Freestanding Storefront with
For Sale
$599,000
103 US Highway 19, Crystal River, FL 34428
Corner-site commercial building with showroom areas, private offices, customer parking, and flexible space for retail or office use.
Property Size2,970 SF
Price / SF$201.68
Days on Market210
Property Features for 103 US Highway 19
General Information
Standard status
Active
Size
2,970 SF
Property subtype
Retail
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,319
Amenities
covered front canopy
Central Air
Tile, Carpet
3
Flat
Corner Lot.
Driveway, Paved Driveway.
Rectangular
100x150
Corner, City Road, Paved Road, Clear lot, Rectangular.
Building Details
Year Built
1946
Buildings
1
Stories
1
Construction
concrete block
Listing Agency:
Century 21 J.W.Morton R.E.
(815) 482-9898
Listed By:
Joseph Zubrzycki · License #3537255
(815) 482-9898
Source:
Xome
Added: Jan 29
Changed: Aug 25
Last Checked: Aug 26 at 6:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 J.W.Morton R.E.
Investment Insights
Based on property information with market context.
This freestanding storefront property occupies a corner parcel at 103 NW US Highway 19 in Crystal River. The concrete block building includes several large showroom-style rooms, private offices, storage areas, two restrooms, and a separate electrical and mechanical room. A covered 324 SQ FT canopy extends across the front, while the interior layout can be reconfigured for retail, gallery, office, specialty shop, or service-oriented use subject to zoning approval.
The property has frontage along US Highway 19, on-site parking, and access from a prominent corner position. It adjoins the City Hall project currently under construction and is surrounded by local businesses, marinas, restaurants, and visitor-oriented activity. The site is also near downtown, waterfront amenities, boat launches, Three Sisters Springs, the Crystal River headwaters, and the Gulf.
The property has frontage along US Highway 19, on-site parking, and access from a prominent corner position. It adjoins the City Hall project currently under construction and is surrounded by local businesses, marinas, restaurants, and visitor-oriented activity. The site is also near downtown, waterfront amenities, boat launches, Three Sisters Springs, the Crystal River headwaters, and the Gulf.
Key Highlights
- Corner parcel with frontage along US Highway 19
- Covered 324 SQ FT front canopy
- Multiple showroom‑style rooms plus private offices and storage
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
$28,534
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
4.76%
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%
$570,680
$570.7K
Cap Rate 7%
$407,629
$407.6K
Cap Rate 9%
$317,044
$317.0K
Market Conditions
NOI Build-Up for 2,970 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
$44.6K $15.00/SF
− Vacancy
−$3.8K −$1.28/SF
EGI
$40.8K $13.73/SF
− OpEx
−$12.2K −$4.12/SF
NOI
$28.5K $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%
$570,680
Cap Rate 7%
$407,629
Cap Rate 9%
$317,044
Alternative Uses
Best Use
Retail
$407.6K
$356.7K – $475.6K
NOI $28,534 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$667.4K
$583.9K – $778.6K
NOI $46,715 @ 7.0% cap · market cap 7.80%
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-site commercial building with showroom areas, private offices, customer parking, and flexible space for retail or office use.
Where is this storefront property located?
The property is located at 103 US Highway 19 Crystal River, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Corner parcel with frontage along US Highway 19; Covered 324 SQ FT front canopy; Multiple showroom‑style rooms plus private offices and storage
