Land and Building
For Sale
$575,000
Pending
687 5th St, Crystal River, FL 34429
Land and building with high-traffic location and income potential.
Property Size2,500 SF
Lot Size0.32 Acres
Days on Market822
Property Features for 687 5th St
General Information
Standard status
Pending
Size
2,500 SF
Lot size
0.32 Acres
Taxes and HOA fees
Annual Taxes
$4,900
Listing Agency:
ERA American Suncoast Realty
(352) 746-3600
Listed By:
Arbuth Bumgarner · License #3353975
(352) 220-0596
Source:
Exprealty
Added: Jul 15, 2024
Changed: Aug 8
Last Checked: Aug 8 at 1:04PM
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 ERA American Suncoast Realty
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire land and a building in a location that has supported a successful business. The site benefits from access to three streets and is situated minutes from the city hall. Major highways provide connections to the east, west, north, and south. The expanding Suncoast Parkway extends into Citrus County, placing the property near established businesses such as Dunkin' Donuts, Walgreens, CVS, and Wawa. The existing building includes 2,500 square feet available for sublease, offering income generation potential. The property is located in one of the fastest-growing counties in Florida.
Key Highlights
- High‑traffic location with 3 street access and proximity to major highways.
- Income‑generating potential with 2,500 sq ft available for sublease.
- Possible owner financing for building and land.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,019
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,380
$480.4K
Cap Rate 7%
$343,129
$343.1K
Cap Rate 9%
$266,878
$266.9K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$37.5K $15.00/SF
− Vacancy
−$3.2K −$1.28/SF
EGI
$34.3K $13.73/SF
− OpEx
−$10.3K −$4.12/SF
NOI
$24.0K $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 Rate 5%
$480,380
Cap Rate 7%
$343,129
Cap Rate 9%
$266,878
Alternative Uses
Best Use
Retail
$343.1K
$300.2K – $400.3K
NOI $24,019 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$561.7K
$491.5K – $655.4K
NOI $39,322 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
273k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 35%
Superstores 9%
Groceries 3%
Wawa
Shops & Services
51,855 visits/mo
0.2 miles
RaceTrac
Shops & Services
31,031 visits/mo
0.4 miles
McDonald's
Dining
29,141 visits/mo
0.3 miles
Big Lots
Superstores
23,339 visits/mo
0.4 miles
Wendy's
Dining
17,473 visits/mo
0.3 miles
Demographics for 34429, FL
8,837
Population
5,458
Households
1.6
Avg Household Size
60
Median Age
25%
College-Educated
90%
High-School Grad
41.4 sq mi
ZIP Area
213
Density / Sq Mi
$57,716
Median Household Income
$36,577
Median Earnings
$1,070
Median Rent
$220,300
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Individual retail property - Land and building with high-traffic location and income potential.
Where is this individual retail property located?
The property is located at 687 5th St Crystal River, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: High‑traffic location with 3 street access and proximity to major highways.; Income‑generating potential with 2,500 sq ft available for sublease.; Possible owner financing for building and land.
