High-Ceiling Warehouse
For Sale
$1,300,000
Pending
3360 W Crigger Court, Lecanto, FL 34461
CommercialSale, Lecanto, FL
Property Size14,400 SF
Lot Size2.00 Acres
Days on Market405
Property Features for 3360 W Crigger Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IND
Parking features
Driveway, Parking Lot
Interior features
HighCeilings
Exterior features
BlacktopDriveway, PavedDriveway
Appliances
InstantHotWater
Subdivision
Not on List
Lot features
Acreage, Flat, Rectangular
Directions
Head South on Lecanto Highway 1/4 mile before the College Of Central Florida take a right on West Crigger Court, the property will be on your Left.
Standard status
Pending
APN
2254076
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
THE EAST 132 FEET OF THE WEST 792 FEET OF THE S 1/2 OF N 1/2OF NW 1/4 OF NE 1/4 OF SECTION 21, TOWNSHIP 19 SOUTH, RANGE18 EAST, BEING KNOWN AS LOT 3, OF AN UNRECORDED SUBDIVISION:
Tax Annual Amount
14575
Legal Description
THE EAST 132 FEET OF THE WEST 792 FEET OF THE S 1/2 OF N 1/2OF NW 1/4 OF NE 1/4 OF SECTION 21, TOWNSHIP 19 SOUTH, RANGE18 EAST, BEING KNOWN AS LOT 3, OF AN UNRECORDED SUBDIVISION:
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2008
Floors in Building
1
Flooring type
Concrete
Building materials
Steel, SteelSiding
Roof type
Metal
Additional Structures
Shed(s)
Listing Agency:
RE/MAX Realty One · RE/MAX International
(352) 527-7842
Listed By:
Kevin D Cunningham · License #655978
(352) 422-7547
Added: Jul 14, 2025
Changed: Aug 22
Last Checked: Aug 22 at 5:06PM
MLS# 846327
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.
This 14,400-square-foot warehouse was built in 2008 with a steel structure, steel siding, metal roofing, and concrete flooring. High ceilings support a range of storage, manufacturing, and distribution functions, while central air, electric cooling, and heat-pump heating provide building systems suited to ongoing operations.
The property occupies 2 acres at 3360 W Crigger Court in Lecanto, Florida. A blacktop and paved driveway provide site access, with a parking lot and additional driveway parking available. Public water and public sewer serve the property, and an instant hot water system is installed.
The property occupies 2 acres at 3360 W Crigger Court in Lecanto, Florida. A blacktop and paved driveway provide site access, with a parking lot and additional driveway parking available. Public water and public sewer serve the property, and an instant hot water system is installed.
Key Highlights
- 14,400‑square‑foot warehouse on 2 acres
- Built in 2008 with steel construction and steel siding
- High ceilings and concrete flooring
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
$104,652
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
8.05%
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%
$2,093,040
$2.1M
Cap Rate 7%
$1,495,029
$1.5M
Cap Rate 9%
$1,162,800
$1.2M
Market Conditions
NOI Build-Up for 14,400 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
$129.6K $9.00/SF
− Vacancy
−$6.5K −$0.45/SF
EGI
$123.1K $8.55/SF
− OpEx
−$18.5K −$1.28/SF
NOI
$104.7K $7.27/SF
Area
Citrus County, FL
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,093,040
Cap Rate 7%
$1,495,029
Cap Rate 9%
$1,162,800
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.74M
NOI $104,652 @ 7.0% cap · market cap 8.05%
Second Best
Industrial
$1.36M
$1.19M – $1.58M
NOI $94,875 @ 7.0% cap · market cap 7.30%
Theoretical Best
Specialty Retail
$3.24M
$2.83M – $3.77M
NOI $226,495 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34461, FL
11,388
Population
5,552
Households
2.1
Avg Household Size
58
Median Age
23%
College-Educated
92%
High-School Grad
45.8 sq mi
ZIP Area
249
Density / Sq Mi
$60,795
Median Household Income
$33,825
Median Earnings
$1,190
Median Rent
$287,200
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - Steel warehouse with concrete floors, paved access, and public utilities in Lecanto.
Where is this warehouse located?
The property is located at 3360 W Crigger Court Lecanto, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 14,400‑square‑foot warehouse on 2 acres; Built in 2008 with steel construction and steel siding; High ceilings and concrete flooring
