Strip Mall with Lease
For Sale
Contact for pricing
1213-1221 US-41, Inverness, FL 34450
Commercial retail center with extended leases and C Commercial zoning in Inverness.
Property Size11,360 SF
Price / SF$183.98
Days on Market147
Property Features for 1213-1221 US-41
General Information
Standard status
Active
Size
11,360 SF
Total Parking Spaces
49
Property subtype
Retail
Zoning
C Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$145,960
Additional Details
Cap Rate
6.8%
Building Details
Year Built
1972
Year Renovated
1988
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
SRS Real Estate Partners Tampa
(954) 703-3602
Listed By:
Patrick Nutt · License #BK3120739
Source:
Crexi
Added: Apr 6
Changed: Aug 30
Last Checked: Jul 21 at 3:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners Tampa
Investment Insights
Based on property information with market context.
This strip mall contains 11,360 square feet and was constructed in 1972. The property is zoned C Commercial and includes lease extensions supporting continued occupancy arrangements.
Located at 1213-1221 US-41 in Inverness, Florida, the center carries a 6.80% cap rate. The asset is offered as a retail property with an established commercial configuration.
Located at 1213-1221 US-41 in Inverness, Florida, the center carries a 6.80% cap rate. The asset is offered as a retail property with an established commercial configuration.
Key Highlights
- 11,360 SqFt retail strip mall
- 6.80% CAP
- Recent lease extensions
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
$109,141
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
5.22%
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%
$2,182,820
$2.2M
Cap Rate 7%
$1,559,157
$1.6M
Cap Rate 9%
$1,212,678
$1.2M
Market Conditions
NOI Build-Up for 11,360 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
$170.4K $15.00/SF
− Vacancy
−$14.5K −$1.28/SF
EGI
$155.9K $13.73/SF
− OpEx
−$46.8K −$4.12/SF
NOI
$109.1K $9.61/SF
Area
Citrus County, FL
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,182,820
Cap Rate 7%
$1,559,157
Cap Rate 9%
$1,212,678
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.82M
NOI $109,141 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.55M
$2.23M – $2.98M
NOI $178,680 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
Explore this area
Business Placement
Demographics for 34450, FL
10,788
Population
6,642
Households
1.6
Avg Household Size
59
Median Age
25%
College-Educated
92%
High-School Grad
31.2 sq mi
ZIP Area
346
Density / Sq Mi
$48,955
Median Household Income
$39,409
Median Earnings
$973
Median Rent
$210,200
Median Home Value
Market
Vacancy Rate% for Retail 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?
Strip mall - Commercial retail center with extended leases and C Commercial zoning in Inverness.
Where is this strip mall located?
The property is located at 1213-1221 US-41 Inverness, FL.
What is the asking price?
The asking price for this property is $2,090,000.
What are key features of this property?
This property features: 11,360 SqFt retail strip mall; 6.80% CAP; Recent lease extensions
