Multi-Tenant Mixed-Use
For Sale
$800,000
1298 E Norvell Bryant Hwy, Hernando, FL 34442
Updated commercial center combining professional office and retail space under GNC Commercial zoning.
Property Size5,903 SF
Lot Size0.88 Acres
Price / SF$135.57
Days on Market48
Property Features for 1298 E Norvell Bryant Hwy
General Information
Standard status
Active
Size
5,903 SF
Lot size
0.88 Acres
Zoning
GNC Commercial
Occupancy
90%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
6
Building Details
Year Built
2007
Buildings
1
Building Size
5,903 SF
Construction
CBS
Tenancy
Multi
Listing Agency:
CENTURY 21 J.W.MORTON R.E.
Listed By:
Elias Kirallah · License #BK3123414
(352) 400-2635
Source:
Livewelltampabay
Added: Aug 20
Changed: Oct 2
Last Checked: Oct 5 at 11:27PM
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 R.E.
Investment Insights
Based on property information with market context.
Constructed in 2007, this 5,903 SF mixed-use building contains six units on approximately 0.88 acres. The property is approximately 90% occupied and combines professional office and retail space, with a configuration that also accommodates medical offices, restaurants, and other commercial businesses under GNC Commercial zoning. Building features include a stacked-stone and stucco exterior, floor-to-ceiling retail glazing, and updated interior finishes.
The property is located at 1298 E Norvell Bryant in Hernando, Florida, within Citrus County. Lecanto, Beverly Hills, Downtown Crystal River, Homosassa, and Inverness are each described as being within a 15-minute drive. Regional access includes the Suncoast Parkway, SR 589, with Tampa International Airport approximately 55 minutes away. BikeScore is 25 and WalkScore is 5, reflecting a car-dependent setting.
The property is located at 1298 E Norvell Bryant in Hernando, Florida, within Citrus County. Lecanto, Beverly Hills, Downtown Crystal River, Homosassa, and Inverness are each described as being within a 15-minute drive. Regional access includes the Suncoast Parkway, SR 589, with Tampa International Airport approximately 55 minutes away. BikeScore is 25 and WalkScore is 5, reflecting a car-dependent setting.
Key Highlights
- 5,903 SF building with six commercial units
- Approximately 90% occupied
- Approximately 0.88 acres with GNC Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,138
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,242,760
$1.2M
Cap Rate 7%
$887,686
$887.7K
Cap Rate 9%
$690,422
$690.4K
Market Conditions
NOI Build-Up for 5,901 SF
Gross rent
$106.2K $18.00/SF
− Vacancy
−$23.4K −$3.96/SF
EGI
$82.9K $14.04/SF
− OpEx
−$20.7K −$3.51/SF
NOI
$62.1K $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%
$1,242,760
Cap Rate 7%
$887,686
Cap Rate 9%
$690,422
Alternative Uses
Best Use
Office B
$887.7K
$776.7K – $1.04M
NOI $62,138 @ 7.0% cap · market cap 7.77%
Second Best
Retail
$809.9K
$708.7K – $944.9K
NOI $56,694 @ 7.0% cap · market cap 7.09%
Theoretical Best
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,816 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Office units
90%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
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
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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?
Mixed-use property - Updated commercial center combining professional office and retail space under GNC Commercial zoning.
Where is this mixed-use property located?
The property is located at 1298 E Norvell Bryant Hwy 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 building with six commercial units; Approximately 90% occupied; Approximately 0.88 acres with GNC Commercial zoning
