508 N Citrus AVENUE, Crystal River, FL, 34428 | $1,100,000

Former restaurant opportunity located in the heart of Central Florida’s Gulf Coast, capturing the essence of casual dining at its finest. Positioned prominently on a prime downtown block in Crystal River, Florida, this 160-seat restaurant is available for the first time, nestled within the city’s designated Downtown Wet Area, which allows for alcoholic drinks throughout the district.

Situated on a generous 0. 52-acre corner lot, this property offers unparalleled convenience with 27 rare, private parking spaces onsite, supplemented by ample street parking and nearby public lots. The building, a solid 2, 952-square-foot Concrete Block structure, underwent a full renovation in 2019, presenting a modernized and inviting environment for diners. Strategically located to maximize foot traffic, the restaurant is accessible via interconnected trails and bike paths that attract both locals and tourists alike.

Within a three-mile radius, patrons are surrounded by popular national retail outlets, lush parks, and waterways leading to the Gulf of Mexico, providing an ideal setting to draw in visitors seeking both leisure and fine dining. This is a rare chance to acquire a piece of Central Florida’s culinary scene, offering an exceptional opportunity to operate a thriving business in a vibrant downtown locale. Equipment and fixtures are to be sold separately; please inquire with the listing agent for details.

Don’t miss your opportunity—schedule a private viewing today to explore the endless possibilities that await. The property is poised to benefit from the newly completed Suncoast Parkway extension, along with future planned expansions, which position Citrus County for unprecedented growth within the Tampa Metropolitan Statistical Area (MSA). Just 15 minutes from the property, an ideal customer base of 46, 361 residents awaits, with an average age of 58 and a median household income of $65, 000.

This property grants access to flourishing nearby communities including Lecanto, Beverly Hills, Inverness, and Homosassa. As part of Citrus County, currently home to 153, 600 residents, the area is projected to grow exponentially, reaching an estimated 350, 000 residents under Citrus County’s Land Development Code by 2030. Located within Tampa–St. Petersburg–Clearwater MSA—ranked as the 18th largest in the U. S. —Citrus County stands out as one of the nation’s most promising real estate markets.

Features

  • Property Type: Restaurant
  • Construction: Block
  • Utilities: Public
  • Garage: 19 to 30 Spaces
  • Levels: 1
  • Cooling: Central Air
  • Lot Size: 151 x 155
  • Year Built: 1959
  • Approx Sq. Feet: 2,952
  • Acreage: 0.52
  • Est. Taxes: $10,585
  • Lot Desc: Corner Lot
  • MLS#: OM688885
  • Days on Market: 19 days
  • Website: https://www.raveis.com
    /prop/OM688885/508ncitrusavenue_crystalriver_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (last updated 11/25/2024 11:03:12 PM)
Listing courtesy of CENTURY 21 J.W.MORTON R.E.   Phone: 352-726-6668

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NMLS Mortgage Loan Originator ID 16953

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508 N Citrus AVENUE, Crystal River, FL, 34428

$1,100,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $880,000 $880,000 $880,000
Term 360 months 360 months 180 months
Initial Interest Rate** 6.750% 6.625% 6.750%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.321% 6.750% 7.038%
Monthly Tax Payment $882 $882 $882
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $5,708 $5,635 $7,787
Total Monthly Payment $6,715 $6,642 $8,794

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.