For Sale
$1,100,000

508 Citrus AveCrystal River, FL 34428

Prime Downtown Location, 2,952 SF

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • $1,100,000 asking price for a vacant, 2,952 square foot retail property.
  • Located at 508 N Citrus Ave, Crystal River, FL 34428, on a 0.52-acre corner lot.
  • Property type is retail, subtype is bar, QSR/fast food, and restaurant; Class C building built in 1959 and renovated in 2019.
  • Features 27 on-site parking spaces and is situated in a high-traffic area with access to interconnected trails and bike paths.
  • Located near national retailers, parks, and waterways leading to the Gulf of Mexico, benefiting from the Suncoast Parkway extension and projected population growth in Citrus County.

Property Details for 508 Citrus Ave

Property type
Retail properties, Restaurants
Square Feet
2,952 SF
Class
C
Year Built/Renovated
1959/2019
Buildings
1
Stories
1
Lot Size (sq. ft)
22,651 SF
Units
1

Location Insight

City
Crystal River
County
Citrus
State
Florida
Latitude
28.8983243
Longitude
-82.5932511
508 Citrus Ave, Crystal River, Florida

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508 Citrus Ave
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