Property profile

7552 Congress St New Port Richey, FL 34653

OFF-MARKET
Office buildings
Property ID
US18-3218506
3,949 SF 0.29 ac lot Built 1982
Entity Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 3,949 square foot office building in New Port Richey, Florida, presents a compelling owner-user opportunity. Located at 7552 Congress St, this single-story, 1982-built property sits on a 0.29-acre lot and boasts 16 parking spaces, providing ample convenience for tenants and staff. Currently configured as a multi-tenant building with five occupants, all leases expire October 31, 2023, offering significant potential for expansion or repositioning. The property is zoned C1 and benefits from a highly visible location on Congress Street, between Ridge Road and downtown New Port Richey, ensuring excellent accessibility and exposure. The asking price is $695,000, translating to $175.99 per square foot. The property's convenient location offers easy access to major roadways and the vibrant downtown area. This presents a rare chance to acquire a well-situated office building in a thriving Florida market, ideal for an owner-occupier seeking to expand their business or a savvy investor looking for a strong return. The property's existing tenant base provides immediate cash flow, while the upcoming lease expirations offer flexibility for future development. The property's APN is 33-25-16-0780-00000-00C0. This is a modified lease situation.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1982
Total area 3,949 SF
Lot 0.29 ac (12,670 SF)
Zoning code 00C1
APN 33-25-16-0780-00000-00C0
UPID US18-3218506

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Counselor
  • Medical Clinic Spa & Massage Center
  • Alternative Medicine Practice Spa & Massage Center
  • Employment Agency

Location

7552 Congress St New Port Richey, FL 34653-1106
New Port Richey metro Census 30906 TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$220k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$160k

Owner & transaction history

since 2021
Last sale
$250,000
6 recorded transactions
2021
$250,000
2021
Price N/A
2017
Price N/A
2016
Price N/A
2004
Price N/A
2004
Price N/A

Zoning & alternative use

00C1 · New Port Richey, FL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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