Three-Unit Neighborhood Retail
For Sale
$699,000
4065 S Suncoast Boulevard, Homosassa, FL 34446
SINGLE_FAMILY - Homosassa, FL
Property Size4,260 SF
Lot Size0.29 Acres
Price / SF$164.08
Days on Market254
Property Features for 4065 S Suncoast Boulevard
General Information
Property type
Residential
Property subtype
Retail
Zoning
GNC
Parking
17
Parking features
Parking Lot, Driveway
Exterior features
PavedDriveway
Subdivision
Not on List
Lot features
Flat, Trees
Directions
From downtown Homosassa Springs, head south on S Suncoast Blvd, and you should reach your destination on the left-hand side of the street.
Standard status
Active
APN
1137764
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT OF NE1/4 OF NW1/4 SEC 27-19-17 FKA LOTS 5 6 7 & 8 BLK 69 OF UNIT 2 OF HOMOSASSA TOG WITH 1/2 OF STS N & S & 1/2 OF VAC ALLEY E'LY THEREOF DESC IN OR BK 808 PG 440 OR BK 2502 PG 1258
Tax Annual Amount
4269
Legal Description
PT OF NE1/4 OF NW1/4 SEC 27-19-17 FKA LOTS 5 6 7 & 8 BLK 69 OF UNIT 2 OF HOMOSASSA TOG WITH 1/2 OF STS N & S & 1/2 OF VAC ALLEY E'LY THEREOF DESC IN OR BK 808 PG 440 OR BK 2502 PG 1258
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Flooring type
Laminate
Building materials
Stucco
Roof type
Asphalt, Shingle
Listing Agency:
Century 21 J.W.Morton R.E. · Century 21 Real Estate
(352) 726-6668
Listed By:
Elias Kirallah · License #3123414
(352) 400-2635
Added: Nov 25, 2025
Changed: Jul 31
Last Checked: Aug 6 at 7:06PM
MLS# 850247
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.
Investment Insights
Based on property information with market context.
This three-unit, income-producing neighborhood retail center totals 4,260 square feet (2,400 SF + 930 SF + 930 SF) on 0.29 acres of GNC-zoned commercial land. The property features stucco exterior construction, laminate flooring, central air conditioning, and an asphalt shingle roof. Parking is available via a parking lot and driveway, and the site includes paved driveway access plus public water and public sewer service.
The center offers 185 feet of direct frontage along US Highway 19 with exposure to +/- 27,000 vehicles per day. Access is right-in/right-out from South Suncoast Blvd, and the property is located just south of the signalized Grover Cleveland Blvd / Halls River Road intersection. On-site parking includes 18 dedicated spaces.
The retail center is currently occupied by two tenants with one vacancy, providing flexibility for investors seeking rental income or an owner-user looking to offset occupancy costs.
The center offers 185 feet of direct frontage along US Highway 19 with exposure to +/- 27,000 vehicles per day. Access is right-in/right-out from South Suncoast Blvd, and the property is located just south of the signalized Grover Cleveland Blvd / Halls River Road intersection. On-site parking includes 18 dedicated spaces.
The retail center is currently occupied by two tenants with one vacancy, providing flexibility for investors seeking rental income or an owner-user looking to offset occupancy costs.
Key Highlights
- 3‑unit neighborhood retail center totaling 4,260 SF (2,400 SF + 930 SF + 930 SF)
- 0.29 acres of GNC‑zoned commercial land
- 185 feet of direct US Highway 19 frontage with +/- 27,000 vehicles per day
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
$40,928
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
5.86%
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%
$818,560
$818.6K
Cap Rate 7%
$584,686
$584.7K
Cap Rate 9%
$454,756
$454.8K
Market Conditions
NOI Build-Up for 4,260 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
$63.9K $15.00/SF
− Vacancy
−$5.4K −$1.28/SF
EGI
$58.5K $13.73/SF
− OpEx
−$17.5K −$4.12/SF
NOI
$40.9K $9.61/SF
Area
Citrus County, FL
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$818,560
Cap Rate 7%
$584,686
Cap Rate 9%
$454,756
Alternative Uses
Best Use
Retail
$584.7K
$511.6K – $682.1K
NOI $40,928 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$957.2K
$837.6K – $1.12M
NOI $67,005 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
27,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
81k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 67%
Shops & Services 33%
Walmart
Superstores
54,320 visits/mo
0.3 miles
7-Eleven
Shops & Services
13,817 visits/mo
0.3 miles
Circle K
Shops & Services
12,985 visits/mo
0.2 miles
Demographics for 34446, FL
18,431
Population
9,588
Households
1.9
Avg Household Size
62
Median Age
18%
College-Educated
89%
High-School Grad
29.8 sq mi
ZIP Area
618
Density / Sq Mi
$60,625
Median Household Income
$41,423
Median Earnings
$938
Median Rent
$231,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - GNC-zoned three-unit retail center with central air, paved driveway, and public water and sewer service.
Where is this retail space located?
The property is located at 4065 S Suncoast Boulevard Homosassa, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3‑unit neighborhood retail center totaling 4,260 SF (2,400 SF + 930 SF + 930 SF); 0.29 acres of GNC‑zoned commercial land; 185 feet of direct US Highway 19 frontage with +/- 27,000 vehicles per day
