Add Listing
    For Sale
    • 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

    10920 N G Martinelli Boulevard Citrus Springs, FL 34433

    View on Map
    For Sale
    Contact for pricing

    LAND - Citrus Springs, FL

    Lot size:
    0.30 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    24
    Last Refresh:
    Apr 4 at 7:06 pm

    Property Features for 10920 N G Martinelli Boulevard

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    PDO,RUR
    Exterior features
    RoomForPool
    Standard status
    Active
    APN
    1442770
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CITRUS SPRINGS UNIT 21 PB 7 PG 73 LOT 6 BLK 1438
    Tax Annual Amount
    194

    Utilities

    Sewer type
    Septic Needed
    Water source
    Public

    We can help!

    Listing Contact
    Joseph Alexander

    Listing agent Joseph Alexander License #3065029

    Listing office Alexander Real Estate, Inc. 5569 W Gulf To Lake Hwy., Crystal River, FL

    Listing date Mar 12, 2026

    MLS# 853115

    Copyright © 2026 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Citrus Springs Corner Lot

    This approximately 0.30-acre corner lot is located in Citrus Springs. The property is situated in a homes-only community and is convenient to restaurants, medical facilities, and shopping. The lot is located in an area designated Zone X, indicating it is high and dry, and flood insurance is not required. A public water line extension has been completed by Citrus County Utilities. The property is zoned for Citrus Springs Elementary, Crystal River Middle, and Crystal River High schools. Deed restrictions and an Architectural Review Committee are in place. A voluntary Civic Association exists for approximately $25 per year.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Gym & Fitness Center (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Citrus Springs
    County
    Citrus
    State
    Florida
    Longitude
    -82.4812864
    Latitude
    29.0223319

    Nearby Similar for Sale

    • $524,900
      3,340 SF

      New Duplex in Citrus Springs

      New construction duplex with income potential in Citrus Springs, Florida.
      9473 N Camel Drive, Citrus Springs, FL 34434
      View Details
    • $524,900
      3,340 SF

      New Duplex in Citrus Springs

      New construction duplex with income potential in growing Citrus Springs.
      9473 N CAMEL DRIVE, CITRUS SPRINGS, FL 34434
      View Details
    • $23,000

      Citrus Springs Land Ready to Build

      Cleared land in a growing community, ready for immediate development.
      7291 N GIBRALTER Drive, Citrus Springs, FL 34434
      View Details
    • $27,500

      Corner Lot in Citrus Springs

      0.28 acre corner lot near future commercial hub.
      9540 N PINEVIEW WAY, CITRUS SPRINGS, FL 34434
      View Details
    • $27,500

      Citrus Springs Corner Lot

      Corner lot in Citrus Springs, city water and electricity available.
      9540 N Pineview Way, Citrus Springs, FL 34434
      View Details
    • $21,900

      Corner Lot in Citrus Springs

      Oversized corner lot near Rainbow Springs State Park.
      1230 W Lorraine Drive, Citrus Springs, FL 34434
      View Details
    • $27,900

      Citrus Springs Buildable Corner Lot

      Buildable corner lot in a growing Citrus Springs community.
      10222 N Dyal Drive, Citrus Springs, FL 34434
      View Details
    • $23,000

      Citrus Springs Cleared Land Parcel

      Cleared, surveyed lot in growing Citrus Springs community.
      7277 N Gibralter Drive, Citrus Springs, FL 34434
      View Details
    • $23,000

      Residential Lot in Citrus Springs

      0.23-acre residential lot in a growing Florida community.
      9948 N SANDREE DRIVE, CITRUS SPRINGS, FL 34434
      View Details
    • $12,900

      Land in Citrus Springs, FL

      Land for sale in a nature-rich area of Citrus Springs.
      2601 W VENTURA LANE, CITRUS SPRINGS, FL 34434
      View Details
    • $23,000

      Residential Lot in Citrus Springs

      0.23-acre residential lot in a growing Florida community.
      9948 N Sandree Drive, Citrus Springs, FL 34434
      View Details
    • $15,000

      Residential Homesite in Citrus Springs

      0.23-acre homesite in a quiet, established residential area.
      6692 N Airmont Drive, Citrus Springs, FL 34433
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Corner lot in Citrus Springs, build your dream home!
    Where is this residential land & home lot located?
    The property is located at 10920 N G Martinelli Boulevard Citrus Springs, FL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Large corner lot (approx. 0.30 acres) in desirable Citrus Springs community.; High and Dry (Zone X) - No flood insurance required.; Public water line extension completed.
    (352) 795-6633
    We can help!
    Listing Contact
    Joseph Alexander
    Real Estate License ID: 3065029
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!