Freestanding Office Building on
For Sale
Contact for pricing
268 S Suncoast Blvd, Crystal River, FL 34429
7,585 SF office building on 2.29 acres.
Property Size7,596 SF
Lot Size2.29 Acres
Price / SF$248.82
Days on Market1151
Property Features for 268 S Suncoast Blvd
General Information
Standard status
Active
Size
7,596 SF
Class
A
Lot size
2.29 Acres
Property subtype
Office
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty Elite Partners II
(352) 228-7744
Listed By:
Bruce Brunk · License #SL318787
Source:
Crexi
Added: Jun 30, 2023
Changed: Aug 8
Last Checked: Aug 8 at 4:05AM
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 Keller Williams Realty Elite Partners II
Investment Insights
Based on property information with market context.
This 7,585 square foot freestanding office building is situated on 2.29 acres. The property is zoned Commercial GNC, offering a range of possibilities. The first floor is fully rented. The building features approximately 19 rooms, including private offices large enough to serve as conference rooms, two lobbies, and storage rooms. There are five restrooms. The property has over 25 private parking spaces. The building has approximately 200 feet of road frontage on US Highway 19/Suncoast Blvd. Upgraded flooring, custom wood cabinetry, built-ins, and molding are present throughout the building. It is located on Florida's largest west coast highway with easy access to the newly opened 589 Toll Road/Suncoast Parkway, which is 6 miles away, providing an easy commute to Tampa International Airport. It is also located 2 minutes from the Crystal River Regional Airport. With Citrus County approval, the property is ideal for corporate offices, a luxury car sales showroom, a high-end real estate brokerage, a bank, or a luxury boat dealership.
Key Highlights
- Prime commercial location on US Highway 19 with high traffic volume and 200 ft of road frontage.
- Large, freestanding 7,585 sq ft office building with approx. 19 rooms, 2 lobbies, storage, and 5 restrooms.
- Zoned Commercial GNC suitable for various businesses.
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
$79,986
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
4.23%
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%
$1,599,720
$1.6M
Cap Rate 7%
$1,142,657
$1.1M
Cap Rate 9%
$888,733
$888.7K
Market Conditions
NOI Build-Up for 7,596 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
$136.7K $18.00/SF
− Vacancy
−$30.1K −$3.96/SF
EGI
$106.6K $14.04/SF
− OpEx
−$26.7K −$3.51/SF
NOI
$80.0K $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%
$1,599,720
Cap Rate 7%
$1,142,657
Cap Rate 9%
$888,733
Alternative Uses
Best Use
Office B
$1.14M
$999.8K – $1.33M
NOI $79,986 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.71M
$1.49M – $1.99M
NOI $119,476 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 7,585 SF office building on 2.29 acres.
Where is this office building located?
The property is located at 268 S Suncoast Blvd Crystal River, FL.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Prime commercial location on US Highway 19 with high traffic volume and 200 ft of road frontage.; Large, freestanding **7,585 sq ft office building** with approx. 19 rooms, 2 lobbies, storage, and 5 restrooms.; Zoned Commercial GNC suitable for various businesses.
