Corner Live-Work Commercial
For Sale
Contact for pricing
6991 W Cardinal Street, Homosassa, FL 34446
Connected commercial space and a 3-bedroom residence with separate restrooms, on a corner lot across from Walmart.
Property Size4,639 SF
Price / SF$210.17
Days on Market10
Property Features for 6991 W Cardinal Street
General Information
Standard status
Active
Size
4,639 SF
Property subtype
Special Purpose
Site & Location
Traffic Count
28,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1971
Listing Agency:
CENTURY 21 J W Morton Real Estate, Inc.
Listed By:
Thao Le, CCIM & CBI · License #FL
Source:
Crexi
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 31 at 5:34AM
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 corner live-work commercial building includes a 3-bedroom, 2-bath residence connected to commercial space. The commercial area is set up with separate men’s and women’s restrooms, and the property has a durable metal roof. The building is currently tenant-occupied and sits on over an acre of land with more than 20 parking spaces.
Positioned on W. Cardinal Street across from Walmart, the site offers strong visibility. The property description notes an average daily traffic count of 28,000 vehicles on W. Cardinal St. It also provides easy access to US-19 and the Suncoast Parkway, which are described as about 3.4 miles away within an IMA (Interchange Management Area).
Positioned on W. Cardinal Street across from Walmart, the site offers strong visibility. The property description notes an average daily traffic count of 28,000 vehicles on W. Cardinal St. It also provides easy access to US-19 and the Suncoast Parkway, which are described as about 3.4 miles away within an IMA (Interchange Management Area).
Key Highlights
- 4,636 SF commercial building on over 1 acre on a corner lot at W. Cardinal St. and S. Lewingar Dr.
- Connected 3‑bedroom, 2‑bath residence attached to the commercial space.
- Separate men’s and women’s commercial restrooms for the commercial portion.
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 | $83.5k | $18.00 |
| − Vacancy | −$18.4k | −$3.96 |
| EGI | $65.1k | $14.04 |
| − OpEx | −$16.3k | −$3.51 |
| NOI | $48.8k | $10.53 |
4,639 SF · lease $18.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$697.8K
$610.6K – $814.2K
NOI $48,849 @ 7.0% cap · market cap 5.01%
Second Best
Retail
$636.7K
$557.1K – $742.8K
NOI $44,569 @ 7.0% cap · market cap 4.57%
Theoretical Best
Specialty Retail
$1.04M
$912.1K – $1.22M
NOI $72,966 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
28,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
45
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Connected commercial space and a 3-bedroom residence with separate restrooms, on a corner lot across from Walmart.
Where is this live-work space located?
The property is located at 6991 W Cardinal Street 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 SF commercial building on over 1 acre on a corner lot at W. Cardinal St. and S. Lewingar Dr.; Connected 3‑bedroom, 2‑bath residence attached to the commercial space.; Separate men’s and women’s commercial restrooms for the commercial portion.
