3475 Suncoast BlvdHomosassa, FL 34448

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

Medical offices

Property subtype

Medical centers

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.

• 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

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

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