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6102 Indiana Ave 1,792 SF 100% Leased Office Building New Port Richey, FL 34653 $395,000 ($220.42/SF)



Investment Highlights
- Irreplaceable Hospital Proximity Directly across from 222 bed Morton Plant North Bay Hospital.
- Positioned for NNN rents of $22–$26/SF in a low-vacancy (˜4.9%) Pasco office submarket; supports solid yields for private investors, 1031 buyers
- Ideal for healthcare practitioners, medical billing or ancillary services, legal, accounting, insurance, financial services
- Recent comprehensive renovations (2026), Concrete-block construction, central HVAC ideal for owner user or rapid lease up
- Onsite paved parking, within the New Port Richey Community Redevelopment Area, supporting long-term value
Executive Summary
Directly across from Morton Plant North Bay Hospital, BayCare’s 222-bed acute-care facility and West Pasco County’s only not-for-profit community hospital. This single-story commercial building occupies a rare, irreplaceable location in an active medical corridor. The hospital campus generates continuous daily traffic of patients, staff, physicians, and visitors, creating durable demand for nearby professional and medical-related space that cannot be replicated.
The property was fully renovated in 2026 and is currently vacant, delivered as a vanilla shell ready for immediate owner-occupant build-out or NNN lease-up. No existing tenants. Available for immediate occupancy. Constructed of concrete block with stucco exterior and central HVAC, it sits on a 6,534 SF lot with on-site paved parking. It lies within the New Port Richey Community Redevelopment Area (CRA 2002), benefiting from ongoing public investment in infrastructure and corridor improvements.
Pasco County’s office submarket currently operates at approximately 4.9% vacancy with average asking rents near $27/SF, reflecting landlord-favorable conditions. Stabilized NNN rents in the $22–$26/SF range are supported by medical-adjacent comps and broader submarket data, positioning the asset for strong cash-flow potential or a high-yield investment exit. At the offered price of $395,000 (~$220/SF), the property is priced attractively relative to replacement cost and the hospital-adjacent premium, appealing to both medical/professional owner-occupants and private investors.
Ideal for healthcare practitioners (primary care, physical therapy, behavioral health, specialty clinics), medical billing or ancillary services, professional offices (legal, accounting, insurance, financial services), or as a 1031 exchange or NNN investment vehicle. The combination of hospital adjacency, recent full renovation, on-site parking, CRA location, and constrained supply of comparable medical-corridor sites creates a compelling ownership opportunity in a growing West Pasco market.
The property was fully renovated in 2026 and is currently vacant, delivered as a vanilla shell ready for immediate owner-occupant build-out or NNN lease-up. No existing tenants. Available for immediate occupancy. Constructed of concrete block with stucco exterior and central HVAC, it sits on a 6,534 SF lot with on-site paved parking. It lies within the New Port Richey Community Redevelopment Area (CRA 2002), benefiting from ongoing public investment in infrastructure and corridor improvements.
Pasco County’s office submarket currently operates at approximately 4.9% vacancy with average asking rents near $27/SF, reflecting landlord-favorable conditions. Stabilized NNN rents in the $22–$26/SF range are supported by medical-adjacent comps and broader submarket data, positioning the asset for strong cash-flow potential or a high-yield investment exit. At the offered price of $395,000 (~$220/SF), the property is priced attractively relative to replacement cost and the hospital-adjacent premium, appealing to both medical/professional owner-occupants and private investors.
Ideal for healthcare practitioners (primary care, physical therapy, behavioral health, specialty clinics), medical billing or ancillary services, professional offices (legal, accounting, insurance, financial services), or as a 1031 exchange or NNN investment vehicle. The combination of hospital adjacency, recent full renovation, on-site parking, CRA location, and constrained supply of comparable medical-corridor sites creates a compelling ownership opportunity in a growing West Pasco market.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$43,008
|
$24.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,150
|
$1.20
|
| Effective Gross Income |
$40,858
|
$22.80
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $43,008 |
| Annual Per SF | $24.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,150 |
| Annual Per SF | $1.20 |
| Effective Gross Income | |
|---|---|
| Annual | $40,858 |
| Annual Per SF | $22.80 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Building Size
1,792 SF
Building Class
B
Year Built/Renovated
1962/2026
Price
$395,000
Price Per SF
$220.42
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
1,792 SF
Building FAR
0.27
Lot Size
0.15 AC
Zoning
O - 01200-Mixed Use Retail Store/Office /Residential
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 04-26-16-0030-05700-0110 | Improvements Assessment | $165,644 |
| Land Assessment | $19,140 | Total Assessment | $184,784 |
Property Taxes
Parcel Number
04-26-16-0030-05700-0110
Land Assessment
$19,140
Improvements Assessment
$165,644
Total Assessment
$184,784
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6102 Indiana Ave
