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900-958 N Suncoast Blvd
Crystal River, FL 34429
South Square Plaza · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Exceptional Frontage, 401 Feet, And Visibility Off US-19 (32,000 VPD) Make South Square A Premier Retail Destination For Tenants And Consumers Alike
- Crystal River Is Undergoing Tremendous Growth With A Seven Percent Population Increase Since 2020, And A Projected 15% Population Increase
- Below Market Rents Paired With Primarily Gross Leases Offer An Opportunistic Investor A Critical Value-add Component
- Elite Parking Ratio Of 5.32 Paired With Multiple Points Of Ingress And Egress Help To Attract Top Tenants In The Market
- A Unique Blend Of Retail And Self-Storage Positions This Asset To Greatly Benefit From The Influx Of People Projected To Migrate To Crystal River
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present South Square, a versatile retail and storage center located in the heart of Crystal River, Florida—a rapidly growing Gulf Coast community experiencing significant population and economic growth. The property features 401 feet of frontage along US-19 (32,000 VPD), providing strong visibility and direct connectivity to the surrounding trade area and Florida’s Nature Coast.
Currently leased at below-market rents on primarily gross leases, South Square offers investors immediate in-place income with a clear value-add opportunity through strategic lease restructuring and rent adjustments. The property’s elite 5.32 parking ratio, multiple ingress and egress points, and positioning appeals to both tenants and consumers alike.
Crystal River is undergoing a 7% population increase since 2020 and is projected to grow another 15% over the next five years, driven by in-migration and expanding infrastructure. The asset is strategically positioned to capitalize on this growth, with a diverse tenant base, a unique retail-storage format, and limited new supply in the market. With its strong fundamentals, South Square is exceptionally well positioned to deliver both stable cash flow and long-term appreciation.
Currently leased at below-market rents on primarily gross leases, South Square offers investors immediate in-place income with a clear value-add opportunity through strategic lease restructuring and rent adjustments. The property’s elite 5.32 parking ratio, multiple ingress and egress points, and positioning appeals to both tenants and consumers alike.
Crystal River is undergoing a 7% population increase since 2020 and is projected to grow another 15% over the next five years, driven by in-migration and expanding infrastructure. The asset is strategically positioned to capitalize on this growth, with a diverse tenant base, a unique retail-storage format, and limited new supply in the market. With its strong fundamentals, South Square is exceptionally well positioned to deliver both stable cash flow and long-term appreciation.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
27,440 SF
Building Class
C
Year Built
1984
Price
$6,230,250 CAD
Price Per SF
$227.05 CAD
Cap Rate
5.61%
NOI
$349,733 CAD
Percent Leased
84%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
2.48 AC
Zoning
GNC
Parking
140 Spaces (5.1 Spaces per 1,000 SF Leased)
Frontage
PROPERTY TAXES
| Parcel Number | 17E-18S-34-0000-44110 | Improvements Assessment | $1,438,468 CAD |
| Land Assessment | $477,777 CAD | Total Assessment | $1,916,245 CAD |
PROPERTY TAXES
Parcel Number
17E-18S-34-0000-44110
Land Assessment
$477,777 CAD
Improvements Assessment
$1,438,468 CAD
Total Assessment
$1,916,245 CAD
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