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    1624 N Meadowcrest Blvd, Unit 2 Crystal River, FL 34429

    Sponsored
    For Lease
    $11 SF/Yr ($5,894 /Mo)

    COMMERCIAL - Crystal River, FL

    Type:Office
    Property size:
    6,430 SF
    Lot size:
    7.30 Acres
    Days on Market:
    94
    Last Refresh:
    Feb 12 at 3:06 am

    Property Features for 1624 N Meadowcrest Blvd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Zoning
    PDR
    Parking
    111
    Interior features
    HighCeilings
    Size
    6,430 SF
    Lot size
    7.30 Acres

    Taxes and HOA fees

    Expense value
    11
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1984
    Flooring type
    Concrete
    Building materials
    Stucco
    Roof type
    Flat

    We can help!

    Listing Contact
    Elias Kirallah
    Elias Kirallah

    Century21 J.W. Morton Real Estate, Inc (352) 726-6668

    Listing agent Elias Kirallah (352) 726-6668 License #3123414

    Listing date Nov 11, 2025

    MLS# 843533

    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.

    Learn more

    Property Insight Report

    Overview

    Crystal River Two-Story Office Space

    Located in Crystal River, part of the Tampa/St. Petersburg MSA, this 6,430 square foot two-story office space is available for lease. The space features several large coworking areas, private offices, and conference rooms, with access to shared common areas that include ADA-compliant restrooms and break areas. Situated just off Highway SR 44 on a 7.3-acre lot, the property provides over 111 shared parking spaces. The location is 3.2 miles east of the recently extended Suncoast Parkway 2 and SR 44 interchange, positioning it near Inverness (15.2 miles), Crystal River (4 miles), Citrus Springs (11.8 miles), and Beverly Hills/Central Ridge District (6.6 miles). Located in Citrus County, which has 153,600 residents, the area is projected to grow to 350,000 residents under Citrus County's Land Development Code. Infrastructure development is underway to accommodate an expected 30,000 new residents by 2030. Citrus County has 61,000 platted, recorded vacant parcels.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Citrus County Chronicle Publishing House Bay News 9 Newspaper & Magazine

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal River
    County
    Citrus
    State
    Florida
    Longitude
    -82.539508
    Latitude
    28.886682

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      Crystal River Two-Story Office Space

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    FAQs

    What type of property is this?
    Office space - 6,430 SF office space for lease in Crystal River, Florida.
    Where is this office space located?
    The property is located at 1624 N Meadowcrest Blvd, Unit 2 Crystal River, FL.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: - 6,430 SF two-story office space for lease.; - Located in Crystal River, part of the Tampa/St. Petersburg MSA.; - Convenient location 3.2 miles from Suncoast Parkway 2 and SR 44 interchange.
    (352) 400-2635
    Request Owner's contact information
    1624 N Meadowcrest Blvd, Unit 2 Crystal River, FL 34429
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    Crystal River, FL 34429
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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
    1624 N Meadowcrest Blvd, Unit 2 Crystal River, FL 34429
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    We can help!
    Listing Contact
    Elias Kirallah
    Elias Kirallah
    Real Estate License ID: 3123414
    (352) 400-2635
    Learn more
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