Office Building with Multi-Room
638 NE 1st Street Crystal River, FL 34429
For Sale
$575,000
Commercial office building offering multiple rooms for a variety of business uses in a high-visibility area.
Property Size2,476 SF
Price / SF$232.23
Days on Market8
Property Features for 638 NE 1st Street
General Information
Standard status
Active
Size
2,476 SF
Property subtype
Office
Building Details
Year Built
1935
Listing Agency:
Continental Real Estate Group Inc
(201) 803-5250
Listed By:
Derek Eisenberg · License #3201465
(201) 803-5250
Source:
Xome
Added: Jul 22
Changed: Jul 29
Last Checked: Jul 29 at 7:23AM
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 Continental Real Estate Group Inc
Investment Insights
Based on property information with market context.
This commercial office building at 638 NE 1st Street offers a generous interior layout with multiple rooms, providing flexibility for a range of business needs. The property is described as never flooded during storms and sits on high ground.
The building is positioned in a high-visibility area intended to support customer access and business exposure. It is offered for sale as a versatile option for companies seeking an adaptable space in Crystal River, Florida.
The building is positioned in a high-visibility area intended to support customer access and business exposure. It is offered for sale as a versatile option for companies seeking an adaptable space in Crystal River, Florida.
Key Highlights
- Commercial office building built in 1935 with multiple rooms for a variety of business uses
- Central air with electric cooling and tile and wood flooring throughout
- Asphalt shingle roof
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.6k | $18.00 |
| − Vacancy | −$9.8k | −$3.96 |
| EGI | $34.8k | $14.04 |
| − OpEx | −$8.7k | −$3.51 |
| NOI | $26.1k | $10.53 |
2,476 SF · lease $18.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$372.5K
$325.9K – $434.5K
NOI $26,072 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$556.4K
$486.8K – $649.1K
NOI $38,945 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Commercial office building offering multiple rooms for a variety of business uses in a high-visibility area.
Where is this office building located?
The property is located at 638 NE 1st Street Crystal River, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Commercial office building built in 1935 with multiple rooms for a variety of business uses; Central air with electric cooling and tile and wood flooring throughout; Asphalt shingle roof
