Crystal River Warehouse For
For Sale
$3,999,000
940 N SUNCOAST BOULEVARD, Crystal River, FL 34429
27,600 sq ft warehouse in Crystal River, Florida.
Property Size27,600 SF
Price / SF$144.89
Days on Market151
Property Features for 940 N SUNCOAST BOULEVARD
General Information
Standard status
Active
Size
27,600 SF
Total Parking Spaces
100
Zoning
CH
Net Operating Income
$218,582
Taxes and HOA fees
Annual Taxes
$24,200
Amenities
Central Air
Building Details
Building Size
27,600 SF
Year Built
1984
Stories
1
Listing Agency:
CENTURY 21 J.W.MORTON R.E.
(352) 400-2635
Listed By:
Elias Kirallah · License #3123414
(352) 400-2635
Source:
Evrealestate
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 8 at 6:26AM
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 CENTURY 21 J.W.MORTON R.E.
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 27,600 square foot warehouse property located in Crystal River, Florida. The property is suitable for warehouse and industrial purposes.
Key Highlights
- 27,600 sq ft warehouse
- Located in Crystal River, Florida
- Central Air Cooling
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
$200,583
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
5.02%
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%
$4,011,660
$4.0M
Cap Rate 7%
$2,865,471
$2.9M
Cap Rate 9%
$2,228,700
$2.2M
Market Conditions
NOI Build-Up for 27,600 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
$248.4K $9.00/SF
− Vacancy
−$12.4K −$0.45/SF
EGI
$236.0K $8.55/SF
− OpEx
−$35.4K −$1.28/SF
NOI
$200.6K $7.27/SF
Area
Citrus County, FL
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$4,011,660
Cap Rate 7%
$2,865,471
Cap Rate 9%
$2,228,700
Alternative Uses
Best Use
Warehouse
$2.87M
$2.51M – $3.34M
NOI $200,583 @ 7.0% cap · market cap 5.02%
Second Best
Industrial
$2.60M
$2.27M – $3.03M
NOI $181,844 @ 7.0% cap · market cap 4.55%
Theoretical Best
Specialty Retail
$6.20M
$5.43M – $7.24M
NOI $434,116 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Crystal River Marine Inc — 990 N Suncoast Blvd, Crystal River, FL 34429
- A-AAA Self Storage — 940 N Suncoast Blvd, Crystal River, FL 34429
- Airport Plz U-Lock-It Storage — 989 N Suncoast Blvd, Crystal River, FL 34429
Frequently Asked Questions
What type of property is this?
Warehouse - 27,600 sq ft warehouse in Crystal River, Florida.
Where is this warehouse located?
The property is located at 940 N SUNCOAST BOULEVARD Crystal River, FL.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: 27,600 sq ft warehouse; Located in Crystal River, Florida; Central Air Cooling
