Four-Pavilion Office
For Sale
$1,650,000
1255 N VANTAGE POINT, Crystal River, FL 34429
A landscaped central court links distinct office sections with specialized work and training areas.
Property Size11,369 SF
Days on Market9
Property Features for 1255 N VANTAGE POINT
General Information
Standard status
Active
Size
11,369 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,948
Building Details
Building Size
11,369 SF
Year Built
1984
Units
4
Listing Agency:
Century 21 J W Morton Real Estate Inc
Listed By:
Elias Kirallah · License #BK3123414
(352) 400-2635
Source:
Elliman
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 7 at 2:03PM
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.
Completed in 1984, this 11,369-square-foot office property spans 1.88 acres and comprises four pavilions arranged around a landscaped court. The buildings connect to form a coordinated campus while maintaining separation between work areas. Interior spaces include executive offices, open work areas, accounting and marketing sections, a conference room, and a training suite with a classroom, projection room, library, and lounge. One pavilion has a computer room with raised access flooring and dedicated cooling, plus an adjoining secure vault. Locker and shower facilities are also present. The design is credited to Hal Thomas Reid Associates, P.A.
The property is in Meadowcrest Office Park in Crystal River, with access to SR 44 and the Suncoast Parkway corridor. Public water and sewer serve the site, which has 42 parking spaces distributed among three areas.
The property is in Meadowcrest Office Park in Crystal River, with access to SR 44 and the Suncoast Parkway corridor. Public water and sewer serve the site, which has 42 parking spaces distributed among three areas.
Key Highlights
- Four interconnected office pavilions organized around a landscaped central court
- 11,369 square feet on 1.88 acres; completed in 1984
- 42 parking spaces across three parking areas, approximately 3.7 spaces per 1,000 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,716
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,394,320
$2.4M
Cap Rate 7%
$1,710,229
$1.7M
Cap Rate 9%
$1,330,178
$1.3M
Market Conditions
NOI Build-Up for 11,369 SF
Gross rent
$204.6K $18.00/SF
− Vacancy
−$45.0K −$3.96/SF
EGI
$159.6K $14.04/SF
− OpEx
−$39.9K −$3.51/SF
NOI
$119.7K $10.53/SF
Area
Citrus County, FL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,394,320
Cap Rate 7%
$1,710,229
Cap Rate 9%
$1,330,178
Alternative Uses
Best Use
Office B
$1.71M
$1.50M – $2.00M
NOI $119,716 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.55M
$2.24M – $2.98M
NOI $178,821 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A landscaped central court links distinct office sections with specialized work and training areas.
Where is this office building located?
The property is located at 1255 N VANTAGE POINT Crystal River, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Four interconnected office pavilions organized around a landscaped central court; 11,369 square feet on 1.88 acres; completed in 1984; 42 parking spaces across three parking areas, approximately 3.7 spaces per 1,000 square feet
