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New
For Sale
$800,000
1298 E Norvell Bryant Highway, Hernando, FL 34442
CommercialSale, Hernando, FL
Property Size6,048 SF
Lot Size0.88 Acres
Price / SF$135.52
Days on Market4
Property Features for 1298 E Norvell Bryant Highway
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
GNC
Parking
24
Parking features
Parking Lot, Driveway
Exterior features
PavedDriveway
Subdivision
Not on List
Lot features
Cleared, Flat
Directions
From Downtown Hernando, head West on E Norvell Bryant Hwy for 2.3 Miles and you should reach your destination on the left side of the street.
Standard status
Active
APN
3230643
Lot size
0.88 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HERCALA ACRES UNIT 2 PT OF LOT 161 FURTHER DESC AS: COM AT NW COR OF LT 86 OF SD PLAT TH S 71DEG 57M 34S E AL S'LY R/W LN OF CO RD 486 592.75 FT TO THE BEG OF A TANGENT CURVE CONCAVED NE'LY HAVING A RADIUS OF 2914.93 FT A CENTRAL ANGLE OF 18DEG 05M 2 0S TH AL ARC OF SD CURVE 135.39 FT THROUGH A CENTRAL ANGLE OF 02DEG 39M 40S (CHORD BEARING AND DISTANCE BETWEEN SD PTS BEING S 73DEG 17M 24S E 135.98 FT) TO POB TH CONT AL SD CURVE 150 FT THROUGH A CENTRAL ANGLE OF 02DEG 56M 54S (CHORD BEARING AND DI STANCE BETWEEN SD PTS BEING S 76DEG 05M 41S E 149.98 FT) TH S 300 FT TH N 76DEG 05M 41S W 149.98 FT TH N 300 FT TO POB THE BEARINGS HEREIN REFERRED TO THE BEARING (S 71DEG 57M 34S E ) OF N LN OF LT 86 DESC IN OR BK 1346 PG 1724 & OR BK 1518 PG 1131
Tax Annual Amount
7595
Legal Description
HERCALA ACRES UNIT 2 PT OF LOT 161 FURTHER DESC AS: COM AT NW COR OF LT 86 OF SD PLAT TH S 71DEG 57M 34S E AL S'LY R/W LN OF CO RD 486 592.75 FT TO THE BEG OF A TANGENT CURVE CONCAVED NE'LY HAVING A RADIUS OF 2914.93 FT A CENTRAL ANGLE OF 18DEG 05M 2 0S TH AL ARC OF SD CURVE 135.39 FT THROUGH A CENTRAL ANGLE OF 02DEG 39M 40S (CHORD BEARING AND DISTANCE BETWEEN SD PTS BEING S 73DEG 17M 24S E 135.98 FT) TO POB TH CONT AL SD CURVE 150 FT THROUGH A CENTRAL ANGLE OF 02DEG 56M 54S (CHORD BEARING AND DI STANCE BETWEEN SD PTS BEING S 76DEG 05M 41S E 149.98 FT) TH S 300 FT TH N 76DEG 05M 41S W 149.98 FT TH N 300 FT TO POB THE BEARINGS HEREIN REFERRED TO THE BEARING (S 71DEG 57M 34S E ) OF N LN OF LT 86 DESC IN OR BK 1346 PG 1724 & OR BK 1518 PG 1131
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
1
Flooring type
Laminate, 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: Aug 19
Last Checked: Aug 22 at 1:06AM
MLS# 857065
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.
This multi-tenant commercial center contains six units serving office and retail users. The 2007 CBS building has been updated and features a stacked-stone and stucco exterior, floor-to-ceiling retail glazing, laminate and tile flooring, central air, public water, and septic service. A paved parking lot and driveway support on-site access. The property is approximately 90% occupied and includes roughly 0.88 acres under GNC Commercial zoning.
Located in Hernando within Citrus County, the property is within a 15-minute drive of Lecanto, Beverly Hills, Downtown Crystal River, Homosassa, and Inverness. Regional access includes the Suncoast Parkway (SR 589), with Tampa International Airport approximately 55 minutes away. The zoning accommodates medical and professional offices, retail, restaurants, and other commercial businesses.
Located in Hernando within Citrus County, the property is within a 15-minute drive of Lecanto, Beverly Hills, Downtown Crystal River, Homosassa, and Inverness. Regional access includes the Suncoast Parkway (SR 589), with Tampa International Airport approximately 55 minutes away. The zoning accommodates medical and professional offices, retail, restaurants, and other commercial businesses.
Key Highlights
- 5,903 SF CBS building constructed in 2007
- Six‑unit commercial center with approximately 90% occupancy
- Approximately 0.88 acres with GNC Commercial zoning
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
$62,159
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
7.77%
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%
$1,243,180
$1.2M
Cap Rate 7%
$887,986
$888.0K
Cap Rate 9%
$690,656
$690.7K
Market Conditions
NOI Build-Up for 5,903 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
$106.3K $18.00/SF
− Vacancy
−$23.4K −$3.96/SF
EGI
$82.9K $14.04/SF
− OpEx
−$20.7K −$3.51/SF
NOI
$62.2K $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%
$1,243,180
Cap Rate 7%
$887,986
Cap Rate 9%
$690,656
Alternative Uses
Best Use
Office B
$888.0K
$777.0K – $1.04M
NOI $62,159 @ 7.0% cap · market cap 7.77%
Second Best
Retail
$810.2K
$708.9K – $945.2K
NOI $56,713 @ 7.0% cap · market cap 7.09%
Theoretical Best
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,847 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
90%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34442, FL
16,759
Population
9,852
Households
1.7
Avg Household Size
63
Median Age
27%
College-Educated
95%
High-School Grad
36.4 sq mi
ZIP Area
460
Density / Sq Mi
$55,473
Median Household Income
$36,864
Median Earnings
$965
Median Rent
$295,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Shopping center - Updated commercial center with office and retail suites, GNC zoning, and paved parking.
Where is this shopping center located?
The property is located at 1298 E Norvell Bryant Highway Hernando, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 5,903 SF CBS building constructed in 2007; Six‑unit commercial center with approximately 90% occupancy; Approximately 0.88 acres with GNC Commercial zoning
