Freestanding Bank Building with
For Sale
$2,250,000
2455 N Citrus Hills Boulevard, Hernando, FL 34442
SINGLE_FAMILY - Hernando, FL
Property Size9,071 SF
Lot Size3.01 Acres
Price / SF$248.04
Days on Market161
Property Features for 2455 N Citrus Hills Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
GNC
Parking features
Driveway
Exterior features
BlacktopDriveway
Subdivision
Citrus Hills
Lot features
Corner Lot
Standard status
Active
APN
3403981
Lot size
3.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITRUS HILLS 1ST ADD PB 9 PG 73 LOT 1 LESS N 10 FT THEREOF (PCL 104 CR486) & LOT 3 BLK 12 SUBJ TO TEMP CONSTR EASE OVER N 10 FT OF LOT 3 BLK 12 AS PER OR BK 1655 PG 240 AND TOGETHER WITH EASE OF RECORD TITLE IN OR BK 2044 PG 1824 ---AND--- CITRUS HIL LS SOUTHEAST PB 18 PG 63 ((A REPLAT OF LOTS 2&4 BLK 12 CITRUS HILLS 1ST ADD PB 9/73)) LOT 2A TITLE IN OR BK 2083 PG 2054
Tax Annual Amount
31808
Legal Description
CITRUS HILLS 1ST ADD PB 9 PG 73 LOT 1 LESS N 10 FT THEREOF (PCL 104 CR486) & LOT 3 BLK 12 SUBJ TO TEMP CONSTR EASE OVER N 10 FT OF LOT 3 BLK 12 AS PER OR BK 1655 PG 240 AND TOGETHER WITH EASE OF RECORD TITLE IN OR BK 2044 PG 1824 ---AND--- CITRUS HIL LS SOUTHEAST PB 18 PG 63 ((A REPLAT OF LOTS 2&4 BLK 12 CITRUS HILLS 1ST ADD PB 9/73)) LOT 2A TITLE IN OR BK 2083 PG 2054
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
drive-thru
signage ability
Building Details
Year built
1994
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
Block, Concrete
Roof type
Metal
Listing Agency:
RE/MAX Realty One · RE/MAX International
(352) 527-7842
Listed By:
Kevin Cunningham · License #655978
(352) 422-7547
Added: Mar 10
Changed: Aug 12
Last Checked: Aug 17 at 11:06AM
MLS# 853021
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.
Freestanding commercial bank building on a 3.01-acre corner lot, constructed in 1994 with solid masonry (block and concrete). The building is approximately 9,071 SF and includes partitioned offices, expansive open areas, central A/C and heating, and a fully equipped sprinkler system. Flooring includes carpet and tile, with a metal roof. Site improvements include a blacktop driveway and public utilities (public water and public sewer).
The property features a 2-lane drive-thru and 38 dedicated parking spaces. It is positioned for signage on N Citrus Hills Boulevard, and the property is zoned GNC. Approved/permitted uses listed include financial institutions, retail centers, professional/medical offices, daycares, and a restaurant. One wing of the building is currently leased to a local business.
The property features a 2-lane drive-thru and 38 dedicated parking spaces. It is positioned for signage on N Citrus Hills Boulevard, and the property is zoned GNC. Approved/permitted uses listed include financial institutions, retail centers, professional/medical offices, daycares, and a restaurant. One wing of the building is currently leased to a local business.
Key Highlights
- 3.01‑acre corner lot with strong signage exposure on N Citrus Hills Boulevard
- Approximately 9,071 SF freestanding building built in 1994
- 2‑lane drive‑thru plus blacktop driveway
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
$142,676
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
6.34%
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%
$2,853,520
$2.9M
Cap Rate 7%
$2,038,229
$2.0M
Cap Rate 9%
$1,585,289
$1.6M
Market Conditions
NOI Build-Up for 9,071 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
$199.2K $21.96/SF
− Vacancy
−$9.0K −$0.99/SF
EGI
$190.2K $20.97/SF
− OpEx
−$47.6K −$5.24/SF
NOI
$142.7K $15.73/SF
Area
Citrus County, FL
Vacancy
4.50%
Lease Rate
$21.96 /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%
$2,853,520
Cap Rate 7%
$2,038,229
Cap Rate 9%
$1,585,289
Alternative Uses
Best Use
Specialty Retail
$2.04M
$1.78M – $2.38M
NOI $142,676 @ 7.0% cap · market cap 6.34%
Second Best
Office B
$1.36M
$1.19M – $1.59M
NOI $95,518 @ 7.0% cap · market cap 4.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
130
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
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?
Bank - Freestanding masonry bank building with a 2-lane drive-through, central HVAC, and strong signage on a corner lot.
Where is this bank located?
The property is located at 2455 N Citrus Hills Boulevard Hernando, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 3.01‑acre corner lot with strong signage exposure on N Citrus Hills Boulevard; Approximately 9,071 SF freestanding building built in 1994; 2‑lane drive‑thru plus blacktop driveway
