Live-Work Property with Flex
For Sale
$300,000
9478 W MARQUETTE Lane, Crystal River, FL 34428
Commercial Sale, CRYSTAL RIVER, FL
Property Size1,661 SF
Lot Size0.51 Acres
Price / SF$180.61
Days on Market155
Property Features for 9478 W MARQUETTE Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PSO
Appliances
Microwave
Subdivision
MARQUETTE VILLAGE UNIT 01
Directions
right on Citrus Ave in Crystal River
Standard status
Active
APN
17E-18S-09-0010-00050-0040
Size
1,661 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MARQUETTE VLG UNIT 1 PB 3 PG 42 (LR94-30 OR BK 1058 PG 464) LOT 4 BLK 5 & W1/2 OF LOT 5 & N 30 FT OF LT 3 BLK 5
Tax Annual Amount
2114
Legal Description
MARQUETTE VLG UNIT 1 PB 3 PG 42 (LR94-30 OR BK 1058 PG 464) LOT 4 BLK 5 & W1/2 OF LOT 5 & N 30 FT OF LT 3 BLK 5
Utilities
Utilities
Phone Available
Cooling system
Central Air
Amenities
separate entrance
welcoming lobby
disability-accessible walkways
air-conditioned sheds
Building Details
Year built
1991
Flooring type
Carpet, Tile - Ceramic, Laminate
Building materials
Block, Stucco
Listing Agency:
SOUTHERN REALTY ASSOCIATES
(352) 726-5900
Listed By:
Christopher Smith · License #3556145
(352) 613-4420
Added: Mar 29
Changed: Aug 25
Last Checked: Aug 30 at 7:06PM
MLS# OM721726
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 1,661-square-foot live-work property combines a one-bedroom, one-bath living area with a full kitchen and a separate professional section. The business component includes a welcoming lobby, two private offices, two additional bathrooms, and flexible space that can support another bedroom, office growth, or multipurpose use. Block and stucco construction, central air, laminate, ceramic tile, and carpet flooring complete the interior improvements.
Set on 0.51 acres in Crystal River, the property includes a paved parking area and disability-accessible walkways leading to the entrance. Two 240-square-foot air-conditioned sheds provide additional conditioned storage. Built in 1991, the property is zoned PSO and has phone service available.
Set on 0.51 acres in Crystal River, the property includes a paved parking area and disability-accessible walkways leading to the entrance. Two 240-square-foot air-conditioned sheds provide additional conditioned storage. Built in 1991, the property is zoned PSO and has phone service available.
Key Highlights
- 1,661‑square‑foot live‑work property on 0.51 acres
- One‑bedroom living area with full kitchen and separate entrance
- Two private offices, lobby, two additional bathrooms, and flex space
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
$19,037
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
6.35%
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%
$380,740
$380.7K
Cap Rate 7%
$271,957
$272.0K
Cap Rate 9%
$211,522
$211.5K
Market Conditions
NOI Build-Up for 1,661 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
$31.5K $18.96/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$29.3K $17.63/SF
− OpEx
−$10.3K −$6.17/SF
NOI
$19.0K $11.46/SF
Area
Citrus County, FL
Vacancy
7.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$380,740
Cap Rate 7%
$271,957
Cap Rate 9%
$211,522
Alternative Uses
Best Use
Flex RnD
$272.0K
$238.0K – $317.3K
NOI $19,037 @ 7.0% cap · market cap 6.35%
Second Best
Office B
$249.9K
$218.6K – $291.5K
NOI $17,490 @ 7.0% cap · market cap 5.83%
Theoretical Best
Specialty Retail
$373.2K
$326.6K – $435.4K
NOI $26,126 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 34428, FL
9,583
Population
5,058
Households
1.9
Avg Household Size
54
Median Age
20%
College-Educated
89%
High-School Grad
67.1 sq mi
ZIP Area
143
Density / Sq Mi
$48,185
Median Household Income
$29,589
Median Earnings
$890
Median Rent
$236,100
Median Home Value
Market
Vacancy Rate% for Office 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?
Live-work space - Combined residential and professional layout with private offices, accessible entry paths, and on-site paved parking.
Where is this live-work space located?
The property is located at 9478 W MARQUETTE Lane Crystal River, FL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,661‑square‑foot live‑work property on 0.51 acres; One‑bedroom living area with full kitchen and separate entrance; Two private offices, lobby, two additional bathrooms, and flex space
