Flex Space with Four Grade-Level
For Sale
$525,000
6680 W Gulf To Lake Highway, Crystal River, FL 34429
SINGLE_FAMILY - Crystal River, FL
Property Size6,523 SF
Lot Size0.99 Acres
Price / SF$80.48
Days on Market185
Property Features for 6680 W Gulf To Lake Highway
General Information
Property type
Residential
Property subtype
Retail
Zoning
GNC
Parking
16
Parking features
Parking Lot
Interior features
HighCeilings
Subdivision
Not on List
Lot features
Flat, Trees
Directions
From Crystal River, head East on Highway 44 for 2.6 Miles and you should reach your destination on the right side of the steet.
Standard status
Active
APN
1112621
Lot size
0.99 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MAYFAIR GARDEN ACRES PT OF LOTS 20 & 21 BLK I DESC AS FOLLOWS: COMM AT MOST N'LY CRN OF LOT 21 BLK I TH S 57DEG 55M W AL THE NW'LY LN OF SD LT 21 341.90 FT TH S 12DEG 05M E 135FT THN N 57DEG 55M E PARL TO NW'LY LN 341.90FT TO PT ON NE'LY LN OF LOT 20 BLK I OF SD PLAT THN N 32DEG 05M W ALG NE'LY LN & ALG NE'LY LN OF SD LOT 21 135FT TO POB FURTHER DESCIN OR BK 1228 PG 1742 & OR BK 1625 PG 619 & OR BK 1658 PG 2335
Tax Annual Amount
6693
Legal Description
MAYFAIR GARDEN ACRES PT OF LOTS 20 & 21 BLK I DESC AS FOLLOWS: COMM AT MOST N'LY CRN OF LOT 21 BLK I TH S 57DEG 55M W AL THE NW'LY LN OF SD LT 21 341.90 FT TH S 12DEG 05M E 135FT THN N 57DEG 55M E PARL TO NW'LY LN 341.90FT TO PT ON NE'LY LN OF LOT 20 BLK I OF SD PLAT THN N 32DEG 05M W ALG NE'LY LN & ALG NE'LY LN OF SD LOT 21 135FT TO POB FURTHER DESCIN OR BK 1228 PG 1742 & OR BK 1625 PG 619 & OR BK 1658 PG 2335
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Public
Amenities
roll-up doors
pull-through functionality
15' clear ceiling height
single-phase electrical
three-phase electrical
Building Details
Year built
1983
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Concrete, Steel, SteelSiding
Roof type
Asphalt, Shingle
Listing Agency:
Century 21 J.W.Morton R.E. · Century 21 Real Estate
(352) 726-6668
Listed By:
Elias Kirallah · License #3123414
(352) 400-2635
Added: Feb 6
Changed: Aug 1
Last Checked: Aug 10 at 1:06AM
MLS# 852059
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 single-story flex space sits on a 0.99-acre commercial parcel and includes an approximately 6,523 SF facility built in 1983. The building combines a front retail/office component with added service and warehouse/workspace space, plus a separate rear auto service garage/flex area. The SR 44-facing portion is demised into 1,258 SF of retail/office space and includes a 450 SF single-service garage/storage bay integrated into the main structure, connecting to an additional 765 SF of warehouse/workspace for a total of 2,023 SF within the primary building footprint. Behind the main building is a dedicated 4,500 SF auto service garage/flex warehouse with four wide grade-level roll-up doors, pull-through functionality, 15' clear ceiling height, and both single-phase and three-phase electrical panels.
The property is positioned directly on W Gulf to Lake Highway (SR 44) in Crystal River, with 135 feet of frontage and visibility/signage opportunity. SR 44 is reported at 17,500 AADT, with additional influence from the signalized intersection of CR 486 + SR 44 carrying 17,900 AADT, for an approximately 35,400 vehicles per day combined traffic influence.
Additional features include central air, concrete flooring, block/concrete/steel construction, asphalt/shingle roofing, and on-site parking. Utilities include public water and a septic tank sewer system, and the property is zoned GNC.
The property is positioned directly on W Gulf to Lake Highway (SR 44) in Crystal River, with 135 feet of frontage and visibility/signage opportunity. SR 44 is reported at 17,500 AADT, with additional influence from the signalized intersection of CR 486 + SR 44 carrying 17,900 AADT, for an approximately 35,400 vehicles per day combined traffic influence.
Additional features include central air, concrete flooring, block/concrete/steel construction, asphalt/shingle roofing, and on-site parking. Utilities include public water and a septic tank sewer system, and the property is zoned GNC.
Key Highlights
- Approximately 6,523 SF single‑story flex building on 0.99‑acre commercial parcel
- 135 feet of frontage on SR 44 with visibility and signage opportunity
- Front retail/office demised as 1,258 SF plus 450 SF garage/storage bay and 765 SF warehouse/workspace
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
$47,406
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
9.03%
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%
$948,120
$948.1K
Cap Rate 7%
$677,229
$677.2K
Cap Rate 9%
$526,733
$526.7K
Market Conditions
NOI Build-Up for 6,523 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
$58.7K $9.00/SF
− Vacancy
−$2.9K −$0.45/SF
EGI
$55.8K $8.55/SF
− OpEx
−$8.4K −$1.28/SF
NOI
$47.4K $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%
$948,120
Cap Rate 7%
$677,229
Cap Rate 9%
$526,733
Alternative Uses
Best Use
Flex RnD
$1.07M
$934.5K – $1.25M
NOI $74,762 @ 7.0% cap · market cap 14.24%
Second Best
Retail
$895.3K
$783.4K – $1.04M
NOI $62,670 @ 7.0% cap · market cap 11.94%
Theoretical Best
Specialty Retail
$1.47M
$1.28M – $1.71M
NOI $102,599 @ 7.0% cap · market cap 19.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
4
Drive-in doors
1
Service bays
17,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Under-served
Demand for This Use
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 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?
Flex space - Single-story flex warehouse with retail/office frontage on SR 44, plus an auto service garage behind the main building.
Where is this flex space located?
The property is located at 6680 W Gulf To Lake Highway Crystal River, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 6,523 SF single‑story flex building on 0.99‑acre commercial parcel; 135 feet of frontage on SR 44 with visibility and signage opportunity; Front retail/office demised as 1,258 SF plus 450 SF garage/storage bay and 765 SF warehouse/workspace
