Commercial Building on US
For Sale
Contact for pricing
Pending
10241 N Florida Avenue, Citrus Springs, FL 34434
Commercial property with high visibility and accessibility on US 41.
Property Size3,280 SF
Lot Size1.35 Acres
Days on Market587
Property Features for 10241 N Florida Avenue
General Information
Standard status
Pending
Size
3,280 SF
Class
B
Total Parking Spaces
30
Lot size
1.35 Acres
Property subtype
Special Purpose
Investment Type
Owner/User
Building Details
Year Built
1988
Listing Agency:
Century 21 J W Morton Real Estate Inc
Listed By:
Thao Le, CCIM & CBI · License #FL
Source:
Crexi
Added: Feb 11, 2025
Changed: Sep 10
Last Checked: Sep 20 at 8:09AM
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 Real Estate Inc
Investment Insights
Based on property information with market context.
This commercial property is located at the corner of US Highway 41 and N Citrus Springs Blvd. The site encompasses 1.35 acres and includes a 3,280 sq.ft. free-standing building. Situated across from the main entrance to Citrus Springs, the property benefits from a lighted corner location on US 41. The location offers visibility, accessibility, and parking, making it suitable for various businesses. Potential uses include fast-food restaurants, coffee shops, pharmacies, medical clinics, service industries, retail outlets, educational facilities, and dry cleaners. The property is ideal for walk-in and drive-through businesses.
Key Highlights
- 1.35 acre commercial corner lot on US Highway 41 & N Citrus Springs Blvd
- 3,280 sq.ft free standing building
- Prime location across from Citrus Springs main entrance
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
$31,513
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
4.07%
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%
$630,260
$630.3K
Cap Rate 7%
$450,186
$450.2K
Cap Rate 9%
$350,144
$350.1K
Market Conditions
NOI Build-Up for 3,280 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
$49.2K $15.00/SF
− Vacancy
−$4.2K −$1.28/SF
EGI
$45.0K $13.73/SF
− OpEx
−$13.5K −$4.12/SF
NOI
$31.5K $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%
$630,260
Cap Rate 7%
$450,186
Cap Rate 9%
$350,144
Alternative Uses
Best Use
Retail
$450.2K
$393.9K – $525.2K
NOI $31,513 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$737.0K
$644.9K – $859.9K
NOI $51,591 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
857
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Capital City Bank
Shops & Services
857 visits/mo
0.1 miles
Demographics for 34434, FL
9,582
Population
4,559
Households
2.1
Avg Household Size
47
Median Age
17%
College-Educated
90%
High-School Grad
26.3 sq mi
ZIP Area
364
Density / Sq Mi
$56,553
Median Household Income
$35,245
Median Earnings
$1,226
Median Rent
$211,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial property with high visibility and accessibility on US 41.
Where is this storefront property located?
The property is located at 10241 N Florida Avenue Citrus Springs, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 1.35 acre commercial corner lot on US Highway 41 & N Citrus Springs Blvd; 3,280 sq.ft free standing building; Prime location across from Citrus Springs main entrance
