Mixed-Use Property with 4
New
For Sale
$550,000
4051 D STREET, Cedar Key, FL 32625
Flexible property combining an operating office with four residential units and a documented history of varied commercial uses.
Property Size2,036 SF
Price / SF$270.14
Days on Market5
Property Features for 4051 D STREET
General Information
Standard status
Active
Size
2,036 SF
Property subtype
Duplex
Amenities
0.29 acres, City Limits, Oversized Lot, Rolling Slope, Paved
Metal
Public Sewer
Additional parcels description:, Parcel Number: 0865000000, Public Survey Range: 13, Public Survey Section: 32, Annual Amount: $9,289.8, Legal Description: 32-15-13 CEDAR KEY BLK 25 LOTS 13 THRU 16 & SUBMURGED LOTS 1 THRU 7 & LOTS 17 THRU 24 OR BOOK 1621 PAGE 317, Lot: 1-7, Year: 2025, Zoning: MIXED USE
Central Air
Central
Common Area
Listing ID: MFROM730985, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-08-26, 1 day on market, Special Conditions: None
Golf Cart Parking, Ground Level, Off Street, Open
Exterior Entry
6 total bedrooms
Built in 1945, Living area: 2036, Living area units: Square Feet, Levels: Multi/Split, Construction Materials: Frame, Wood Siding
Subdivision: MAP OF SOUTHERN PART OF CEDAR KEY, MLS Area (Major): 32625 - Cedar Key, County/Parish: Levy
City, Water
4 total bathrooms
Electricity Connected, Sewer Connected, Water Connected, Water Source: Public
Basement, Pillar/Post/Pier
Close Of Escrow
Canal - Saltwater
Road Surface: Concrete, Paved
Balcony
Ceiling Fans(s)
Building Details
Year Built
1945
Listing Agency:
CMTG REAL ESTATE GROUP
(863) 698-7990
Listed By:
Gena Bullard · License #3525285
Source:
Miharaandassociates
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 28 at 7:04AM
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 CMTG REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
Located at 4051 D Street in Cedar Key, this 2,036-square-foot mixed-use property was built in 1945 and currently operates as a property management office with four residential units. The accommodations include a detached two-bedroom, one-bath residence with a bathtub, two one-bedroom, one-bath units with showers, and another two-bedroom, one-bath unit with a shower.
The property has previously housed a coffee shop and a veterinary office, providing a documented record of varied commercial use. Its existing office and residential configuration supports consideration of rental housing, employee accommodations, professional office space, retail, hospitality, or a live-work arrangement, subject to applicable zoning and approvals.
The property has previously housed a coffee shop and a veterinary office, providing a documented record of varied commercial use. Its existing office and residential configuration supports consideration of rental housing, employee accommodations, professional office space, retail, hospitality, or a live-work arrangement, subject to applicable zoning and approvals.
Key Highlights
- 2,036‑square‑foot mixed‑use property built in 1945
- Four residential units with two- and one‑bedroom layouts
- Detached two‑bedroom, one‑bath residence included
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
$25,397
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
4.62%
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%
$507,940
$507.9K
Cap Rate 7%
$362,814
$362.8K
Cap Rate 9%
$282,189
$282.2K
Market Conditions
NOI Build-Up for 2,036 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
$40.3K $19.80/SF
− Vacancy
−$6.5K −$3.17/SF
EGI
$33.9K $16.63/SF
− OpEx
−$8.5K −$4.16/SF
NOI
$25.4K $12.47/SF
Area
Levy County, FL
Vacancy
16.00%
Lease Rate
$19.80 /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%
$507,940
Cap Rate 7%
$362,814
Cap Rate 9%
$282,189
Alternative Uses
Best Use
Office B
$362.8K
$317.5K – $423.3K
NOI $25,397 @ 7.0% cap · market cap 4.62%
Second Best
Mixed Use
$335.9K
$294.0K – $391.9K
NOI $23,516 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$504.3K
$441.2K – $588.3K
NOI $35,299 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 32625, FL
1,620
Population
1,262
Households
1.3
Avg Household Size
59
Median Age
40%
College-Educated
92%
High-School Grad
94.0 sq mi
ZIP Area
17
Density / Sq Mi
$59,036
Median Household Income
$50,729
Median Earnings
$918
Median Rent
$267,200
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?
Mixed-use property - Flexible property combining an operating office with four residential units and a documented history of varied commercial uses.
Where is this mixed-use property located?
The property is located at 4051 D STREET Cedar Key, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,036‑square‑foot mixed‑use property built in 1945; Four residential units with two- and one‑bedroom layouts; Detached two‑bedroom, one‑bath residence included
