Freestanding Office
For Sale
$2,450,000
268 S Suncoast Blvd, Crystal River, FL 34429
Commercial Sale, Crystal River, FL
Property Size7,585 SF
Lot Size2.29 Acres
Price / SF$323.01
Days on Market54
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 3, Bathroom 1, Bathroom 5
Exterior features
Generator
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
(770) 733-2596
Added: Aug 3
Changed: Sep 25
Last Checked: Sep 25 at 5:06AM
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.
The freestanding office building contains 7,585 square feet across approximately 19 rooms. Its layout includes private offices, several larger rooms suited to conferences or training, two reception or lobby areas, storage rooms, and five restrooms. Hardwood flooring, custom wood cabinetry, built-ins, detailed millwork, and a generator are among the property’s features. The site encompasses 2.29 acres and is zoned Commercial GNC.
The property fronts US Highway 19, also known as Suncoast Boulevard, with approximately 200 feet along the highway. More than 25 private parking spaces are available. The Suncoast Parkway/State Road 589 is approximately six miles away, and Crystal River Airport is about two minutes from the property. Tampa International Airport is described as within commuting distance.
The property fronts US Highway 19, also known as Suncoast Boulevard, with approximately 200 feet along the highway. More than 25 private parking spaces are available. The Suncoast Parkway/State Road 589 is approximately six miles away, and Crystal River Airport is about two minutes from the property. Tampa International Airport is described as within commuting distance.
Key Highlights
- 7,585‑square‑foot freestanding office building with approximately 19 rooms
- 2.29‑acre site zoned Commercial GNC
- Approximately 200 feet of frontage on US Highway 19/Suncoast Boulevard
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
$79,870
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
3.26%
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%
$1,597,400
$1.6M
Cap Rate 7%
$1,141,000
$1.1M
Cap Rate 9%
$887,444
$887.4K
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
$136.5K $18.00/SF
− Vacancy
−$30.0K −$3.96/SF
EGI
$106.5K $14.04/SF
− OpEx
−$26.6K −$3.51/SF
NOI
$79.9K $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%
$1,597,400
Cap Rate 7%
$1,141,000
Cap Rate 9%
$887,444
Alternative Uses
Best Use
Office B
$1.14M
$998.4K – $1.33M
NOI $79,870 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
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
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
69
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Office building - A flexible office layout includes private rooms, larger meeting spaces, two reception areas, and on-site parking.
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: 7,585‑square‑foot freestanding office building with approximately 19 rooms; 2.29‑acre site zoned Commercial GNC; Approximately 200 feet of frontage on US Highway 19/Suncoast Boulevard
