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    116 Dr Martin Luther King Jr Ave Inverness, FL 34450

    For Sale
    $289,900

    land - INVERNESS, FL

    Lot size:
    0.37 Acres
    Days on Market:
    83
    Last Refresh:
    Dec 14 at 3:06 pm

    Property Features for 116 Dr Martin Luther King Jr Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.37 Acres

    Building Details

    Architectural style
    Other

    Coldwell Banker Schmidt Family Of Companies [email protected]

    Listing agent Rich O'Brien (904) 827-1717

    Listing date Sep 23, 2025

    MLS# 255402 Listing URL

    Copyright © 2025 Coldwell Banker Schmidt REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Inverness Commercial Land Parcel

    This vacant commercial parcel is positioned in the heart of Downtown Inverness, offering visibility directly adjacent to the Citrus County Sheriffs Office and across from the Citrus County Courthouse. Zoned Central Business District (CBD), the site supports multi-story development of up to 70 feet or six stories. The site is ideal for multi-family residential, retail, or professional office use. The land is mostly cleared and flat, with an existing curb cut. Located in a desirable X flood zone, the site has an 80% impervious surface ratio allowance. The property has views overlooking Henderson Lake, Liberty Park, and the historic courthouse, making it ideal for rooftop venues or penthouse concepts. The lot size is 0.37 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.328534
    Latitude
    28.837061

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    FAQs

    What type of property is this?
    Commercial land - Vacant commercial land in Downtown Inverness with development potential.
    Where is this commercial land located?
    The property is located at 116 Dr Martin Luther King Jr Ave Inverness, FL.
    What is the asking price?
    The asking price for this property is $289,900.
    What are key features of this property?
    This property features: - Prime Downtown Inverness location directly adjacent to the Citrus County Sheriff's Office and across from the Citrus County Courthouse, offering unmatched visibility.; - Zoned Central Business District (CBD) allowing for multi-story development up to 70 feet / six stories, suitable for multi-family residential, retail, or professional office use.; - Site-ready with flat, mostly cleared land and an existing curb cut.
    (904) 827-1717
    Request Owner's contact information
    116 Dr Martin Luther King Jr Ave Inverness, FL 34450
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    Inverness, FL 34450
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    116 Dr Martin Luther King Jr Ave Inverness, FL 34450
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