Freestanding Corner Retail
For Sale
$499,000
103 NW US Highway 19, Crystal River, FL 34428
CommercialSale, Crystal River, FL
Property Size2,646 SF
Lot Size0.35 Acres
Price / SF$188.59
Days on Market196
Property Features for 103 NW US Highway 19
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
CG,CH,CITY
Parking features
Driveway
Interior features
HighCeilings
Exterior features
PavedDriveway
Subdivision
Sylvan Glen Add Crystal River
Lot features
Cleared, Corner Lot, Flat, Rectangular
Directions
Starting at Century 21 JW Morton Real Estate Inc Office at 1645 W Main St, Inverness, FL Turn left onto W Main St Continue onto FL-44 W/Hwy 44 W Continue to follow FL-44 W Turn right onto N Suncoast Blvd/NW US-19/NE US Hwy 19 The destination will be on the right
Standard status
Active
APN
1074053
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SYLVAN GLEN ADD TO CRYSTAL RIVER PB 1 PG 26 LOTS 40 & 41
Tax Annual Amount
4319
Legal Description
SYLVAN GLEN ADD TO CRYSTAL RIVER PB 1 PG 26 LOTS 40 & 41
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
covered front canopy
Building Details
Year built
1946
Floors in Building
1
Flooring type
Tile, Carpet
Roof type
Flat
Listing Agency:
Century 21 J.W.Morton R.E. · Century 21 Real Estate
(352) 726-6668
Listed By:
Joseph Zubrzycki · License #3537255
(815) 482-9898
Added: Feb 23
Changed: Aug 30
Last Checked: Sep 7 at 9:06AM
MLS# 852563
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 freestanding retail property at 103 NW US Highway 19 is arranged with multiple showroom-style rooms, private offices, storage areas, two restrooms, and a dedicated electrical and mechanical room. The concrete-block building includes high ceilings, tile and carpet flooring, central air, a flat roof, and a covered front canopy measuring 324 square feet. The interior layout can be reconfigured for retail, gallery, office, specialty shop, or service use, subject to zoning approval.
The property occupies a 0.35-acre corner parcel with direct US Highway 19 frontage, a paved driveway, on-site parking, and visible signage opportunities. Public water and public sewer serve the site. It adjoins the City Hall project and is near established businesses, marinas, restaurants, boat launches, Three Sisters Springs, the Gulf, and the headwaters of the Crystal River. Zoning is identified as CG, CH, CITY.
The property occupies a 0.35-acre corner parcel with direct US Highway 19 frontage, a paved driveway, on-site parking, and visible signage opportunities. Public water and public sewer serve the site. It adjoins the City Hall project and is near established businesses, marinas, restaurants, boat launches, Three Sisters Springs, the Gulf, and the headwaters of the Crystal River. Zoning is identified as CG, CH, CITY.
Key Highlights
- 0.35‑acre corner parcel at 103 NW US Highway 19
- Covered front canopy measuring 324 SQ FT
- Showroom‑style rooms, private offices, storage, two restrooms, and mechanical 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
$25,421
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
5.09%
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%
$508,420
$508.4K
Cap Rate 7%
$363,157
$363.2K
Cap Rate 9%
$282,456
$282.5K
Market Conditions
NOI Build-Up for 2,646 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
$39.7K $15.00/SF
− Vacancy
−$3.4K −$1.28/SF
EGI
$36.3K $13.73/SF
− OpEx
−$10.9K −$4.12/SF
NOI
$25.4K $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%
$508,420
Cap Rate 7%
$363,157
Cap Rate 9%
$282,456
Alternative Uses
Best Use
Retail
$363.2K
$317.8K – $423.7K
NOI $25,421 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$594.6K
$520.2K – $693.7K
NOI $41,619 @ 7.0% cap · market cap 8.34%
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
741
Businesses Nearby
68k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 29%
Electronics 2%
McDonald's
Dining
29,141 visits/mo
0.5 miles
BP
Shops & Services
11,606 visits/mo
0.4 miles
Fish House
Dining
10,904 visits/mo
0.1 miles
SUBWAY
Dining
7,220 visits/mo
0.4 miles
Chevron
Shops & Services
3,950 visits/mo
0.1 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Corner positioning along US Highway 19 provides direct access, paved parking, and a flexible interior for commercial occupancy.
Where is this storefront property located?
The property is located at 103 NW US Highway 19 Crystal River, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 0.35‑acre corner parcel at 103 NW US Highway 19; Covered front canopy measuring 324 SQ FT; Showroom‑style rooms, private offices, storage, two restrooms, and mechanical space
