3475 Suncoast BlvdHomosassa, FL 34448

  • Healthcare properties
  • 6,230 SF
For Sale
$1,700,000 View listing

Property Details for 3475 Suncoast Blvd

Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
1.04 AC
Property size (Sq ft)
6,230 SF
Zone code
GNC GEN COMMERCIAL
Property type
Healthcare properties
Property subtype
Medical offices
APN
17E-19S-22-0050-02300-003.0
APU
17E19S220050023000030

Description

This 6,230 sq ft medical office building in Homosassa, FL, is situated on a 1.04-acre lot with 165 feet of frontage on US 19, boasting a daily traffic count of 28,000 (AADT). The property features 25 dedicated parking spaces plus 16 overflow spaces. Built of concrete block with stucco exterior, this freestanding facility has undergone significant improvements in the last decade. The interior comprises a waiting area, reception area, four restrooms, seven exam rooms with sinks, five private offices, a storage/file room, a lab room, a surgery room, and nurse stations. Currently occupied by Tampa General Hospital under an NNN lease securing income through 2028 with renewal potential, this presents a strong investment opportunity. The location benefits from proximity to major retailers like Publix and Winn-Dixie, and serves a patient population of approximately 31,734 within a 5-mile radius, with annual healthcare expenditures exceeding $75 million. The average age of this population is 55.6. Conveniently located near Floral City, Hernando, Beverly Hills, Lecanto, and Crystal River (15-25 minute drives), the property enjoys excellent access to Tampa International Airport (74.7 miles, approximately 1 hour 6 minutes) via the recently expanded US 19 and the Suncoast Parkway (SR 589) extension. This property is located in Citrus County, part of the Tampa-St. Petersburg MSA, the 18th largest in the U.S., experiencing significant growth (1.29% annually) with over 60,000 vacant parcels available for development and ongoing infrastructure improvements. The recent six-lane expansion of US 19 and the extension of the Suncoast Parkway further enhance accessibility and future growth potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,170,512
    6.5%
    $1,080,473
    7%
    $1,003,296
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,137,785
    Geo Method
    $1,137,785
  • Alternative Use

    Use
    Valuation
    Residential
    $1,339,786
    Hospitality
    $1,227,237
    Educational
    $1,021,047
    Medical
    $1,056,162
    Retail
    $1,588,295
3475 Suncoast Blvd, Homosassa, Florida

Location Insight

City
Homosassa
County
Citrus
State
Florida
Latitude
28.8114
Longitude
-82.5758
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
$11,467
$160,530
$501,300
$661,830
-
$160,530
$501,300
$661,830

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