New Listing75 NW 5th St,CRYSTAL RIVER, FL 34428
CRYSTAL RIVER, FL 34428
Description
CURRENTLY ZONED HOTEL/MOTEL - CAN BE REVERTED BACK TO RESIDENTIAL! Bay views from this Incredible opportunity to own a 6-unit concrete block complex spanning three lots in one of downtown Crystal River’s most walkable and high-demand locationsjust steps from Kings Bay, Hunter Springs Park, shops and restaurants of Citrus Avenue. Currently zoned Hotel/Motel under flexible CG / UC-1 zoning, a rare combination of income potential & development flexibility. The current configuration includes 2 two-bedroom/one-bath units and 4 one-bedroom/one-bath units, plus a shared laundry area. Keep as-is and re-zone back to residential for long-term rentals, convert the layout into 12 motel-style guest rooms, or tear down and build new. Under UC-1 zoning, you can develop up to 60 rooms, with a 75-foot building height, 3.0 FAR, and up to 59,400 square feet of hotel, mixed-use residential/commercial, or retail/restaurant space. With room to add a third building of similar size, or an additional 6 rooms for a total of 18 rooms, this site is ideal for investors or developers looking to maximize density, tap into Crystal River’s booming eco-tourism, and create a one-of-a-kind downtown lodging or rental destination. FOUR PATHS TO PROFIT: (1.) Remodel the existing buildings (2 concrete block structures, professionally mitigated post-Helene) into up to 12 rooms. Tile flooring and solid roofs already in place. (2.) Residential Conversion - Alternatively, the property could be re-zoned back to residential use, allowing for a 6-unit multifamily configuration: 2 two-bedroom / one-bath units, 4 one-bedroom / one-bath units, Plus a shared laundry room, Ability to add a 3rd Building adding additional apartments (3.) Redevelop into a 44- or 60-room hotel with projected NOI between $947K-$1.17M and a valuation potential of $11M-$13.8M. (4.) 3 Residential Homes - Redevelop into 3 Residential Homes as there’s 3 Separate Lots Professionally mitigated after Hurricane Helene, the two existing concrete block buildings sit on solid concrete block foundations with durable tile flooring, solid roofs, and a gorgeous park like setting nestled under mature oak trees and views of the bay. Plus, there's room to add a third building of equal size for additional density or value-add. Whether you're an investor seeking cash flow or a developer looking to activate its current hotel/motel entitlement, this property offers unmatched zoning flexibility in a location that’s central to everything Crystal River has to offer. Enjoy downtown convenience with water access, spring-fed parks, and year-round tourism right outside your door. Citrus County is now one of Florida’s fastest-growing counties, fueled by strong demand from locals and visitors alike. The new Suncoast Parkway extension connects Crystal River directly to Tampa and St. Pete in just over an hour, opening the door for increased tourism, second-home ownership, and commercial investment. This location also sits centrally between Ocala, Gainesville, The Villages, and Orlando, making it a uniquely strategic hub with access to over 5 million people within a 90-minute drive. Whether you're looking for a boutique hospitality project, high-yield multifamily, or mixed-use development, this property offers the zoning, location, and flexibility to bring your vision to liferight in the heart of Crystal River’s growing downtown core. **All Marketing represents the property PRE-Helene.***
Details
| MLS# | A4654778 |
|---|---|
| Listing Type | For Sale |
| Style | Hospitality |
| Sub-Type | For-sale |
| Status | Active |
| Year | 1973 |
| Days On Site | 3 |
| Listing Provided By | AMY ROBINSON REAL ESTATE LLC | Amy Robinson |
Features
| SQ Feet | 4,480 |
|---|---|
| Zoning | CG / UC-1 |
| Acreage | 0.52 |
Taxes
| Property | 5268 |
|---|
Market Activity 34428
Request a showing
Request a showing
Listings courtesy of Stellar MLS as distributed by MLS GRID.Based on information submitted to the MLS GRID as of June 12, 2025 at 8:18:25 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com. “The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
Contact
Learn More About This Property
| State | FL |
|---|---|
| County | Citrus |
| City | CRYSTAL RIVER |
| Zip Code | 34428 |
| Area | 34428 Crystal River |
| Listing VS Median (in 34428) | |
Price: $873,000 low | high Med: $348,999 SqFt: 4,480 low | high Med: 2,336 $ / SqFt: $195 low | high Med: $149 On site: 3 low | high Med: 109.000000 | |
Business Hours Available: M-F 9 am-5 pm EST
Leasing Hotline: 844.298.0549
Homes For Rent Rental-Inquiry@PinkDoorManagement.com
Maintenance
844-400-8700 Maintenance@PinkDoorManagement.com
New Account Hotline: 407.496.4656
Pink Door Management is committed to ensuring that its website is accessible to people with disabilities. All the pages on our website will meet W3C WAI's Web Content Accessibility Guidelines 2.0, Level A conformance. Any issues should be reported to Info@pinkdoormanagement.com
Listings courtesy of Stellar MLS as distributed by MLS GRID.Based on information submitted to the MLS GRID as of All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com. “The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
