Freestanding Office
For Sale
$499,900
Pending
823 NE 5th Street, Crystal River, FL 34429
CommercialSale, Crystal River, FL
Property Size2,165 SF
Lot Size0.64 Acres
Days on Market224
Property Features for 823 NE 5th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
CH
Parking
12
Parking features
Parking Lot
Interior features
HighCeilings, FirstFloorEntry
Subdivision
Knights Addition to C/R
Lot features
Corner Lot, Rectangular
Directions
FL-44 W (Gulf to Lake Hwy), destination on the right corner (NE 8th Ave)
Standard status
Pending
APN
1080576
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KNIGHTS ADDITION TO CRYSTAL RIVER PB 1 PG 28 LOT 373 & 374. ---LESS--- PCL OF LAND IN LOT 373 KNIGHTS ADDITION TO CRYSTAL RIVER PB 1 PG 28 REC OR BK 627 PG 1689 & 1690 PARCEL NO. 107 MORE PART DESC AS FOLLOWS: COM ON W LINE SEC 22 TWN 18S RNG 17E AT POINT 2573.45 FT S 0 DEG 2M 1S E OF NW COR THEREOF; THN N 88 DEG 24M 30S E 1329.67 FT THN N 0 DEG 2M 26S E 49.56 FT TO INTERSECT E ROW LINE NE 8TH AVE & N ROW LINE STATE RD NO. 44 FOR POB; THN CONT N 0 DEG 2M 26S E ALONG SAID E ROW LINE NE 8TH AVE 5 FT THN S 45 DEG 47M 53S E 6.97 FT TO POINT ON SAID N ROW LINE STATE RD NO. 44 SAID POINT 5 FT N 88 DEG 21M 49S E OF POB THN S 88 DEG 21M 49S W ALONG SAID N ROW LINE 5 FT TO POB.
Tax Annual Amount
6832
Legal Description
KNIGHTS ADDITION TO CRYSTAL RIVER PB 1 PG 28 LOT 373 & 374. ---LESS--- PCL OF LAND IN LOT 373 KNIGHTS ADDITION TO CRYSTAL RIVER PB 1 PG 28 REC OR BK 627 PG 1689 & 1690 PARCEL NO. 107 MORE PART DESC AS FOLLOWS: COM ON W LINE SEC 22 TWN 18S RNG 17E AT POINT 2573.45 FT S 0 DEG 2M 1S E OF NW COR THEREOF; THN N 88 DEG 24M 30S E 1329.67 FT THN N 0 DEG 2M 26S E 49.56 FT TO INTERSECT E ROW LINE NE 8TH AVE & N ROW LINE STATE RD NO. 44 FOR POB; THN CONT N 0 DEG 2M 26S E ALONG SAID E ROW LINE NE 8TH AVE 5 FT THN S 45 DEG 47M 53S E 6.97 FT TO POINT ON SAID N ROW LINE STATE RD NO. 44 SAID POINT 5 FT N 88 DEG 21M 49S E OF POB THN S 88 DEG 21M 49S W ALONG SAID N ROW LINE 5 FT TO POB.
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
reception area
conference room
break room
Building Details
Year built
1930
Floors in Building
2
Flooring type
Vinyl, Carpet
Building materials
Frame, Stucco
Roof type
Shingle, Asphalt
Listing Agency:
Keller Williams Realty - Elite Partners II
(352) 637-2777
Listed By:
Bruce Brunk · License #3138787
(352) 228-7744
Added: Mar 4
Changed: Sep 19
Last Checked: Oct 14 at 7:06PM
MLS# 852439
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 freestanding office property at 823 NE 5th Street includes 2,165 square feet of workspace arranged with a reception area, five private offices, a conference room, two bathrooms, and a break room. The second floor has its own entrance, a large office, and a three-piece bathroom. A ramp provides accessible entry, while the building includes high ceilings, first-floor access, carpet and vinyl flooring, central heating, and central air conditioning. The structure was built in 1930 and has frame-and-stucco construction with an asphalt shingle roof.
The property fronts Gulf to Lake Hwy with 537 feet of road frontage and reported AADT of 32,000. It is positioned at a signalized intersection in Crystal River, with a paved parking lot, access from two streets, public water, and public sewer. CH zoning is tied to the Highway Commercial land-use category. The property is located near businesses, restaurants, retail shops, Hunter Springs, and Three Sister Springs.
The property fronts Gulf to Lake Hwy with 537 feet of road frontage and reported AADT of 32,000. It is positioned at a signalized intersection in Crystal River, with a paved parking lot, access from two streets, public water, and public sewer. CH zoning is tied to the Highway Commercial land-use category. The property is located near businesses, restaurants, retail shops, Hunter Springs, and Three Sister Springs.
Key Highlights
- 2,165‑square‑foot freestanding office property in Crystal River
- 537 feet of frontage on Gulf to Lake Hwy with reported AADT of 32,000
- Five private offices, reception area, conference room, two bathrooms, and break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,797
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,940
$455.9K
Cap Rate 7%
$325,671
$325.7K
Cap Rate 9%
$253,300
$253.3K
Market Conditions
NOI Build-Up for 2,165 SF
Gross rent
$39.0K $18.00/SF
− Vacancy
−$8.6K −$3.96/SF
EGI
$30.4K $14.04/SF
− OpEx
−$7.6K −$3.51/SF
NOI
$22.8K $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 Rate 5%
$455,940
Cap Rate 7%
$325,671
Cap Rate 9%
$253,300
Alternative Uses
Best Use
Office B
$325.7K
$285.0K – $380.0K
NOI $22,797 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$486.5K
$425.7K – $567.6K
NOI $34,053 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Five private offices, a conference room, and an upper-level executive suite support varied business operations.
Where is this office building located?
The property is located at 823 NE 5th Street Crystal River, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,165‑square‑foot freestanding office property in Crystal River; 537 feet of frontage on Gulf to Lake Hwy with reported AADT of 32,000; Five private offices, reception area, conference room, two bathrooms, and break room
