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

    7231 Grover Cleveland Blvd Homosassa, FL 34446-1310

    • Retail space
    • 5,000 SF
    • 0.91 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2020
    $703,000
    Value Estimations
    $670,000
    Show details
    Cap Rate Potential
    7.4%
    Retail space
    Location Intelligence
    Property ID
    US19-0597125
    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

    • Citrus Pawville - Pet Boarding, Grooming, Daycare / Kennel & Boarding Facility

    Property Details for 7231 Grover Cleveland Blvd

    Year built
    1979
    Construction
    STEEL FRAME
    Lot size
    0.91 lot acres
    Property size
    5,000 SF
    Zone code
    GNC GEN COMMERCIAL
    Property type
    Retail space
    APN
    17E-19S-23-0040-043.0
    APU
    17E19S2300400430

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $545,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $800,000
      6.5%
      $740,000
      7%
      $685,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $401,000
      Market price range: $402k - $1.17M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $695,000
      Current use
      MEDICAL BUILDING
      $1,055,000
      Change: +52% Conversion: Difficult
      OFFICE BUILDING
      $1,030,000
      Change: +48% Conversion: Easy
      COMMERCIAL (GENERAL)
      $835,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $625,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Homosassa
    County
    Citrus
    State
    Florida
    Longitude
    -82.5542
    Latitude
    28.8044
    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
    $4,548
    $57,630
    $211,850
    $269,480
    -
    $57,630
    $211,850
    $269,480

    Comparable in this City

    • Value Estimation
      $1,015,000
      7,068 SF

      4135 Suncoast Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,068 SF
      4135 Suncoast Blvd, Homosassa, FL 34446-1104
      View Details
    • Value Estimation by Request
      1,680 SF

      6420 Suncoast Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,680 SF
      6420 Suncoast Blvd, Homosassa, FL 34446-3002
      View Details
    • Value Estimation by Request
      816 SF

      8015 Grover Cleveland Blvd

      RETAIL STORES (PERSONAL SERVICES) • 816 SF
      8015 Grover Cleveland Blvd, Homosassa, FL 34446-1114
      View Details
    • Value Estimation by Request
      4,750 SF

      6938 Grover Cleveland Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,750 SF
      6938 Grover Cleveland Blvd, Homosassa, FL 34446-1302
      View Details
    • Value Estimation by Request
      5,000 SF

      7120 Grover Cleveland Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      7120 Grover Cleveland Blvd, Homosassa, FL 34446-1303
      View Details
    • Value Estimation
      $800,000
      6,600 SF

      5175 Suncoast Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,600 SF
      5175 Suncoast Blvd, Homosassa, FL 34446-2003
      View Details

    Similar Nearby for Sale

    • $750,000
      0.29 Acres

      Income-Producing Retail Center For Sale

      Three-unit retail center on US Highway 19 in Homosassa, FL.
      4065 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • $999,950
      4,639 SF

      Prime Corner Commercial in Homosassa

      High-traffic retail space, owner/user opportunity.
      6991 Cardinal St, Homosassa, FL 34446
      View Details
    • $975,000
      4,636 SF

      Versatile Commercial Property Near Walmart

      Multi-use property with high visibility and traffic count.
      6991 W Cardinal St, Homosassa, FL 34446
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    • $699,000
      0.92 Acres

      Homosassa Commercial Buildings with Highway Frontage

      Two buildings on 0.92 acres with excellent highway frontage.
      4828-4824 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • Contact for pricing

      Retail Space in Homosassa, FL

      Retail space available in Homosassa, Florida with excellent visibility.
      9525 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • Contact for pricing

      US-19 Homosassa Retail Outparcel

      High-visibility retail land, ideal for QSR.
      0 Us-19, Homosassa, FL 34446
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,384 SF

      Retail Space in Homosassa, FL

      Retail space with high traffic counts and easy highway access.
      9429-9481 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • $23,940

      GNC Commercial Property with Office

      Commercial property with remodeled mobile home office and fenced yard.
      7127 W Grover Cleveland Blvd, Homosassa, FL 34446
      View Details
    • $3,200 /Mo
      12,632 SF

      Retail Space on US HWY 19

      2,400 SF retail space available for lease on US HWY 19.
      4065 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • $228 SF/Yr
      17,920 SF

      Servos Square Retail Spaces

      Prime retail spaces, high traffic area.
      5400 Suncoast Blvd, Homosassa, FL 34446
      View Details
    • Contact for pricing
      99,752 SF

      US Hwy 19 Commercial Outparcels

      Prime Retail & Medical Space Available
      0 Us-19, Homosassa, FL 34446
      View Details
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    Homosassa, FL 34446-1310
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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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