Office Building with
For Sale
$670,000
2303 Highway 44 W, Inverness, FL 34453
CommercialSale, Inverness, FL
Property Size1,854 SF
Lot Size2.90 Acres
Price / SF$361.38
Days on Market162
Property Features for 2303 Highway 44 W
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C,LD
Parking features
Driveway
Interior features
HandicapAccess, HighCeilings, SlidingGlassDoors
Exterior features
PavedDriveway
Accessibility
Accessible Approach with Ramp
Subdivision
Not on List
Lot features
Acreage, Flat, Wooded
Directions
From downtown Inverness- Travel West on 44/Gulf to Lake Hwy; Property on LEFT (adjacent to Outback Steakhouse)
Standard status
Active
APN
2244992
Lot size
2.90 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM AT SW COR LT 84 BLK 13 INVERNESS VLG PB 6 PG 26 TH S88 DEG 36M 5S E AL S LN OF BLK 13 138.11 FT TO POB TH N 41 DEG 54M 5S E AL E BDRY OF BLK 13 2502.92 FT TO PC OF CURVE CONC NW'LY HAVING CTRL ANG OF 8 DEG 27M 15S & RAD OF 3765.96 FT TH AL ARC OF CURVE & AL E BDRY 555.68 FT TO PT (CHORD BEARING & DIS BETW PTS BEING N 37 DEG 40M 28S E 555.17 FT) TH N 33 DEG 26M 50S E AL E BDRY 1978.61 FT TO SW'LY R/W LN OF SR 44 TH AL R/W S 54 DEG 28M 20S E 80.05 FT TH S 33 DEG 26M 50S W 1975.7 FT TO PC OF CU RVE CONC NW'LYHAVING CTRL ANG OF 8 DEG 27M 15S & RAD OF 3845.96 FT TH AL ARC 567.48 FT TO PT (CHORD BEARING & DIS BETW PTS BEINGS 37 DEG 40M 28S W 566.97 FT) TH S 41 DEG 54M 5S W 2434.59 FT TH N 88 DEG 36M 5S W 105.21 FT TO POB EXC MAIN ST &EXC PT
Tax Annual Amount
4984
Legal Description
COM AT SW COR LT 84 BLK 13 INVERNESS VLG PB 6 PG 26 TH S88 DEG 36M 5S E AL S LN OF BLK 13 138.11 FT TO POB TH N 41 DEG 54M 5S E AL E BDRY OF BLK 13 2502.92 FT TO PC OF CURVE CONC NW'LY HAVING CTRL ANG OF 8 DEG 27M 15S & RAD OF 3765.96 FT TH AL ARC OF CURVE & AL E BDRY 555.68 FT TO PT (CHORD BEARING & DIS BETW PTS BEING N 37 DEG 40M 28S E 555.17 FT) TH N 33 DEG 26M 50S E AL E BDRY 1978.61 FT TO SW'LY R/W LN OF SR 44 TH AL R/W S 54 DEG 28M 20S E 80.05 FT TH S 33 DEG 26M 50S W 1975.7 FT TO PC OF CU RVE CONC NW'LYHAVING CTRL ANG OF 8 DEG 27M 15S & RAD OF 3845.96 FT TH AL ARC 567.48 FT TO PT (CHORD BEARING & DIS BETW PTS BEINGS 37 DEG 40M 28S W 566.97 FT) TH S 41 DEG 54M 5S W 2434.59 FT TH N 88 DEG 36M 5S W 105.21 FT TO POB EXC MAIN ST &EXC PT
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Flooring type
Carpet, Tile
Building materials
Stucco
Roof type
Asphalt, Shingle
Listing Agency:
Alexander Real Estate, Inc.
(352) 795-6633
Listed By:
Joseph Alexander · License #3065029
(352) 303-7968
Added: Mar 30
Changed: Sep 4
Last Checked: Sep 7 at 9:06PM
MLS# 853551
Copyright © 2026 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property combines an existing professional building with 2.9 acres of land. Constructed in 1985 with concrete block construction, the building contains approximately 1854 sqft of heated and cooled space. The interior includes a lobby and waiting room, conference space, kitchen area, reception area, three additional office rooms, and two bathrooms, including one accessible bathroom. Tile and carpet flooring, central air, electric cooling, a heat pump, high ceilings, sliding glass doors, and ramp access are among the documented features. HVAC was updated in 2021.
The property has 80' of frontage on SR 44/Gulf to Lake Hwy within Inverness city limits. Public water is present on the commercial lot, and the paved driveway provides on-site access. Adjacent uses include a restaurant and professional office, with the property positioned east of a major retail cluster and west of historic downtown and the hospital.
The property has 80' of frontage on SR 44/Gulf to Lake Hwy within Inverness city limits. Public water is present on the commercial lot, and the paved driveway provides on-site access. Adjacent uses include a restaurant and professional office, with the property positioned east of a major retail cluster and west of historic downtown and the hospital.
Key Highlights
- 2.9 acres with frontage on SR 44/Gulf to Lake Hwy
- 80' frontage on SR 44/Gulf to Lake Hwy
- Existing office building with approximately 1854 sqft of htd/cooled space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,925
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$518,500
$518.5K
Cap Rate 7%
$370,357
$370.4K
Cap Rate 9%
$288,056
$288.1K
Market Conditions
NOI Build-Up for 1,854 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.3K $26.04/SF
− Vacancy
−$5.1K −$2.73/SF
EGI
$43.2K $23.31/SF
− OpEx
−$17.3K −$9.32/SF
NOI
$25.9K $13.98/SF
Area
Citrus County, FL
Vacancy
10.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$518,500
Cap Rate 7%
$370,357
Cap Rate 9%
$288,056
Alternative Uses
Best Use
Healthcare Medical
$370.4K
$324.1K – $432.1K
NOI $25,925 @ 7.0% cap · market cap 3.87%
Second Best
Office B
$278.9K
$244.0K – $325.4K
NOI $19,523 @ 7.0% cap · market cap 2.91%
Theoretical Best
Specialty Retail
$416.6K
$364.5K – $486.0K
NOI $29,161 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 34453, FL
10,964
Population
5,628
Households
1.9
Avg Household Size
54
Median Age
19%
College-Educated
94%
High-School Grad
27.1 sq mi
ZIP Area
405
Density / Sq Mi
$58,064
Median Household Income
$33,341
Median Earnings
$1,046
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Existing professional office improvements sit on a larger commercial-oriented parcel with direct SR 44 frontage.
Where is this office building located?
The property is located at 2303 Highway 44 W Inverness, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 2.9 acres with frontage on SR 44/Gulf to Lake Hwy; 80' frontage on SR 44/Gulf to Lake Hwy; Existing office building with approximately 1854 sqft of htd/cooled space
