Freestanding Office Building with Highway
New
For Sale
$2,450,000
268 S SUNCOAST BOULEVARD, Crystal River, FL 34429
Zoned Commercial GNC with a flexible layout, private offices, reception areas, storage, and parking for a range of business operations.
Property Size7,585 SF
Lot Size2.29 Acres
Price / SF$247.18
Days on Market6
Property Features for 268 S SUNCOAST BOULEVARD
General Information
Standard status
Active
Size
7,585 SF
Lot size
2.29 Acres
Property subtype
Office
Zoning
Commercial GNC
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
2.29 acres, Dimensions: 200x500, Wooded
Septic Tank
Additional parcels description:, Parcel Number: 17E-19S-03-0000-43310-0010, Public Survey Range: 17E, Public Survey Section: 3, Annual Amount: $15,427.9, Tax Block: 43310, Tax Book Number: 0/0, Legal Description: COM AT SW COR OF NW1/4 OF NW1/4 FOR A PT OF REF: TH N 89 DEG47M 39S E AL S LN OF NW1/4 OF NW1/4 738.38 FT TO CONCRETE MONUMENT & POB. TH CONT N 89 DEG 47M 39S E AL S LN A DIST OF500 FT TO A CONCRETE MONUMENT ON THE W R/W LN OF US HWY 19,TH S 0 DEG 1M 21S W AL W R/W LN 200 FT TO A CONRETE MONUMENTTH LEAVING SD W R/W LN RUN S 89 DEG 47M 39S W PAR TO S LN OF NW1/4 OF NW1/4 500 FT TO A CONCRETE MONUMENT, TH N 0 DEG 1M 21S E PAR TO SD W R/W LN A DIST OF 200 FT TO POB DESC IN OR BK 806 PG 125, Lot: 10, Year: 2025, Zoning: GNC
Carpet, Ceramic Tile
Central Air
Central, Electric
Listing ID: MFROM729724, Standard Status: Active, MLS Status: Active, Property Subtype: Office, On market as of 2026-08-04, Special Conditions: None
Double Pane Windows
Built in 1990, Living area: 7596, Living area units: Square Feet, 2 stories, Levels: Two, Construction Materials: Block, Concrete, Stucco
Subdivision: AUNGUST UNREC AKA KIMBERLY ESTATES UNREC, MLS Area (Major): 34429 - Crystal River, County/Parish: Citrus
Water Source: Public, Generator
Block
Frontage Type: County Road, Road Surface: Paved
Building Details
Year Built
1990
Buildings
1
Building Size
7,585 SF
Listing Agency:
GAILEY ENTERPRISES REAL ESTATE
(770) 733-2596
Listed By:
Rhonda Gailey · License #3395648
Source:
Miharaandassociates
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 4:44AM
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 GAILEY ENTERPRISES REAL ESTATE
Investment Insights
Based on property information with market context.
This freestanding office building, constructed in 1990, contains approximately 7,585 square feet arranged across approximately 19 rooms. The interior includes private offices, larger rooms suitable for conferences or training, two reception or lobby areas, storage rooms, five restrooms, upgraded flooring, custom wood cabinetry, built-ins, and detailed millwork. More than 25 private parking spaces serve the property.
The site encompasses 2.29 acres with approximately 200 feet along US Highway 19/Suncoast Boulevard in Crystal River. Commercial GNC zoning and Citrus County approval support potential use for corporate headquarters, professional or medical offices, a financial institution, showroom, brokerage, training facility, or other commercial operations. Suncoast Parkway/State Road 589 is approximately six miles away, and Crystal River Airport is approximately two minutes from the property.
The site encompasses 2.29 acres with approximately 200 feet along US Highway 19/Suncoast Boulevard in Crystal River. Commercial GNC zoning and Citrus County approval support potential use for corporate headquarters, professional or medical offices, a financial institution, showroom, brokerage, training facility, or other commercial operations. Suncoast Parkway/State Road 589 is approximately six miles away, and Crystal River Airport is approximately two minutes from the property.
Key Highlights
- 2.29‑acre office property with approximately 200 feet of US Highway 19 frontage
- Approximately 7,585‑square‑foot freestanding office building
- Approximately 19 rooms, including private offices and larger conference 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
$138,604
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
5.66%
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%
$2,772,080
$2.8M
Cap Rate 7%
$1,980,057
$2.0M
Cap Rate 9%
$1,540,044
$1.5M
Market Conditions
NOI Build-Up for 9,912 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
$258.1K $26.04/SF
− Vacancy
−$27.1K −$2.73/SF
EGI
$231.0K $23.31/SF
− OpEx
−$92.4K −$9.32/SF
NOI
$138.6K $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%
$2,772,080
Cap Rate 7%
$1,980,057
Cap Rate 9%
$1,540,044
Alternative Uses
Best Use
Healthcare Medical
$1.98M
$1.73M – $2.31M
NOI $138,604 @ 7.0% cap · market cap 5.66%
Second Best
Office B
$1.49M
$1.30M – $1.74M
NOI $104,373 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $155,904 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Zoned Commercial GNC with a flexible layout, private offices, reception areas, storage, and parking for a range of business operations.
Where is this office building located?
The property is located at 268 S SUNCOAST BOULEVARD 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 with approximately 200 feet of US Highway 19 frontage; Approximately 7,585‑square‑foot freestanding office building; Approximately 19 rooms, including private offices and larger conference or training rooms
