Freestanding Office
For Sale
$2,450,000
268 S SUNCOAST Boulevard, Crystal River, FL 34429
Commercial Sale, CRYSTAL RIVER, FL
Property Size7,585 SF
Lot Size2.29 Acres
Price / SF$322.54
Days on Market26
Property Features for 268 S SUNCOAST Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
GNC
Window features
Double Pane Windows
Subdivision
AUNGUST UNREC AKA KIMBERLY ESTATES UNREC
Directions
75 - South toward Tampa Take Exit 350 onto SR-200 toward Dunnellon Keep right onto SR-200 west toward Dunnellon- Turn (r) onto N Lecanto Hwy - Turn (r) onto W Norvell Bryant Hwy, Turn (R) onto W Venable St. Turn (L) onto N Suncoast Blvd Turn (r) Destination is on left.
Standard status
Active
APN
17E-19S-03-0000-43310-0010
Size
7,596 SF
Lot size
2.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM AT SW COR OF NW1/4 OF NW1/4 FOR A PT OF REF: TH N 89 DEG47M 39S E AL S LN OF NW1/4 OF NW1/4 738.38 FT TO CONCRETE MONUMENT & POB. TH CONT N 89 DEG 47M 39S E AL S LN A DIST OF500 FT TO A CONCRETE MONUMENT ON THE W R/W LN OF US HWY 19,TH S 0 DEG 1M 21S W AL W R/W LN 200 FT TO A CONRETE MONUMENTTH LEAVING SD W R/W LN RUN S 89 DEG 47M 39S W PAR TO S LN OF NW1/4 OF NW1/4 500 FT TO A CONCRETE MONUMENT, TH N 0 DEG 1M 21S E PAR TO SD W R/W LN A DIST OF 200 FT TO POB DESC IN OR BK 806 PG 125
Tax Annual Amount
15428
Legal Description
COM AT SW COR OF NW1/4 OF NW1/4 FOR A PT OF REF: TH N 89 DEG47M 39S E AL S LN OF NW1/4 OF NW1/4 738.38 FT TO CONCRETE MONUMENT & POB. TH CONT N 89 DEG 47M 39S E AL S LN A DIST OF500 FT TO A CONCRETE MONUMENT ON THE W R/W LN OF US HWY 19,TH S 0 DEG 1M 21S W AL W R/W LN 200 FT TO A CONRETE MONUMENTTH LEAVING SD W R/W LN RUN S 89 DEG 47M 39S W PAR TO S LN OF NW1/4 OF NW1/4 500 FT TO A CONCRETE MONUMENT, TH N 0 DEG 1M 21S E PAR TO SD W R/W LN A DIST OF 200 FT TO POB DESC IN OR BK 806 PG 125
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1990
Floors in Building
2
Flooring type
Tile - Ceramic, Carpet
Building materials
Block, Concrete, Stucco
Listing Agency:
GAILEY ENTERPRISES REAL ESTATE
(770) 733-2596
Listed By:
Rhonda Gailey · License #3395648
(770) 733-2596
Added: Aug 4
Changed: Aug 24
Last Checked: Aug 29 at 7:06PM
MLS# OM729724
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding office building provides a substantial professional workspace on 2.29 acres. The interior includes approximately 19 rooms, private offices, larger rooms suitable for meetings or training, two reception areas, storage rooms, five restrooms, ceramic tile and carpet flooring, wood cabinetry, built-ins, and detailed millwork. Central air conditioning, central electric heating, public water, and a septic tank serve the property. Constructed in 1990, the building is positioned along US Highway 19/Suncoast Boulevard with approximately 200 feet of highway frontage. More than 25 private parking spaces support daily operations, while the site is approximately six miles from the extended Suncoast Parkway/State Road 589 and approximately two minutes from Crystal River Airport. The property carries GNC zoning and offers a large office configuration for commercial operations subject to applicable approvals.
Key Highlights
- 2.29‑acre office property with approximately 200 feet of frontage on US Highway 19/Suncoast Boulevard
- 7,585‑square‑foot freestanding office building with approximately 19 rooms
- More than 25 private parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,986
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,599,720
$1.6M
Cap Rate 7%
$1,142,657
$1.1M
Cap Rate 9%
$888,733
$888.7K
Market Conditions
NOI Build-Up for 7,596 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$136.7K $18.00/SF
− Vacancy
−$30.1K −$3.96/SF
EGI
$106.6K $14.04/SF
− OpEx
−$26.7K −$3.51/SF
NOI
$80.0K $10.53/SF
Area
Citrus County, FL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,599,720
Cap Rate 7%
$1,142,657
Cap Rate 9%
$888,733
Alternative Uses
Best Use
Office B
$1.14M
$999.8K – $1.33M
NOI $79,986 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.71M
$1.49M – $1.99M
NOI $119,476 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 34429, FL
8,837
Population
5,458
Households
1.6
Avg Household Size
60
Median Age
25%
College-Educated
90%
High-School Grad
41.4 sq mi
ZIP Area
213
Density / Sq Mi
$57,716
Median Household Income
$36,577
Median Earnings
$1,070
Median Rent
$220,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office property with private rooms, reception areas, storage, parking, and GNC commercial zoning.
Where is this office building located?
The property is located at 268 S SUNCOAST Boulevard Crystal River, FL.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 2.29‑acre office property with approximately 200 feet of frontage on US Highway 19/Suncoast Boulevard; 7,585‑square‑foot freestanding office building with approximately 19 rooms; More than 25 private parking spaces
