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    Prime Commercial Land on SR 44 Title is generated by Realmo AI

    3413 & 3456 E Gulf To Lake Highway, Inverness, FL 34453

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    For Sale
    $129,900

    0.53-acre commercial property with highway frontage in high-growth area.

    Type:Lots/Land
    Lot size:
    0.53 Acres
    Added:
    Jan 21, 2025
    Days on Market:
    498
    Last Refresh:
    Apr 16 at 11:04 pm

    Property Features for 3413 & 3456 E Gulf To Lake Highway

    General Information

    Standard status
    Active
    Lot size
    0.53 Acres
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Elias Kirallah
    Elias Kirallah

    Listing agent Elias Kirallah License #3123414

    Listing office Century 21 J.W.Morton R.E.

    Listing date Jan 21, 2025

    Source Exitrealty

    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 Century 21 J.W.Morton R.E.

    HighLights

    • High‑Growth Location: Benefit from the Suncoast Parkway Extension and proximity to Tampa.
    • Excellent Commercial Potential: General Commercial zoning allows up to 70% site utilization.
    • Prime Location: Situated at the corner of SR 44 and S Arlene Ave, with 55 feet of highway frontage.
    • Proximity to Amenities: Located within 1.3 miles of major national retailers and essential services.
    • Strong Demographics: Located in an area with a substantial and growing population.
    • Investment Opportunity: Part of a large MSA with affordable land prices and ongoing infrastructure investment.

    Overview

    This 0.53-acre General Commercial property is located within the SR 44 Commercial Corridor in Citrus County. It features 55 feet of highway frontage and access to public water, with a future sewer connection planned. Situated at the northeast corner of SR 44 and S Arlene Ave, the property is 3.5 miles east of Downtown Inverness, which houses major county offices and Citrus Memorial Hospital. National retailers such as Walmart, Lowe’s, TJ Maxx, and Regal Cinema, along with quick-service restaurants and financial institutions, are within 1.3 miles. The General Commercial zoning allows up to 70% site utilization, making it suitable for retail, medical offices, or professional spaces. The Inverness area supports a population of 32,510, while Citrus County has over 155,000 residents. The Suncoast Parkway Extension is expected to provide quick access to Tampa International Airport and surrounding counties. The area has 60,000 vacant parcels, ongoing infrastructure investment, and zoning to accommodate future growth to 350,000 residents. This property presents an opportunity to invest in a growing region.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.3772954
    Latitude
    28.8507113

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    FAQs

    What type of property is this?
    Commercial land - 0.53-acre commercial property with highway frontage in high-growth area.
    Where is this commercial land located?
    The property is located at 3413 & 3456 E Gulf To Lake Highway Inverness, FL.
    What is the asking price?
    The asking price for this property is $129,900.
    What are key features of this property?
    This property features: High‑Growth Location: Benefit from the Suncoast Parkway Extension and proximity to Tampa.; Excellent Commercial Potential: General Commercial zoning allows up to 70% site utilization.; Prime Location: Situated at the corner of SR 44 and S Arlene Ave, with 55 feet of highway frontage.
    (352) 400-2635
    We can help!
    Listing Contact
    Elias Kirallah
    Elias Kirallah
    Real Estate License ID: 3123414
    Learn More
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    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
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    3413 & 3456 E Gulf To Lake Highway, Inverness, FL 34453
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