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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Investment properties
9948 Grv Dr, New Port Richey, FL 34654-3403
Individually Owned
15-yr Hold
~
Est. High Equity
Property ID
US18-1915989
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1971
Total area
2,235 SF
Lot
2.55 ac (111,273 SF)
Zoning code
0PO2
APN
14-25-16-0020-00000-0241
UPID
US18-1915989
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Aldo C. Dondero, MD Pediatrician Medical Clinic
-
River's Edge Pediatrics Medical Clinic Pediatrician
-
Causey EyeCare Eye Care Center Optometrist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$425k
Comparable Approach
Comparable
$609k
Blend (final)
Blend
$520k
Owner & transaction history
Michael J Causey · 15 yrs held
Michael J Causey
since 2011
3 recorded transactions
Zoning & alternative use
0PO2 · New Port Richey, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$630,000
+63.9%
Medical building
$435,000
+12.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Port Richey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Port Richey submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$465,000
6.5%
$425,000
7%
$395,000
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
Blend value · Realmo final
$520k
Range $468k – $572k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$233 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,594
Tax year 2023
Assessed value
$376,006
Assessed 2023
Previous assessed
$335,860
+12.0% YoY
Effective rate
1.75%
On assessed value
Assessed land
$187,021
Assessed improvement
$188,985
Land market value
$187,021
Improvement market value
$188,985
Total market value
$376,006
Applied tax rate
6,200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1971
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
72
Bathrooms
2
Total area
2,235 SF
Lot
2.55 ac (111,273 SF)
Zoning code
0PO2
APN
14-25-16-0020-00000-0241
UPID
US18-1915989
Jurisdiction
PASCO
Zoning & alternative use
0PO2 · New Port Richey, FL
Zoning 0PO2 · permitted uses
0PO2 · New Port Richey, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Port Richey. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$385,000
RETAIL STORES
Est. value
$630,000
MEDICAL BUILDING
Est. value
$435,000
OFFICE BUILDING
Est. value
$335,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1971
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
72
Bathrooms
2
Lot
2.55 ac
Current owner
From public records · entity-resolved
Michael J Causey
Individual
Mailing address
9948 GRV DR, NEW PORT RICHEY, FL 34654-3403
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2011
$220,000
Michael J Causey
Reavis,robert D
Warranty Deed
$176,000 · Synovus Bank
Feb 28, 2011
$30,100
Robert D Reavis
Wohlfiel,melodie Coc
Trustees Deed
related
—
Mar 8, 2004
$250,000
Melodle Wohlfiel
Reavis,robert D
Grant Deed
$220,000 · Robert D Reavis
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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