Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3190 Florida Ave Inverness, FL 34450

    Sponsored
    For Sale
    $830,000

    High-traffic location, turnkey automotive shop

    Property size:
    2,862 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    355
    This 2,862 sq ft retail property in Inverness, FL, sits on a 0.72-acre lot with 125 feet of highway frontage on US 41 S, a major thoroughfare boasting 17,300 daily vehicles. Its General Commercial zoning and street-to-street access provide exceptional visibility and accessibility. The property includes a fully equipped automotive repair shop, complete with lifts, air compressors, and tools, offering immediate income potential. This turnkey operation benefits from a strong existing customer base and is poised for growth due to the influx of new residents (projected 30,000 by 2030) and the development of the nearby Holder Industrial Park, which will bring 1,000 direct and up to 2,000 indirect jobs. Annual consumer spending on vehicle maintenance and repair in the area exceeds $14 million. Located within the Tampa-St. Petersburg-Clearwater MSA, the 18th largest metropolitan area in the U.S. and a currently hot real estate market, this property represents a strategic investment opportunity with significant long-term appreciation potential. Citrus County's 61,000 vacant residential parcels further solidify the area's growth trajectory. This established business, combined with the area's robust economic expansion, makes this a low-risk, high-reward investment. The property is priced at $830,000.

    Property Features for 3190 Florida Ave

    General Information

    Property type
    Retail properties
    Square Feet
    2,862 SF
    Lot Size
    31,363 SF

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Nick Vaseloff LLC

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Tony's Auto Clinic ... Auto Repair Shop

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.31549
    Latitude
    28.81578

    Nearby Similar for Sale

    • New
      $259,900
      1,452 SF

      Mediterranean Home in Downtown Inverness

      Charming 2-bedroom home near downtown Inverness with modern updates.
      503 Palma Ceia Pt, Inverness, FL 34450
      View Details
    • New
      $449,900
      1,602 SF

      Lakeside Living in Inverness

      Three-bedroom home with lake view, heated pool, and dock.
      542 San Remo Cir, Inverness, FL 34450
      View Details
    • $350,000
      0.78 Acres

      Inverness Commercial Property on SR44

      Renovated commercial property with lake access on high-traffic corridor.
      8929 E Gulf To Lake Hwy, Inverness, FL 34450
      View Details
    • $1,100,000
      0.58 Acres

      Prime Commercial Opportunity on US Hwy

      Highly visible corner lot with excellent frontage and strong exposure.
      525 S Us Highway 41, Inverness, FL 34450
      View Details
    • $3,300,000
      3.30 Acres

      Versatile Commercial Property For Sale

      3.3 acres with 11,874 sq ft building near Withlacoochee Trail.
      601 S Us Highway 41, Inverness, FL 34450
      View Details
    • $3,300,000
      11,484 SF

      Versatile Commercial Property For Sale

      3.3 acres with 11,874 sq ft building near Withlacoochee State Trail.
      601 S Us Highway 41, Inverness, FL 34450
      View Details
    • $3,300,000
      11,484 SF

      Versatile Commercial Property For Sale

      3.3 acres with 11,874 sq ft building in Inverness, FL.
      601 S Us Highway 41, Inverness, FL 34450
      View Details
    • $315,000
      0.27 Acres

      Income-Producing Commercial Asset on US-41

      Fully occupied commercial building with stable cash flow in Inverness, FL.
      3287 S Florida Ave, Inverness, FL 34450
      View Details
    • $675,000
      0.71 Acres

      Renovated Office Building on State Road

      Fully renovated office building in Citrus County with strong income.
      2519 Highway 44 W, Inverness, FL 34453
      View Details
    • $315,000
      0.34 Acres

      Income-Producing Commercial Asset For Sale

      Fully occupied commercial building on 0.34 acres with highway frontage.
      3275 S Florida Ave, Inverness, FL 34450
      View Details
    • $1,200,000
      3,266 SF

      Thriving Restaurant in Inverness, FL

      Established restaurant for sale in historic Inverness, Florida.
      104 Us Highway 41 S, Inverness, FL 34450
      View Details
    • $1,200,000
      0.26 Acres

      Thriving Restaurant in Historic Inverness

      Well-established restaurant for sale in the heart of Inverness, FL.
      104 Us Highway 41 S, Inverness, FL 34450
      View Details

    FAQs

    What type of property is this?
    Retail property - High-traffic location, turnkey automotive shop
    Where is this retail property located?
    The property is located at 3190 Florida Ave Inverness, FL.
    What is the asking price?
    The asking price for this property is $830,000.
    (855) 450-0442
    Request Owner's contact information
    3190 Florida Ave Inverness, FL 34450
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3190 Florida Ave
    Inverness, FL 34450
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    3190 Florida Ave Inverness, FL 34450
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nick Vaseloff LLC
    (855) 450-0442
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.