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    498 Kings Bay Dr Crystal River, FL 34429-4718
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    498 Kings Bay Dr Crystal River, FL 34429-4718

    View on Map
    • Office buildings
    • 3,458 SF
    • 1.47 lot acres
    Off-Market
    Property ID
    US18-0621049
    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.
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Homosassa River Airboat Tours Manatee Tours Homosassa Florida Boat Rentals. / Travel Agency
    • Manatee Fun: Swim with Manatee Tour in Crystal River & Homosassa / (Bike/Boat/Book/etc) Store
    • River Ventures / Travel Agency / Tour Operator

    Property Details for 498 Kings Bay Dr

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.47 lot acres
    Property size
    3,458 SF
    Zone code
    CH HIGH INTENSITY COMMERC
    Property type
    Office buildings
    APN
    17E-18S-21-22230
    APU
    17E18S2122230

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $645,000
      6.5%
      $600,000
      7%
      $555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $586,000
      Market price range: $228k - $712k
      AI Estimate
      $637,000
      Market price range: $276k - $705k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $460,000
      Current use
      MEDICAL BUILDING
      $730,000
      Change: +59% Conversion: Easy
      RETAIL STORES
      $590,000
      Change: +28% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $580,000
      Change: +26% Conversion: Easy
      AUTO REPAIR, GARAGE
      $430,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal River
    County
    Citrus
    State
    Florida
    Longitude
    -82.5864
    Latitude
    28.8916
    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
    $8,800
    $139,290
    $280,020
    $419,310
    -
    $139,290
    $280,020
    $419,310

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      107 4th St

      OFFICE BUILDING • 2,400 SF
      107 4th St, Crystal River, FL 34429-4145
      View Details
    • Value Estimation
      $1,335,000
      9,400 SF

      1205 5th St

      OFFICE BUILDING (MULTI-STORY) • 9,400 SF
      1205 5th St, Crystal River, FL 34429-4523
      View Details
    • Value Estimation by Request
      1,079 SF

      6200 Corporate Oaks Dr

      PROFESSIONAL BUILDING • 1,079 SF
      6200 Corporate Oaks Dr, Crystal River, FL 34429-2705
      View Details
    • Value Estimation by Request
      2,194 SF

      5845 Gulf To Lk Hwy

      OFFICE BUILDING • 2,194 SF
      5845 Gulf To Lk Hwy, Crystal River, FL 34429-7564
      View Details
    • Value Estimation by Request
      1,864 SF

      6216 Gulf To Lk Hwy

      OFFICE BUILDING • 1,864 SF
      6216 Gulf To Lk Hwy, Crystal River, FL 34429-7558
      View Details
    • Value Estimation
      $1,375,000
      14,080 SF

      915 Suncoast Blvd

      OFFICE BUILDING • 14,080 SF
      915 Suncoast Blvd, Crystal River, FL 34429-9012
      View Details

    Similar Nearby for Sale

    • $870,000

      Executive Office Buildings on Highway 19

      Two commercial buildings with existing leases and highway access.
      730 N Suncoast Blvd, Crystal River, FL 34429
      View Details
    • $2,499,999

      Freestanding Office Building on US 19

      7,585 sq ft office building on 2.29 acres.
      268 South Suncoast Blvd, Crystal River, FL 34429
      View Details
    • $499,900
      Pending

      High-Visibility Commercial Property in Crystal River

      Freestanding commercial property on a high-traffic highway with strong visibility.
      823 NE 5Th St, Crystal River, FL 34429
      View Details
    • $870,000
      5,450 SF

      Executive Office Buildings on Highway

      Executive office buildings in Crystal River with highway frontage.
      N Suncoast Blvd, Crystal River, FL 34429
      View Details
    • $2,499,999
      7,585 SF

      Freestanding Office Building on US 19

      Commercial building on 2.29 acres with high traffic exposure.
      268 S Suncoast Blvd, Crystal River, FL 34429
      View Details
    • $479,900
      2,165 SF

      Crystal River Office Building For Sale

      Premium office building with highway frontage and recent updates.
      823 NE 5Th St, Crystal River, FL 34429
      View Details

    Similar Nearby for Lease

    • $750 /Mo
      7,596 SF

      Professional Offices on US 19

      Prime location, professional offices available for lease on US 19.
      268 S Suncoast Blvd, Crystal River, FL 34429
      View Details
    • Contact for pricing

      Crystal River Commercial Office Space

      Commercial office space available for rent in Crystal River.
      268 S Suncoast 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
    • $2,267 /Mo
      1,600 SF

      Medical Office Space on US-19

      Well-positioned medical office in Crystal River with high traffic exposure.
      936 N Suncoast Blvd, 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
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    Crystal River, FL 34429-4718
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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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