2322 W Main Street Inverness, FL 34452

This centrally located 6.41-acre development site in Inverness, Florida, offers a compelling opportunity for multifamily or alternative residential development. Zoned R-3 Residential, the property allows for up to 10 units per acre with building heights up to three stories, accommodating garden-style apartments, workforce housing, and senior-oriented residential projects. City water and sewer access are available via a designated easement, supporting current density allowances and potential increased density through future zoning considerations. Situated just off SR 44 / Gulf to Lake Highway with approximately 28,000 AADT and within city limits, the site provides accessibility and connectivity to the surrounding region. Key demand drivers such as Citrus Memorial Hospital, Publix, and the upcoming Aldi are nearby, along with Downtown Inverness Square, featuring restaurants, boutiques, and local retail. Recreational amenities like Whispering Pines Park and the Tsala Apopka Chain of Lakes enhance the location's appeal. The site is within a 15-minute drive of Lecanto, Hernando, and Floral City. The Inverness submarket demonstrates stable rental performance due to limited rental supply. One-bedroom units (600 to 800 square feet) achieve rents between $900 and $1,150 per month, while two-bedroom units (850 to 1,100 square feet) achieve rents between $1,050 and $1,350 per month. The market is influenced by a concentration of retirement and senior households, creating demand for workforce housing, downsized living, and assisted or independent living concepts. Citrus County has approximately 153,600 residents, with long-term planning capacity for approximately 350,000 residents. Continued residential expansion, infrastructure investment, and regional economic development are driving increased demand for healthcare, service, and retail facilities throughout the county.