Four-Pavilion Office
1255 N Vantage Point Drive, Crystal River, FL 34429
For Sale
$1,650,000
Under Contract
Commercial Sale, Crystal River, FL
Property Size11,369 SF
Lot Size1.88 Acres
Price / SF$145.13
Days on Market46
Property Features for 1255 N Vantage Point Drive
General Information
Property type
Property subtype
Zoning
Parking features
Lot features
Directions
Standard status
APN
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Cooling system
Water source
Amenities
landscaped central court
computer room
training suite
classroom
projection room
library
lounge
conference room
locker and shower areas
Building Details
Year built
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
CENTURY 21 J.W.MORTON R.E. · Century 21 Real Estate
(352) 726-6668
Listed By:
Elias Kirallah · License FL BK3123414
(352) 400-2635
Added: Sep 28
Changed: Nov 10
Last Checked: Nov 12 at 9:06AM
MLS# CC858238
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 11,369-square-foot office property occupies 1.88 acres and comprises four connected pavilions arranged around a landscaped court. Completed in 1984, the Mid-Century Modern campus was designed by Hal Thomas Reid Associates, P.A. Interior spaces include a training suite with classroom and projection room, a conference room, executive offices, and open work areas. One pavilion has raised flooring and dedicated cooling for a computer room. Public water and sewer serve the site, which has 42 parking spaces across three areas.
The property is in Meadowcrest Office Park in Crystal River, with access to SR 44 and the Suncoast Parkway corridor. Lecanto, Downtown Crystal River, Beverly Hills, and Inverness are each within a 10-minute drive. Zoning is PDR.
The property is in Meadowcrest Office Park in Crystal River, with access to SR 44 and the Suncoast Parkway corridor. Lecanto, Downtown Crystal River, Beverly Hills, and Inverness are each within a 10-minute drive. Zoning is PDR.
Key Highlights
- 11,369 square feet of office space on 1.88 acres
- Four interconnected pavilions grouped around a landscaped court
- 42 parking spaces in three separate parking areas
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
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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
Properties on Market for Office buildings in Citrus County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Four connected office buildings provide distinct work areas, shared facilities, and a landscaped central court.
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 feet of office space on 1.88 acres; Four interconnected pavilions grouped around a landscaped court; 42 parking spaces in three separate parking areas
