Live-Work Property with Private
For Sale
$300,000
9478 W Marquette Lane, Crystal River, FL 34428
Combined residential and professional spaces provide a full kitchen, lobby, flexible room, and separate entrance.
Property Size1,661 SF
Price / SF$180.61
Days on Market157
Property Features for 9478 W Marquette Lane
General Information
Standard status
Active
Size
1,661 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$2,114
Amenities
Central Air, Heat Pump
3
Tile, Vinyl, Carpet
Asphalt, Shingle
Parking. Corner Lot.
Paved Driveway, Lot, Private.
Corner, County Road.
Building Details
Year Built
1991
Stories
1
Listing Agency:
Southern Realty Associates
(352) 613-4420
Listed By:
Christopher Smith · License #3556145
(352) 613-4420
Source:
Xome
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 2:56AM
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 Southern Realty Associates
Investment Insights
Based on property information with market context.
This 1,661-square-foot live-work property combines a one-bedroom, one-bath living area with a full kitchen and a separate entrance. The professional portion includes a welcoming lobby, two private offices, and two additional bathrooms. A flexible room can be used as a second bedroom, expanded office area, or multipurpose space.
Central air and a heat pump serve the property, which was built in 1991. Exterior features include a paved parking area, paved driveway, and disability-accessible walkways. Two 240-square-foot air-conditioned sheds provide nearly 500 square feet of additional conditioned storage. The property occupies a corner lot along a county road in Crystal River, Florida.
Central air and a heat pump serve the property, which was built in 1991. Exterior features include a paved parking area, paved driveway, and disability-accessible walkways. Two 240-square-foot air-conditioned sheds provide nearly 500 square feet of additional conditioned storage. The property occupies a corner lot along a county road in Crystal River, Florida.
Key Highlights
- 1,661‑square‑foot live‑work property with residential and professional areas
- One‑bedroom, one‑bath living space with full kitchen and separate entrance
- Two private offices, lobby, two additional bathrooms, and flexible room
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
$17,490
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
5.83%
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%
$349,800
$349.8K
Cap Rate 7%
$249,857
$249.9K
Cap Rate 9%
$194,333
$194.3K
Market Conditions
NOI Build-Up for 1,661 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
$29.9K $18.00/SF
− Vacancy
−$6.6K −$3.96/SF
EGI
$23.3K $14.04/SF
− OpEx
−$5.8K −$3.51/SF
NOI
$17.5K $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%
$349,800
Cap Rate 7%
$249,857
Cap Rate 9%
$194,333
Alternative Uses
Best Use
Office B
$249.9K
$218.6K – $291.5K
NOI $17,490 @ 7.0% cap · market cap 5.83%
Second Best
Mixed Use
$222.2K
$194.5K – $259.3K
NOI $15,556 @ 7.0% cap · market cap 5.19%
Theoretical Best
Specialty Retail
$373.2K
$326.6K – $435.4K
NOI $26,126 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 34428, FL
9,583
Population
5,058
Households
1.9
Avg Household Size
54
Median Age
20%
College-Educated
89%
High-School Grad
67.1 sq mi
ZIP Area
143
Density / Sq Mi
$48,185
Median Household Income
$29,589
Median Earnings
$890
Median Rent
$236,100
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?
Live-work space - Combined residential and professional spaces provide a full kitchen, lobby, flexible room, and separate entrance.
Where is this live-work space located?
The property is located at 9478 W Marquette Lane Crystal River, FL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,661‑square‑foot live‑work property with residential and professional areas; One‑bedroom, one‑bath living space with full kitchen and separate entrance; Two private offices, lobby, two additional bathrooms, and flexible room
