Office Building with Mezzanine
For Sale
$699,000
8621 SW 200th Circle, Dunnellon, FL 34431
COMMERCIAL - Dunnellon, FL
Property Size2,704 SF
Lot Size3.68 Acres
Price / SF$258.51
Days on Market47
Property Features for 8621 SW 200th Circle
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
A1
Parking features
Driveway
Patio and Porch features
Deck
Exterior features
Deck, Landscaping, BlacktopDriveway, PavedDriveway
Subdivision
Rainbow Springs
Lot features
Acreage, Cleared, Multiple Lots, Rolling Slope, Trees
Directions
From Dunnellon: US Highway 41 North to West on SW 88th Place Road to property on right. (Corner of US 41 and SW 88th Place Rd)
Standard status
Active
APN
1831351000
Lot size
3.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEC 14 TWP 16 RGE 18 PLAT BOOK R PAGE 041 RAINBOW SPRINGS 1ST REPLAT BLK 99 LOTS 30.31.32
Tax Annual Amount
4337
Legal Description
SEC 14 TWP 16 RGE 18 PLAT BOOK R PAGE 041 RAINBOW SPRINGS 1ST REPLAT BLK 99 LOTS 30.31.32
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Well
Building Details
Year built
1995
Floors in Building
1
Flooring type
Wood
Building materials
Frame, HardiplankType
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Dunnellon Real Estate LLC
(352) 875-7787
Listed By:
Christopher Hodges · License #3260213
(352) 875-7787
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 22 at 5:06AM
MLS# 856172
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 office building offers 2,704 square feet of usable space on a 3.68-acre lot. The interior layout includes seven individual offices, a conference room, a waiting area, and a reception space, plus an office equipment and supply section. A mezzanine level is included and designed to fit two additional desks.
The property is positioned centrally within the Rainbow Springs community, providing excellent visibility from US Highway 41 just north of Dunnellon’s city limits. Exterior features include a deck, landscaping, and blacktop/paved driveway surfaces.
The building was constructed in 1995 and features frame construction with Hardiplank-type materials. Amenities include wood flooring, central electric heating, central air conditioning, a metal roof, and driveway parking. Water is provided by a well, and wastewater is served by a septic tank. Zoning is A1.
The property is positioned centrally within the Rainbow Springs community, providing excellent visibility from US Highway 41 just north of Dunnellon’s city limits. Exterior features include a deck, landscaping, and blacktop/paved driveway surfaces.
The building was constructed in 1995 and features frame construction with Hardiplank-type materials. Amenities include wood flooring, central electric heating, central air conditioning, a metal roof, and driveway parking. Water is provided by a well, and wastewater is served by a septic tank. Zoning is A1.
Key Highlights
- 2,704 square feet of usable office space on 3.68 acres
- Seven individual offices plus conference room, waiting area, and reception
- Mezzanine level designed for two additional desks
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
$28,473
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
4.07%
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%
$569,460
$569.5K
Cap Rate 7%
$406,757
$406.8K
Cap Rate 9%
$316,367
$316.4K
Market Conditions
NOI Build-Up for 2,704 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
$48.7K $18.00/SF
− Vacancy
−$10.7K −$3.96/SF
EGI
$38.0K $14.04/SF
− OpEx
−$9.5K −$3.51/SF
NOI
$28.5K $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%
$569,460
Cap Rate 7%
$406,757
Cap Rate 9%
$316,367
Alternative Uses
Best Use
Office B
$406.8K
$355.9K – $474.6K
NOI $28,473 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$607.6K
$531.6K – $708.9K
NOI $42,531 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 34431, FL
8,589
Population
4,744
Households
1.8
Avg Household Size
56
Median Age
14%
College-Educated
85%
High-School Grad
104.2 sq mi
ZIP Area
82
Density / Sq Mi
$51,542
Median Household Income
$38,477
Median Earnings
$858
Median Rent
$185,200
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?
Office building - Centrally located office building with a mezzanine level, seven private offices, conference room, and reception area on US Highway 41.
Where is this office building located?
The property is located at 8621 SW 200th Circle Dunnellon, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,704 square feet of usable office space on 3.68 acres; Seven individual offices plus conference room, waiting area, and reception; Mezzanine level designed for two additional desks
