Mixed-Use Property with
New
For Sale
$550,000
4051 D Street, Cedar Key, FL 32625
Residential Income, CEDAR KEY, FL
Property Size2,036 SF
Lot Size0.29 Acres
Price / SF$270.14
Days on Market3
Property Features for 4051 D Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MIXED USE
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 3, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bathroom 2
Parking features
Golf Cart, Open, Off Street
Interior features
Ceiling Fans(s)
Exterior features
Balcony
Basement
Exterior Entry
Subdivision
MAP OF SOUTHERN PART OF CEDAR KEY
Lot features
City Limits, Oversized Lot, Rolling Slope, Paved
View
Water, City
Directions
Head W SW on State Road 24 into Cedar Key. Once you cross the first bridge onto the island the destination will be about 1 mile ahead on your left.
Standard status
Active
APN
0865000000
Size
2,036 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax 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
Tax Annual Amount
9290
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
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front
1
Building Details
Year built
1945
Floors in Building
2
Building materials
Frame, Wood Siding
Roof type
Metal
Listing Agency:
CMTG REAL ESTATE GROUP
(863) 698-7990
Listed By:
Gena Bullard · License #3525285
(863) 450-7399
Added: Aug 24
Changed: Aug 26
Last Checked: Aug 26 at 2:06PM
MLS# OM730985
Copyright © 2026 Stellar 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.
Located at 4051 D Street in Cedar Key, this 2,036-square-foot mixed-use property combines an operating property management office with four residential units. The residential layout includes a detached two-bedroom, one-bath home with a bathtub, two one-bedroom, one-bath units with showers, and another two-bedroom, one-bath unit with a shower. A balcony, ceiling fans, central heating and cooling, metal roofing, and wood-frame construction are among the property features.
The property occupies 0.29 acres in Cedar Key, Florida, and is served by public water and public sewer. Open and off-street parking is provided, including golf cart parking. The building has also previously been used as a coffee shop and veterinary office, demonstrating a documented history of varied commercial use. Commercial applications remain subject to applicable zoning and approvals under the MIXED USE designation.
The property occupies 0.29 acres in Cedar Key, Florida, and is served by public water and public sewer. Open and off-street parking is provided, including golf cart parking. The building has also previously been used as a coffee shop and veterinary office, demonstrating a documented history of varied commercial use. Commercial applications remain subject to applicable zoning and approvals under the MIXED USE designation.
Key Highlights
- 2,036 SF mixed‑use property at 4051 D Street, Cedar Key, FL 32625
- Four residential units: two 2‑bedroom units and two 1‑bedroom units
- Currently operating as a property management office
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 - Four residential units accompany a property management office, with prior coffee shop and veterinary office 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 SF mixed‑use property at 4051 D Street, Cedar Key, FL 32625; Four residential units: two 2‑bedroom units and two 1‑bedroom units; Currently operating as a property management office
