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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1697 Suncoast Blvd Homosassa, FL 34448

    • Office buildings
    • 2,000 SF
    • 1.94 lot acres
    OFF-MARKET
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    8.4%
    Office buildings
    Location Intelligence
    Property ID
    US18-3038475
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Manatee Storage LLC / Self-Storage Facility / Storage Facility

    Property Details for 1697 Suncoast Blvd

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    1.94 lot acres
    Property size
    2,000 SF
    Zone code
    GNC GEN COMMERCIAL
    Property type
    Office buildings
    APN
    17E-19S-10-0020-000B0-016.0
    APU
    17E19S100020000B00160

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $375,000
      6.5%
      $345,000
      7%
      $320,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $395,000
      Market price range: $104k - $395k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $410,000
      Current use
      MEDICAL BUILDING
      $420,000
      Change: +2% Conversion: Easy
      COMMERCIAL (GENERAL)
      $335,000
      Change: -19% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Homosassa
    County
    Citrus
    State
    Florida
    Longitude
    -82.5782
    Latitude
    28.8374
    CBSA code
    26140
    CBSA name
    HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,749
    $168,900
    $316,900
    $485,800
    -
    $168,900
    $316,900
    $485,800

    Comparable in this City

    • Value Estimation
      $545,000
      32,990 SF

      5296 Riverview Cir

      OFFICE BUILDING • 32,990 SF
      5296 Riverview Cir, Homosassa, FL 34448-3631
      View Details
    • Value Estimation
      $235,000
      2,044 SF

      8464 Aquaduct St, Unit 1

      OFFICE BUILDING • 2,044 SF
      8464 Aquaduct St, Homosassa, FL 34448-2724
      View Details
    • Value Estimation
      $140,000
      1,500 SF

      2951 Audubon Ter, Unit 8

      OFFICE BUILDING • 1,500 SF
      2951 Audubon Ter, Homosassa, FL 34448-2017
      View Details
    • Value Estimation
      $310,000
      1,830 SF

      2540 Suncoast Blvd

      OFFICE BUILDING • 1,830 SF
      2540 Suncoast Blvd, Homosassa, FL 34448
      View Details
    • Value Estimation
      $250,000
      675 SF

      3335 Suncoast Blvd, Unit 5

      OFFICE BUILDING • 675 SF
      3335 Suncoast Blvd, Homosassa, FL 34448-2322
      View Details
    • Value Estimation
      $270,000
      5,200 SF

      9034 Veterans Dr

      OFFICE BUILDING • 5,200 SF
      9034 Veterans Dr, Homosassa, FL 34448-1488
      View Details

    Similar Nearby for Sale

    • $600,000
      1,432 SF

      Homosassa Mixed-Use Commercial Building

      Prime location, owner financing, vacant, high ROI.
      10460 New York St, Homosassa, FL 34448
      View Details
    • Contact for pricing

      Land For Sale Homosassa

      Land available for sale in Homosassa, Florida.
      7227 W Jackson Ln, Homosassa, FL 34448
      View Details
    • $35,000
      0.47 Acres

      Vacant Land in Old Homosassa

      0.47 acre lot near Homosassa River.
      11091 W Townsend Ln, Homosassa, FL 34448
      View Details
    • Contact for pricing
      0.34 Acres

      Residential Land in Homosassa, FL

      Residential land for sale, close to amenities and boat ramps.
      8178 W Windhaven Pl, Homosassa, FL 34448
      View Details
    • $548,500

      Homosassa Commercial Property For Sale

      Commercial property in Homosassa with owner financing and vacation rental.
      10460 W New York St, Homosassa, FL 34448
      View Details
    • $499,900
      0.31 Acres

      Waterfront Lot on Homosassa River

      Buildable waterfront lot in gated community with dock allowance.
      10863 W Xanadu Path, Homosassa, FL 34448
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr

      Oakridge Center

      U.S. 19 (Suncoast Blvd) Retail space w/ great access and visibility
      5447 Oakridge Dr, Homosassa, FL 34448
      View Details
    • Contact for pricing
      96,647 SF

      Springs Plaza Retail Center

      Homosassa, FL Retail Opportunity
      3902 Suncoast Blvd, Homosassa, FL 34448
      View Details
    • Contact for pricing
      15,628 SF

      Former CVS Building For Rent

      Single tenant retail building, 15,628 SF, built in 2006.
      3959 S Suncoast Blvd, Homosassa, FL 34448
      View Details
    • $1,250 /Mo
      16,560 SF

      Retail Units on Homosassa Trail

      Multiple retail units available for lease on Homosassa Trail.
      3220 S Regal Lilly Way, Homosassa, FL 34448
      View Details
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    Homosassa, FL 34448
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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