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

    353 2nd St Crystal River, FL 34429-4207

    • Turn key restaurants
    • 1,412 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Apr 26, 2021
    $247,000
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2652672
    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

    • Sadie's Corner Kitchen / Restaurant / Caterer

    Property Details for 353 2nd St

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.28 lot acres
    Property size
    1,412 SF
    Zone code
    CG GENERAL COMMERCIAL
    Property type
    Turn key restaurants
    APN
    17E-18S-21-0140-085.0
    APU
    17E18S2101400850

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $245,000
      ML approach
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $269,000
      Market price range: $201k - $606k

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal River
    County
    Citrus
    State
    Florida
    Longitude
    -82.5878
    Latitude
    28.8964
    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
    $4,125
    $44,500
    $159,470
    $203,970
    -
    $44,500
    $159,470
    $203,970

    Comparable in this City

    • Value Estimation
      $345,000
      4,976 SF

      200 Suncoast Blvd

      RESTAURANT • 4,976 SF
      200 Suncoast Blvd, Crystal River, FL 34429-5463
      View Details
    • Value Estimation
      $310,000
      1,500 SF

      114 5th St

      RESTAURANT • 1,500 SF
      114 5th St, Crystal River, FL 34429-4150
      View Details
    • Value Estimation
      $235,000
      2,040 SF

      1712 Us Hwy 19

      RESTAURANT • 2,040 SF
      1712 Us Hwy 19, Crystal River, FL 34429-9010
      View Details
    • Value Estimation
      $370,000
      4,854 SF

      1935 Us Hwy 19

      RESTAURANT • 4,854 SF
      1935 Us Hwy 19, Crystal River, FL 34429-9011
      View Details
    • Value Estimation
      $210,000
      1,080 SF

      116 5th St

      RESTAURANT • 1,080 SF
      116 5th St, Crystal River, FL 34429-4150
      View Details
    • Value Estimation
      $335,000
      2,860 SF

      6875 Gulf To Lk Hwy

      RESTAURANT • 2,860 SF
      6875 Gulf To Lk Hwy, Crystal River, FL 34429-7836
      View Details

    Similar Nearby for Sale

    • $1,500,000
      1.07 Acres

      Established Restaurant Opportunity, Crystal River

      Restaurant building with long-standing reputation available for purchase.
      606 NE Us Hwy 19 Blvd, Crystal River, FL 34429
      View Details
    • $250,000
      1.37 Acres

      Crystal River Land For Sale

      1.37 Acres (MOL) with Highway 19 Frontage in Crystal River.
      1975 Us Highway 19 SE, Crystal River, FL 34429
      View Details
    • New
      $285,000
      0.05 Acres

      Charming Mixed-Use Property in Crystal River

      1952 Cracker-style gem in downtown Crystal River, zoned commercial/residential.
      222 NE 1St Ave, Crystal River, FL 34429
      View Details
    • New
      $2,850,000
      8,800 SF

      Waterfront Tourist Village Portfolio

      Turn-key waterfront tourist village with restaurant, retail, and lodging potential.
      13982 W Ozello Trl, Crystal River, FL 34429
      View Details
    • $899,000
      Pending

      Turnkey Mixed-Use Investment Property

      Rare, fully leased mixed-use property in downtown Crystal River.
      155 SE Us Highway 19, Crystal River, FL 34429
      View Details
    • $747,000
      0.36 Acres

      Downtown Crystal River Value-Add Opportunity

      Free-standing building in historic downtown Crystal River with high visibility.
      669 NE Us Highway 19, Crystal River, FL 34429
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,268 SF

      Retail Space on US-19

      Retail spaces available on high-traffic US-19 in Crystal River.
      298-430 N Suncoast Blvd, Crystal River, FL 34429
      View Details
    • $3,499 /Mo
      16,705 SF

      Crystal River Commercial Office & Warehouse

      Commercial office and warehouse space for lease near Hwy 44.
      1424 N Gulf Ave, Crystal River, FL 34429
      View Details
    • $1,000 /Mo
      900 SF

      Office Space on Highway 19

      Office spaces available for lease on Highway 19.
      8740 Mayo Dr, Crystal River, FL 34429
      View Details
    • $11 SF/Yr
      11,860 SF

      Crystal River Two-Story Office Space

      11,860 SF office space for lease in Crystal River, Florida.
      1624 N Meadowcrest Blvd, Crystal River, FL 34429
      View Details
    • $11 SF/Yr
      6,430 SF

      Crystal River Two-Story Office Space

      6,430 SF office space for lease in Crystal River, Florida.
      1624 N Meadowcrest Blvd, Crystal River, FL 34429
      View Details
    • $11 SF/Yr
      5,430 SF

      Crystal River Two-Story Office Space

      5,430 SF office space for lease in Crystal River, Florida.
      1624 N Meadowcrest Blvd, Crystal River, FL 34429
      View Details
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    353 2nd St
    Crystal River, FL 34429-4207
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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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