Freestanding Office
New
For Sale
$2,450,000
268 S Suncoast Blvd, Crystal River, FL 34429
COMMERCIAL - Crystal River, FL
Property Size7,585 SF
Lot Size2.29 Acres
Price / SF$323.01
Days on Market6
Property Features for 268 S Suncoast Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 4, Bathroom 1, Bathroom 3, Bathroom 5
High school district
000000
Standard status
Active
APN
000000-000.000-0000-000.000
Lot size
2.29 Acres
Building Details
Year built
1990
Flooring type
Hardwood
Listing Agency:
GAILEY ENTERPRISES REAL ESTATE
(352) 897-2018
Listed By:
Rhonda Gailey · License #3395648
(352) 897-2018
Added: Aug 3
Changed: Aug 7
Last Checked: Aug 8 at 2:06PM
MLS# 11925013
Copyright © 2026 My State MLS. 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 freestanding office property occupies 2.29 acres along US Highway 19/Suncoast Boulevard and includes approximately 19 rooms arranged for varied commercial operations. The interior provides private offices, larger rooms suitable for meetings or training, two reception areas, storage rooms, and five restrooms. Hardwood flooring, custom wood cabinetry, built-ins, and detailed millwork add to the existing improvements. More than 25 private parking spaces are available on site.
Approximately 200 feet of highway frontage provides direct exposure on US Highway 19. The property is about six miles from the extended Suncoast Parkway/State Road 589 and approximately two minutes from Crystal River Airport. Commercial GNC zoning is in place, and Citrus County approval may support uses such as professional or medical offices, corporate headquarters, financial services, showroom operations, real estate brokerage, or training facilities.
Approximately 200 feet of highway frontage provides direct exposure on US Highway 19. The property is about six miles from the extended Suncoast Parkway/State Road 589 and approximately two minutes from Crystal River Airport. Commercial GNC zoning is in place, and Citrus County approval may support uses such as professional or medical offices, corporate headquarters, financial services, showroom operations, real estate brokerage, or training facilities.
Key Highlights
- 2.29‑acre office property on US Highway 19/Suncoast Boulevard
- Approximately 200 feet of frontage along US Highway 19
- Approximately 19 rooms, including private offices and larger meeting or training rooms
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
$106,065
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
4.33%
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%
$2,121,300
$2.1M
Cap Rate 7%
$1,515,214
$1.5M
Cap Rate 9%
$1,178,500
$1.2M
Market Conditions
NOI Build-Up for 7,585 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
$197.5K $26.04/SF
− Vacancy
−$20.7K −$2.73/SF
EGI
$176.8K $23.31/SF
− OpEx
−$70.7K −$9.32/SF
NOI
$106.1K $13.98/SF
Area
Citrus County, FL
Vacancy
10.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$2,121,300
Cap Rate 7%
$1,515,214
Cap Rate 9%
$1,178,500
Alternative Uses
Best Use
Healthcare Medical
$1.52M
$1.33M – $1.77M
NOI $106,065 @ 7.0% cap · market cap 4.33%
Second Best
Office B
$1.14M
$998.4K – $1.33M
NOI $79,870 @ 7.0% cap · market cap 3.26%
Theoretical Best
Specialty Retail
$1.70M
$1.49M – $1.99M
NOI $119,303 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
998
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Commercial GNC zoning accompanies private rooms, reception areas, storage areas, and five restrooms.
Where is this office building located?
The property is located at 268 S Suncoast Blvd Crystal River, FL.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 2.29‑acre office property on US Highway 19/Suncoast Boulevard; Approximately 200 feet of frontage along US Highway 19; Approximately 19 rooms, including private offices and larger meeting or training rooms
