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    Prime Corner Lot in Inverness Title is generated by Realmo AI

    1601 W Main St, Inverness, FL 34450

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    Strategically located 1.84-acre corner lot in Historic Downtown Inverness.

    Type:Retail, Industrial, Hospitality, Land
    Property size:
    12,900 SF
    Lot size:
    1.84 Acres
    Price / SF:
    $182/SF
    Added:
    Jan 22, 2024
    Days on Market:
    870
    Last Refresh:
    May 12 at 11:02 pm

    Property Features for 1601 W Main St

    General Information

    Standard status
    Active
    Size
    12,900 SF
    Lot size
    1.84 Acres
    Property subtype
    Retail, Industrial, Hospitality, Land

    Building Details

    Year Built
    1971

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    Listing Contact
    Elias George Kirallah

    Listing agent Elias George Kirallah License #BK3123414

    Listing office Century 21 J W Morton Real Estate Inc

    Listing date Jan 22, 2024

    Source Crexi

    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 Real Estate Inc

    HighLights

    • Prime corner lot location in Historic Downtown Inverness on SR 44/W Main Street with high visibility (30,500 AADT).
    • C‑Commercial zoning on 1.84 acres allows for diverse uses with 70% FAR lot coverage.
    • Located in a prime retailer hub surrounded by national retailers, experiencing 70% more commercial activity than other corridors.
    • Projected population growth in Citrus County to 350,000 residents, driven by Suncoast Parkway expansion.
    • Over 200 feet of highway frontage with easy access from two roads.
    • Proximity to key facilities: Courthouse Square, Citrus County Courthouse, Tax Collectors, Citrus Memorial Hospital, and the Depot District.

    Overview

    Strategically positioned on the southwest corner of SR 44/W Main Street within the city limits of Historic Downtown Inverness, this 1.84-acre property boasts over 200 feet of highway frontage and offers seamless ingress and egress from two roads. The property is situated on a 200’x400’ corner lot. The facility, originally constructed in 1971, spans 12,900 square feet, including a 2,850 square feet sales department and a 10,320 square feet repair garage. It features 15 grade-level receiving doors ranging from 10 to 14 feet, six of which feature pull-through capabilities, as well as 12 to 16 feet high ceilings, 3 and 4 phase electrical supply, and three in-ground automobile/RV hydraulic lifts. The property is connected to City Water and Sewer. Zoned C-Commercial, it allows for a diverse range of uses, including all retail operations and other general neighborhood commercial activities including Medical/Professional Office, with the flexibility of up to a 70% FAR lot coverage. Nestled within the prime retailer HUB in Citrus County on SR 44, this property experiences 70% more commercial activity than any other transportation corridor in the region. Surrounded by a rich density of national and regional retailers such as Publix Supermarket, Winn-Dixie, Walmart, Lowe’s, T-J Maxx, and various branded Quick Service Restaurants, the location is just minutes away from Courthouse Square, Citrus County Courthouse, Tax Collectors, City Hall, Citrus Memorial Hospital, and the newly developed Depot District in Downtown on Lake Henderson. This site provides access to flourishing populations in Floral City (7.8 Miles), Lecanto (8.8 Miles), Beverly Hills (11.5 Miles), Crystal River (16.6 Miles), and Homosassa (18.8 Miles).

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $193.5k $15.00
    − Vacancy −$16.4k −$1.28
    EGI $177.1k $13.73
    − OpEx −$53.1k −$4.12
    NOI $123.9k $9.61
    12,900 SF · lease $15.00/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $1.77M
    $1.55M – $2.07M (±1% cap)
    NOI $123,937 @ 7.0% cap · market cap 5.27%
    Second Best
    Industrial
    $1.21M
    $1.06M – $1.42M (±1% cap)
    NOI $84,992 @ 7.0% cap · market cap 3.62%
    Theoretical Best
    Specialty Retail
    $2.90M
    $2.54M – $3.38M (±1% cap)
    NOI $202,902 @ 7.0% cap · market cap 8.63%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Como Rv Car Dealership

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.3493663
    Latitude
    28.8354837

    FAQs

    What type of property is this?
    Retail property - Strategically located 1.84-acre corner lot in Historic Downtown Inverness.
    Where is this retail property located?
    The property is located at 1601 W Main St Inverness, FL.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: Prime corner lot location in Historic Downtown Inverness on SR 44/W Main Street with high visibility (30,500 AADT).; C‑Commercial zoning on 1.84 acres allows for diverse uses with 70% FAR lot coverage.; Located in a prime retailer hub surrounded by national retailers, experiencing 70% more commercial activity than other corridors.
    More about this property
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