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    1730/1740 1640 SE 3rd 3rd 2nd Court Crystal River, FL 34429

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    Claim this Listing
    For Sale
    $224,900

    LAND - Crystal River, FL

    Lot size:
    0.68 Acres
    Added:
    Feb 2, 2026
    Days on Market:
    76
    Last Refresh:
    Apr 19 at 9:06 am

    Property Features for 1730/1740 1640 SE 3rd 3rd 2nd Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RW
    Standard status
    Active
    APN
    3166167
    Lot size
    0.68 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    VILLAGE OF PICARDY 3 lengthy legals per county govt recordings.
    Tax Annual Amount
    1000

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Waterfront, Canal Access, Ocean Access
    Water front
    1

    We can help!

    Listing Contact
    Christopher Freeman

    Listing agent Christopher Freeman License #3433930

    Listing office Second Wind Realty LLC 7421 W Pinebrook St, FL

    Listing date Feb 2, 2026

    MLS# 851868 Listing URL

    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

    Waterfront Land in Crystal River

    Available are two oversized waterfront community lots, totaling 0.66 acres, suitable for building a home. There is also an opportunity to build a separate small-boat boathouse on one lot with an unattached canal Deeded Waterfront Boat Slip Lot & Access/Parking Lot. The properties are located in the Village of Picardy subdivision in Crystal River, Florida. The residential lots are zoned AE flood zone, requiring elevated new construction to meet current codes. The boat slip lot is located at 1614 SE 2ND CT, while the residential lots are at 1730 SE 3RD CT and 1740 SE 3RD CT. The area features mid-century and other custom home architecture and offers convenient access to amenities, shopping, and entertainment. The new Suncoast PKWY provides easy travel. This location offers access to Florida's Nature Coast. The combined lot size is 0.68 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Law Firm Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal River
    County
    Citrus
    State
    Florida
    Longitude
    -82.590113
    Latitude
    28.882973

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    FAQs

    What type of property is this?
    Waterfront Land - Oversized waterfront community lots with potential for a boathouse.
    Where is this waterfront land located?
    The property is located at 1730/1740 1640 SE 3rd 3rd 2nd Court Crystal River, FL.
    What is the asking price?
    The asking price for this property is $224,900.
    What are key features of this property?
    This property features: Waterfront property with canal and ocean access; Opportunity to build on **two oversized lots (0.66 acres total)**; Includes a separate deeded boat slip lot with access and parking
    (352) 422-8606
    We can help!
    Listing Contact
    Christopher Freeman
    Real Estate License ID: 3433930
    Learn More
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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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