Four-Pavilion Office
New
For Sale
$1,650,000
1255 N Vantage Point Drive, Crystal River, FL 34429
CommercialSale, Crystal River, FL
Property Size11,369 SF
Lot Size1.88 Acres
Price / SF$145.13
Days on Market6
Property Features for 1255 N Vantage Point Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
PDR
Interior features
HighCeilings
Subdivision
Not on List
Lot features
Corner Lot, Flat, Trees
Directions
From downtown Crystal River head South-East via FL-44 for 3.4 Miles then turn left on to N Meeting Tree Blvd for 0.2 Miles and you should reach your destination on the right side.
Standard status
Active
APN
2425342
Lot size
1.88 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MEADOWCREST OFFICE PARK PB 12 PG 106 LOT 1
Tax Annual Amount
20948
Legal Description
MEADOWCREST OFFICE PARK PB 12 PG 106 LOT 1
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
landscaped central court
raised access flooring
dedicated cooling
secure vault
training suite
classroom
projection room
library
lounge
conference room
locker and shower areas
Building Details
Year built
1984
Floors in Building
1
Flooring type
Carpet, Wood, Tile
Building materials
Stucco
Roof type
Shingle, Asphalt
Listing Agency:
Century 21 J.W.Morton R.E. · Century 21 Real Estate
(352) 726-6668
Listed By:
Elias Kirallah · License #3123414
(352) 400-2635
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 3 at 1:06PM
MLS# 858238
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.
Completed in 1984, this 11,369-square-foot office property comprises four diagonally arranged pavilions linked around a landscaped court. Interior spaces include executive offices, open work areas, a conference room, and a training suite with classroom, projection room, library, and lounge. One pavilion has raised access flooring and dedicated cooling in its computer room, plus an adjoining secure vault. Locker and shower facilities are also on site. Construction is stucco, with central air conditioning and carpet, tile, and wood flooring.
The 1.88-acre 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 parking areas. Zoning is PDR.
The 1.88-acre 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 parking areas. Zoning is PDR.
Key Highlights
- 11,369‑square‑foot office campus with four linked pavilions
- 1.88 acres in Meadowcrest Office Park, Crystal River
- 42 parking spaces across three parking areas
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
$119,716
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
7.26%
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%
$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
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
$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 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%
$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
Lease Details
Yes
Highway access
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Four connected office buildings provide separate work areas alongside shared training, conference, and executive spaces.
Where is this office building located?
The property is located at 1255 N Vantage Point Drive 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: 11,369‑square‑foot office campus with four linked pavilions; 1.88 acres in Meadowcrest Office Park, Crystal River; 42 parking spaces across three parking areas
