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    8144 Grover Cleveland Blvd Homosassa, FL 34446
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    Property profile & analytics

    8144 Grover Cleveland Blvd Homosassa, FL 34446

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    • Commercial real estate
    • 1,380 SF
    • 1.14 lot acres
    Off-Market
    Property ID
    US18-5736230
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • We Care Auto / Car Rental Facility

    Property Details for 8144 Grover Cleveland Blvd

    Lot size
    1.14 lot acres
    Property size
    1,380 SF
    Property type
    Commercial real estate

    Description

    This vacant 1,380-square-foot traditional office building presents a compelling investment opportunity in Homosassa, Florida. Situated on a 1.14-acre lot with 142 feet of road frontage along the highly trafficked W Grover Cleveland Blvd, this property offers significant potential. The building is a manufactured structure and sits on a lot zoned GNC (General Commercial), allowing for expansion possibilities. The property includes a partially chain-link fenced area and ample parking for approximately ten vehicles. Existing infrastructure includes public water and septic, potentially saving on future development costs. Its convenient location is less than a mile from US 19 and near the Suncoast Parkway, ensuring high visibility and accessibility. The property's existing building could be repurposed or replaced, leveraging the existing utilities and minimizing impact fees. This versatile property is ideal for a variety of commercial uses and presents a strong return on investment. The asking price is $199,900, with a price per square foot of $144.86.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Homosassa
    County
    Citrus
    State
    Florida
    Longitude
    -82.5690896
    Latitude
    28.8030919

    Comparable in this City

    • $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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    • $219,000
      0.16 Acres

      Stand Alone Business Building

      Business building on main road with newer roof and septic.
      7536 W Grover Cleveland Blvd, Homosassa, FL 34446
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    • $379,900
      1.36 Acres

      Commercial Land on U.S. Highway

      Commercial property with GNC zoning, existing utilities, and high traffic.
      6440 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • $999,950
      4,639 SF

      High-Visibility Retail Space in Homosassa

      Prime location, high traffic, 4,639 sq ft
      6991 Cardinal St, 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
    • $115,000
      0.55 Acres

      Vacant Land in Homosassa, FL

      Vacant land zoned Rural on a corner lot.
      7179 W Merrivale Ln, Homosassa, FL 34446
      View Details

    Similar Nearby for Sale

    • $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
      View Details
    • $219,000
      0.16 Acres

      Stand Alone Business Building

      Business building on main road with newer roof and septic.
      7536 W Grover Cleveland Blvd, Homosassa, FL 34446
      View Details
    • $379,900
      1.36 Acres

      Commercial Land on U.S. Highway

      Commercial property with GNC zoning, existing utilities, and high traffic.
      6440 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • $999,950
      4,639 SF

      High-Visibility Retail Space in Homosassa

      Prime location, high traffic, 4,639 sq ft
      6991 Cardinal St, 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
    • $115,000
      0.55 Acres

      Vacant Land in Homosassa, FL

      Vacant land zoned Rural on a corner lot.
      7179 W Merrivale Ln, Homosassa, FL 34446
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      99,752 SF

      US Hwy 19 Commercial Outparcels

      Prime Retail & Medical Space Available
      0 Us-19, Homosassa, FL 34446
      View Details
    • $3,000 /Mo
      12,632 SF

      Retail/Office Space on US HWY 19

      2,400 SF retail or office space for lease.
      4065 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • $36,000
      4,260 SF

      Retail Space on Suncoast Boulevard

      Retail space available for rent on Suncoast Boulevard.
      4065 S Suncoast Blvd, Homosassa, FL 34446
      View Details
    • 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
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    Homosassa, FL 34446
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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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    8144 Grover Cleveland Blvd, Homosassa, FL, 34446
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