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

    9948 Grv Dr New Port Richey, FL 34654-3403

    • Investment properties
    • 2,235 SF
    • 2.55 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1915989
    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

    • Dr. Aldo C. Dondero, MD / Pediatrician
    • River's Edge Pediatrics / Pediatric Clinic
    • Causey EyeCare / Optometrist / Eye Care Center

    Property Details for 9948 Grv Dr

    Year built
    1971
    Lot size
    2.55 lot acres
    Property size
    2,235 SF
    Zone code
    0PO2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    14-25-16-0020-00000-0241
    APU
    1425160020000000241

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $465,000
      6.5%
      $425,000
      7%
      $395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $608,000
      Market price range: $284k - $609k
      AI Estimate
      $516,000
      Market price range: $257k - $517k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $385,000
      Current use
      RETAIL STORES
      $630,000
      Change: +64% Conversion: Easy
      MEDICAL BUILDING
      $435,000
      Change: +13% Conversion: Easy
      OFFICE BUILDING
      $335,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Port Richey
    County
    Pasco
    State
    Florida
    Longitude
    -82.6676
    Latitude
    28.3027
    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
    $6,594
    $187,021
    $188,985
    $376,006
    -
    $187,021
    $188,985
    $376,006

    Comparable in this City

    • Value Estimation
      $505,000
      2,820 SF

      7126 Little Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,820 SF
      7126 Little Rd, New Port Richey, FL 34654-5514
      View Details
    • Value Estimation by Request
      822 SF

      11950 Minnieola Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 822 SF
      11950 Minnieola Dr, New Port Richey, FL 34654-1335
      View Details
    • Value Estimation by Request
      1,440 SF

      7637 Little Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,440 SF
      7637 Little Rd, New Port Richey, FL 34654-5525
      View Details
    • Value Estimation by Request
      2,337 SF

      10129 Little Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,337 SF
      10129 Little Rd, New Port Richey, FL 34654-3424
      View Details
    • Value Estimation by Request
      3,127 SF

      9208 Creston Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,127 SF
      9208 Creston Ave, New Port Richey, FL 34654-5014
      View Details
    • Value Estimation by Request
      2,504 SF

      11911 Pne Frst Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 2,504 SF
      11911 Pne Frst Dr, New Port Richey, FL 34654-1462
      View Details

    Similar Nearby for Sale

    • $899,000
      1,440 SF

      Prime New Port Richey Mixed-Use

      1,440 SF Office/Retail, High Visibility
      8821 Ridge Rd, New Port Richey, FL 34654
      View Details
    • $1,300,000
      6.19 Acres

      Versatile Land with Custom Pool Home

      6.19 acres with home, pond, and commercial zoning.
      9215 Ridge Rd, New Port Richey, FL 34654
      View Details
    • $1,300,000
      6.19 Acres

      Versatile Land with Custom Home

      6.19 acres with a home, pond, and commercial zoning.
      9215 Ridge Rd, New Port Richey, FL 34654
      View Details
    • $199,000
      6.38 Acres

      Prime Commercial Land, Hudson, FL

      6.38 Acres, High Traffic Location, Development Potential
      52 And Moon Lk Rd, New Port Richey, FL 34654
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    • $33,000
      0.18 Acres

      Cleared Double Lot Ready

      Cleared double lot suitable for traditional or mobile home.
      12955 Rio Vista Ave, New Port Richey, FL 34654
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    • $1,149,000
      8.27 Acres

      Pasco County Development Opportunity

      Land with development potential in the heart of Pasco County.
      Little Rd, New Port Richey, FL 34654
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Retail Space on Little Road

      Retail space available in high-traffic New Port Richey shopping center.
      9023-9217 Little Rd, New Port Richey, FL 34654
      View Details
    • $15 SF/Yr
      97,000 SF

      Counsel Square Office Park

      Prime FL Office Space Available
      7601 Little Rd, New Port Richey, FL 34654
      View Details
    • $1,900 /Mo
      1,400 SF

      New Port Richey Office Space

      Prime office space in high-traffic area, across from Pasco County.
      7511 Little Rd, New Port Richey, FL 34654
      View Details
    • $4,250 /Mo
      2,400 SF

      New Port Richey Office Space

      Well-appointed office building in a high-demand commercial corridor.
      7517 Little Rd, New Port Richey, FL 34654
      View Details
    • $24 SF/Yr
      130,937 SF

      Shoppes at Golden Acres Retail Space

      Prime New Port Richey retail/office suites.
      9736 Little Rd, New Port Richey, FL 34654
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space in New Port Richey

      Neighborhood center with restaurant outparcel available for lease.
      9736-9910 Little Rd, New Port Richey, FL 34654
      View Details
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    9948 Grv Dr
    New Port Richey, FL 34654-3403
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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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