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Property summary
This exceptional 2,952-square-foot restaurant property, located in Crystal River, Florida, presents a unique investment opportunity. Situated on a 0.52-acre corner lot, this vacant, single-story building boasts 27 on-site parking spaces, supplemented by ample street parking. Completely renovated in 2019, the concrete block structure offers a modern and inviting space, perfect for a variety of food and beverage concepts. The property benefits from its prime downtown location within the city's designated Downtown Wet Area, allowing for alcohol sales. Its strategic placement maximizes foot traffic, with easy access via interconnected trails and bike paths. Within a three-mile radius, the property is surrounded by national retailers, parks, and waterways leading to the Gulf of Mexico. The property is ideally positioned to benefit from the recently completed Suncoast Parkway extension and future planned expansions, positioning Citrus County for significant growth within the Tampa Metropolitan Statistical Area (MSA). A strong customer base of 46,361 residents within a 15-minute radius, with a median household income of $65,000 and an average age of 58, provides a solid foundation for a successful business. The property is part of a rapidly growing area, with Citrus County projected to reach an estimated 350,000 residents by 2030. This is a rare chance to acquire a thriving business in a vibrant downtown locale. The asking price is $1,100,000. Equipment and fixtures are sold separately. The property is zoned CG. Built in 1959.
Property profile
VerifiedCap rate & NOI
Current use
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Restaurant
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
CG GENERAL COMMERCIAL · Crystal River, FLZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CG GENERAL COMMERCIAL in Crystal River, FL.
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