Medical Center with Surgical
For Sale
$1,075,000
Pending
403 W HIGHLAND BOULEVARD, Inverness, FL 34452
Concrete block medical facility with clinical, administrative, and procedure spaces for coordinated healthcare operations.
Property Size8,035 SF
Lot Size1.03 Acres
Days on Market536
Property Features for 403 W HIGHLAND BOULEVARD
General Information
Standard status
Pending
Size
8,035 SF
Total Parking Spaces
45
Lot size
1.03 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$732
Amenities
waiting room
reception area
exam rooms
procedure rooms
offices
restrooms
conference room
kitchen
storage rooms
file room
separate entrance wing
Building Details
Year Built
1986
Buildings
1
Construction
concrete block
Listing Agency:
Century 21 J.W.Morton R.E.
(352) 400-2635
Listed By:
Elias Kirallah · License #3123414
(352) 400-2635
Source:
Exitrealty
Added: Mar 13, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:11AM
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.
Investment Insights
Based on property information with market context.
This 8,035-square-foot medical center is a concrete block building constructed in 1986 on a 1.03-acre corner lot. The interior includes a patient waiting area, reception and front-office space, 12 exam rooms, 2 procedure or surgical rooms, and 14 offices for providers, staff, and nurses. Four restrooms, a conference or board room, kitchen, storage rooms, utility areas, and a file room support daily operations. An attached 2,000-square-foot wing has its own entrance and can accommodate a separate medical practice or expanded services.
The property is located in Historic Downtown Inverness within the Central Business District, adjacent to HCA Florida Citrus Memorial Hospital, a 204-bed acute care facility serving more than 40,000 patients annually. The surrounding area includes medical offices, pharmacies, financial institutions, schools, and restaurants. The site includes 45 newly resurfaced parking spaces, providing access for patients, staff, and visitors.
The property is located in Historic Downtown Inverness within the Central Business District, adjacent to HCA Florida Citrus Memorial Hospital, a 204-bed acute care facility serving more than 40,000 patients annually. The surrounding area includes medical offices, pharmacies, financial institutions, schools, and restaurants. The site includes 45 newly resurfaced parking spaces, providing access for patients, staff, and visitors.
Key Highlights
- 8,035‑square‑foot medical center on a 1.03‑acre corner lot
- 12 exam rooms and 2 procedure or surgical rooms
- 14 provider, staff, and nurse offices
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
$84,609
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
7.87%
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%
$1,692,180
$1.7M
Cap Rate 7%
$1,208,700
$1.2M
Cap Rate 9%
$940,100
$940.1K
Market Conditions
NOI Build-Up for 8,035 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
$144.6K $18.00/SF
− Vacancy
−$31.8K −$3.96/SF
EGI
$112.8K $14.04/SF
− OpEx
−$28.2K −$3.51/SF
NOI
$84.6K $10.53/SF
Area
Citrus County, FL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,692,180
Cap Rate 7%
$1,208,700
Cap Rate 9%
$940,100
Alternative Uses
Best Use
Healthcare Medical
$1.61M
$1.40M – $1.87M
NOI $112,357 @ 7.0% cap · market cap 10.45%
Second Best
Office B
$1.21M
$1.06M – $1.41M
NOI $84,609 @ 7.0% cap · market cap 7.87%
Theoretical Best
Specialty Retail
$1.81M
$1.58M – $2.11M
NOI $126,381 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 34452, FL
12,405
Population
6,353
Households
2
Avg Household Size
51
Median Age
14%
College-Educated
92%
High-School Grad
58.9 sq mi
ZIP Area
211
Density / Sq Mi
$58,199
Median Household Income
$39,339
Median Earnings
$1,182
Median Rent
$207,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Concrete block medical facility with clinical, administrative, and procedure spaces for coordinated healthcare operations.
Where is this medical center located?
The property is located at 403 W HIGHLAND BOULEVARD Inverness, FL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 8,035‑square‑foot medical center on a 1.03‑acre corner lot; 12 exam rooms and 2 procedure or surgical rooms; 14 provider, staff, and nurse offices
