Seven-Tenant Strip
For Sale
$2,500,000
787 Ne 5th Street, Crystal River, FL 34429
Located in Crystal River’s historic district, the retail property sits near the Highway 19 and Highway 44 intersection.
Property Size9,376 SF
Price / SF$266.64
Days on Market14
Property Features for 787 Ne 5th Street
General Information
Standard status
Active
Size
9,376 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Building Details
Year Built
1976
Tenancy
Multi
Listing Agency:
(352) 604-3245
Listed By:
Vy Nguyen
Source:
Floridasateamrealty
Added: Oct 16
Changed: Oct 28
Last Checked: Oct 28 at 4:36PM
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 Vy Nguyen
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 9,376-square-foot strip center at 787 NE 5th Street contains seven established tenant businesses. Built in 1976, the property is in Crystal River’s historic district in Florida.
The center is a short distance from the junction of Highway 19 and Highway 44. Its multi-tenant retail configuration brings seven businesses together at one property.
The center is a short distance from the junction of Highway 19 and Highway 44. Its multi-tenant retail configuration brings seven businesses together at one property.
Key Highlights
- Seven tenant businesses occupy the strip center
- 9,376 square feet of retail space
- Built in 1976
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,080
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,801,600
$1.8M
Cap Rate 7%
$1,286,857
$1.3M
Cap Rate 9%
$1,000,889
$1.0M
Market Conditions
NOI Build-Up for 9,376 SF
Gross rent
$140.6K $15.00/SF
− Vacancy
−$12.0K −$1.28/SF
EGI
$128.7K $13.73/SF
− OpEx
−$38.6K −$4.12/SF
NOI
$90.1K $9.61/SF
Area
Citrus County, FL
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,801,600
Cap Rate 7%
$1,286,857
Cap Rate 9%
$1,000,889
Alternative Uses
Best Use
Retail
$1.29M
$1.13M – $1.50M
NOI $90,080 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.11M
$1.84M – $2.46M
NOI $147,474 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
163k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 26%
Home Improvements & Furnishings 4%
Hotels & Casinos 1%
Wawa
Shops & Services
51,855 visits/mo
0.4 miles
RaceTrac
Shops & Services
31,031 visits/mo
0.2 miles
Wendy's
Dining
17,473 visits/mo
0.5 miles
Taco Bell
Dining
15,079 visits/mo
0.5 miles
Suncoast Credit Union
Shops & Services
13,047 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Located in Crystal River’s historic district, the retail property sits near the Highway 19 and Highway 44 intersection.
Where is this strip mall located?
The property is located at 787 Ne 5th Street Crystal River, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Seven tenant businesses occupy the strip center; 9,376 square feet of retail space; Built in 1976
