940 N Suncoast BLVD Crystal River, FL 34429
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Subdivision Not On List
MLS Listing ID 853211
HOA Y/N No
Year Built 1984
Annual Tax Amount $24,200
Tax Year 2025
Lot Size 2.360 Acres
Acres 2.36
Property Sub-Type Retail
Property Description
This well-maintained center offers a versatile mix of suite sizes ranging from 720 SF to 3,200 SF and is occupied by a diverse tenant base including medical and professional offices, retail businesses, beauty services, and other long-standing local tenants. The storage component includes 52 units, providing an additional and complementary income stream.
With significant room for growth, investors have the opportunity to enhance revenue by aligning below-market rental rates and implementing standard NNN expense recoveries for CAM, insurance, and real estate taxes, which are currently limited. Combined with modest rent adjustments and the leasing of two vacant retail units, a new owner has the potential to increase net operating income to a 7.34% cap rate, while maintaining minimal vacancy in the storage component.
Location
State FL
County Citrus
Area 16
Zoning CH,GNC
Interior
Cooling Central Air
Flooring Laminate, Slate
Fireplace No
Exterior
Exterior Feature Paved Driveway
Parking Features Driveway, Paved, Parking Lot, Parking Pad, Private, Parking Space(s)
Pool None
Water Access Desc Public
Roof Type Asphalt,Shingle
Present Use Retail
Total Parking Spaces 100
Building
Lot Description Acreage, Cleared, Trees
Story 1
Entry Level One
Foundation Block, Slab
Sewer Public Sewer, Septic Tank
Water Public
Level or Stories One
New Construction No
Others
Tax ID 2278862
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard, Listed As-Is
NEARBY SCHOOL & BUSINESS
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