Mixed-Use Retail and
For Sale
Contact for pricing
6991 W Cardinal St, Homosassa, FL 34446
Versatile building with connected residence and commercial space plus separate restrooms and parking for more than 20 vehicles.
Property Size4,636 SF
Lot Size1.00 Acre
Price / SF$210.31
Days on Market52
Property Features for 6991 W Cardinal St
General Information
Standard status
Active
Size
4,636 SF
Total Parking Spaces
20
Lot size
1.00 Acre
Property subtype
OFFICE
Site & Location
Traffic Count
28,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Listing Agency:
Century 21 J.W. Morton Real Estate, Inc.
Listed By:
Thao Le · License #3390499
(352) 586-3666
Source:
Moodyscre
Added: Jul 23
Changed: Aug 27
Last Checked: Sep 12 at 6:28AM
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 Century 21 J.W. Morton Real Estate, Inc.
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes a 3-bedroom, 2-bath residence connected to commercial space, with separate men's and women's commercial restrooms. The building is covered by a durable metal roof and is currently tenant-occupied.
The property is positioned directly across from Walmart on W. Cardinal St. at the corner of W. Cardinal St. and S. Lewingar Dr., with access to US-19 and the Suncoast Parkway approximately 3.4 miles away within an Interchange Management Area.
The site includes more than 20 parking spaces and sits on over an acre of land, with a total building size of 4,636 square feet.
The property is positioned directly across from Walmart on W. Cardinal St. at the corner of W. Cardinal St. and S. Lewingar Dr., with access to US-19 and the Suncoast Parkway approximately 3.4 miles away within an Interchange Management Area.
The site includes more than 20 parking spaces and sits on over an acre of land, with a total building size of 4,636 square feet.
Key Highlights
- 4,636 sq. ft. multi‑use commercial building with a connected 3‑bedroom, 2‑bath residence
- Commercial space has separate men's and women's restrooms
- Over 1 acre lot with more than 20 parking spaces
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
$48,817
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
5.01%
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%
$976,340
$976.3K
Cap Rate 7%
$697,386
$697.4K
Cap Rate 9%
$542,411
$542.4K
Market Conditions
NOI Build-Up for 4,636 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
$83.4K $18.00/SF
− Vacancy
−$18.4K −$3.96/SF
EGI
$65.1K $14.04/SF
− OpEx
−$16.3K −$3.51/SF
NOI
$48.8K $10.53/SF
Area
Citrus County, FL
Vacancy
22.00%
Lease Rate
$18.00 /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%
$976,340
Cap Rate 7%
$697,386
Cap Rate 9%
$542,411
Alternative Uses
Best Use
Office B
$697.4K
$610.2K – $813.6K
NOI $48,817 @ 7.0% cap · market cap 5.01%
Second Best
Mixed Use
$620.3K
$542.7K – $723.7K
NOI $43,419 @ 7.0% cap · market cap 4.45%
Theoretical Best
Specialty Retail
$1.04M
$911.5K – $1.22M
NOI $72,919 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
28,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 34446, FL
18,431
Population
9,588
Households
1.9
Avg Household Size
62
Median Age
18%
College-Educated
89%
High-School Grad
29.8 sq mi
ZIP Area
618
Density / Sq Mi
$60,625
Median Household Income
$41,423
Median Earnings
$938
Median Rent
$231,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Versatile building with connected residence and commercial space plus separate restrooms and parking for more than 20 vehicles.
Where is this live-work space located?
The property is located at 6991 W Cardinal St Homosassa, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 4,636 sq. ft. multi‑use commercial building with a connected 3‑bedroom, 2‑bath residence; Commercial space has separate men's and women's restrooms; Over 1 acre lot with more than 20 parking spaces
