Retail Space available
      7008 Ridge Road | Port Richey, FL 34668, Port Richey, FL 34668
      View Details
    • Value Estimation by Request
      1,800 SF

      6302 Rdg Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,800 SF
      6302 Rdg Rd, Port Richey, FL 34668-6744
      View Details

    Similar Nearby for Sale

    • $1,100,000
      1 SF

      US-19 QSR/Fast Food Opportunity

      Prime Port Richey location, redevelopment potential.
      11542 Us Highway 19, Port Richey, FL 34668
      View Details
    • $1,600,000
      3,570 SF

      Port Richey Auto Shop - $1.6M

      Turn-key auto shop, high NOI, excellent location.
      6826 Ridge Rd, Port Richey, FL 34668
      View Details
    • Contact for pricing
      10,000 SF

      Port Richey Restaurant - Turnkey Opportunity

      10,000 SF Restaurant, $6,000/month lease.
      9409 Us Highway 19, Port Richey, FL 34668
      View Details
    • $7,500,000
      91,000 SF

      Tampa Bay Shopping Center Investment Opportunity

      High-yield, stabilized retail center in Port Richey, FL.
      6411 Tacoma Dr, Port Richey, FL 34668
      View Details
    • Contact for pricing
      6,215 SF

      Former Bank Branch with Drive-Thru

      6,215 SF former bank branch on a hard corner.
      10290 Regency Park Blvd, Port Richey, FL 34668
      View Details
    • $1,300,000
      4,750 SF

      Automotive Services Property with Mezzanine

      8-bay automotive property with mezzanine storage, potential for vacancy.
      6135 Salt Springs Rd, Port Richey, FL 34668
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      171,705 SF

      Home Depot Plaza Retail Space

      Port Richey, FL Retail Center - 1,913 SF Available
      10017 Us Highway 19, Port Richey, FL 34668
      View Details
    • $99,000
      115,783 SF

      Embassy Plaza Retail Center

      High-traffic retail space available.
      9406-9524 Us Highway 19, Port Richey, FL 34668
      View Details
    • $117,187
      6,400 SF

      Prime Corner Retail Ground Lease

      High-traffic location, former bank building
      6514 Rdg Rd, New Port Richey East, FL 34668
      View Details
    • 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
    • Contact for pricing
      750 SF

      Retail Space with High Visibility

      Retail space with high traffic, easy access, and ample parking.
      6420 Ridge Rd, Port Richey, FL 34668
      View Details
    • Contact for pricing
      40,011 SF

      Regional Center Retail Opportunity

      Dominant regional center with high visibility and strong demographics.
      9570-9654 Us Highway 19 N, Port Richey, FL 34668
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7424 Rdg Rd
    Port Richey, FL 34668-6944
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.