Unfinished Concrete Block
For Sale
$239,000
7050 C Street, Cedar Key, FL 32625
Commercial Sale, Cedar Key, FL
Property Size600 SF
Lot Size0.01 Acres
Price / SF$398.33
Days on Market432
Property Features for 7050 C Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Cedar Key
Lot features
Central Electric
Directions
State Road 24 to stop sign. Left on 2nd St. Go one block and turn Left on C Street. Building is second on the Left. See PELICAN REALTY sign on building.
Standard status
Active
APN
0856200000
Size
600 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
32-15-13 CEDAR KEY BLK 11 N 24 FT 3 INCHES OF LOT 1 OR BOOK 458 PAGE 135
Tax Annual Amount
1054
Legal Description
32-15-13 CEDAR KEY BLK 11 N 24 FT 3 INCHES OF LOT 1 OR BOOK 458 PAGE 135
Building Details
Year built
1950
Listing Agency:
Pelican Realty
(352) 543-5581
Listed By:
Caryn Stephenson · License #BK3232198
(352) 228-0420
Added: Jun 24, 2025
Changed: Aug 19
Last Checked: Aug 29 at 7:06PM
MLS# 795176
Copyright © 2026 Dixie-Gilchrist-Levy Multiple Listing Service. 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 600-square-foot commercial storefront sits on a 0.013-acre parcel at 7050 C Street in Cedar Key. Constructed in 1950 with concrete block construction, the building has an unfinished interior that allows the next owner to establish a tailored commercial layout. The source information identifies potential configurations including office, salon, and retail space.
The property is located in downtown Cedar Key, among boutiques and eateries. Its compact footprint and unfinished condition provide a straightforward starting point for a buyer seeking a small commercial space that can be adapted to a specific business concept. The property is within ZIP code 32625 and is part of the Cedar Key, Florida market.
The property is located in downtown Cedar Key, among boutiques and eateries. Its compact footprint and unfinished condition provide a straightforward starting point for a buyer seeking a small commercial space that can be adapted to a specific business concept. The property is within ZIP code 32625 and is part of the Cedar Key, Florida market.
Key Highlights
- 600 SF commercial storefront
- 0.013‑acre parcel at 7050 C Street
- Concrete block construction
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
$7,484
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
3.13%
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%
$149,680
$149.7K
Cap Rate 7%
$106,914
$106.9K
Cap Rate 9%
$83,156
$83.2K
Market Conditions
NOI Build-Up for 600 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
$11.9K $19.80/SF
− Vacancy
−$1.9K −$3.17/SF
EGI
$10.0K $16.63/SF
− OpEx
−$2.5K −$4.16/SF
NOI
$7.5K $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%
$149,680
Cap Rate 7%
$106,914
Cap Rate 9%
$83,156
Alternative Uses
Best Use
Office B
$106.9K
$93.6K – $124.7K
NOI $7,484 @ 7.0% cap · market cap 3.13%
Second Best
Retail
$90.9K
$79.5K – $106.0K
NOI $6,362 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$148.6K
$130.0K – $173.4K
NOI $10,403 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Well-served
Demand for This Use
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?
Storefront property - Unfinished interior supports a custom office, salon, or retail layout in downtown Cedar Key.
Where is this storefront property located?
The property is located at 7050 C Street Cedar Key, FL.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 600 SF commercial storefront; 0.013‑acre parcel at 7050 C Street; Concrete block construction
