91 Us Highway 19 Crystal River, FL 34429

Property Details for 91 Us Highway 19

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.44 lot acres

Property size

4,200 SF

Zone code

CH HIGH INTENSITY COMMERC

Property type

Warehouses

Property subtype

Self storage facilities

APN

17E-18S-22-0020-215.0

APU

17E18S2200202150

Description

This exceptional investment opportunity presents a fee-simple, single-tenant retail property located at 91 NE US Hwy 19, Crystal River, FL 34429. The 4,163 square foot building, fully renovated in 2023, sits on a 0.44-acre lot and is currently 100% occupied by Green Dragon Cannabis under a net lease. The lease, initiated July 7th, 2023, features a 10-year initial term with a favorable 3% annual rent increase, minimizing landlord responsibilities for operating and capital expenditures. The property boasts a strong 7.00% cap rate and a substantial NOI of $112,644, with an asking price of $1,609,200 ($386.55/sq ft). The strategic location at the southeast corner of Suncoast Blvd (US Hwy 19) and NE 1st Street benefits from high visibility and significant traffic, with a combined AADT of 27,500. Green Dragon Cannabis, a well-established operator with 31 Florida locations, ensures a stable and reliable income stream. This is a prime retail investment in a thriving Florida market. The property is a single-story building.

Location Insight

City

Crystal River

County

Citrus

State

Florida

Longitude

-82.5843

Latitude

28.8954

CBSA code

26140

CBSA name

HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments