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South Square is a prime neighborhood shopping center and storage facility featuring 15 retail units (17 with splitting) and 52 storage units situated on approximately 2.36 acres of prime commercial property with over 400 feet of frontage along US-19/98 (±32,000 AADT) within the Tampa-St. Petersburg MSA, the 18th largest metropolitan area in the United States. This well-maintained center offers a versatile mix of suite sizes ranging from 720 SF to 3,200 SF and is occupied by a diverse tenant base including medical and professional offices, retail businesses, beauty services, and other long-standing local tenants. The storage component includes 52 units, providing an additional and complementary income stream. With significant room for growth, investors have the opportunity to enhance revenue by aligning below-market rental rates and implementing standard NNN expense recoveries for CAM, insurance, and real estate taxes, which are currently limited. Combined with modest rent adjustments and the leasing of two vacant retail units, a new owner has the potential to increase net operating income by more than 23%, achieving an estimated 6.79% stabilized cap rate, while maintaining minimal vacancy in the storage component.
| DAYS ON MARKET | 10 | LAST UPDATED | 3/22/2026 |
|---|---|---|---|
| TRACT | CRYSTAL CREST ADD UNREC | YEAR BUILT | 1984 |
| COMMUNITY | 34429 - Crystal River | COUNTY | Citrus |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Mar 22, '26 | $2,400,000 |
|---|---|
| Mar 22, '26 - Today | $4,200,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 34429 - Crystal River |
| CONSTRUCTION | Block |
| LOT | 2.36 acre(s) |
| LOT DESCRIPTION | Wooded |
| LOT DIMENSIONS | 400x300 |
| SEWER | Public Sewer, Septic Tank |
| STORIES | 1 |
| SUBDIVISION | CRYSTAL CREST ADD UNREC |
| TAXES | 24200.9 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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*Estimate only
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Listing provided by Elias Kirallah, CENTURY 21 J.W.MORTON R.E., 352-726-6668
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 3/25/26 2:47 PM PDT.
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