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    Fully Renovated Executive Office Building Title is generated by Realmo AI

    2519 W Highway 44, Inverness, FL 34453

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    Pending
    $699,000

    SINGLE_FAMILY - Inverness, FL

    Type:Office
    Property size:
    3,200 SF
    Lot size:
    0.71 Acres
    Added:
    Sep 20, 2024
    Days on Market:
    625
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for 2519 W Highway 44

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    C
    Parking
    32
    Interior features
    HighCeilings
    Standard status
    Pending
    APN
    1690731
    Lot size
    0.71 Acres

    Taxes and HOA fees

    Tax Year
    2018
    Tax Annual Amount
    6736

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Floors in Building
    1
    Flooring type
    Tile
    Building materials
    Block, Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Elias Kirallah
    Elias Kirallah

    Listing agent Elias Kirallah License #3123414

    Listing office Century 21 J.W.Morton R.E. 1645 W Main Street, Inverness, FL

    Listing date Sep 20, 2024

    MLS# 837691

    Copyright © 2026 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3,200 SF executive office building built in 1985 on 0.71 acres of General Commercial‑zoned land
    • Located directly on State Road 44 (29,500 AADT) with 37 parking spaces
    • Current tenant lease: corporate‑guaranteed NNN with 2.5% annual rent increases and two 3‑year renewal options
    • Interior includes four private offices, large conference room, reception, mail/copy room, oversized lobby, and breakroom
    • Amenities include three ADA‑compliant restrooms and central air; flooring is tile and roof is metal
    • Utilities: public water and public sewer

    Overview

    This fully renovated executive office building offers a functional suite layout with four private offices, a large conference room, reception, mail/copy room, oversized lobby, and a breakroom. The property includes three ADA-compliant restrooms and is finished for a professional work environment. The building is supported by full city utilities and is offered with 37 parking spaces to accommodate staff and visitors.

    The property is located in Citrus County and sits directly on State Road 44, which is listed at 29,500 AADT. The site is on 0.71 acres of General Commercial-zoned land, providing a commercially oriented setting and straightforward access for daily operations. Additional context includes proximity to Historic Downtown Inverness and regional access to major communities in the area. Tampa International Airport is noted as approximately 55 minutes away.

    For buyers or investors, the building is currently leased to a national newspaper conglomerate under a corporate-guaranteed NNN lease, with 2.5% annual rent increases and two 3-year renewal options. For end-users, the combination of private office space, conference capability, ADA accessibility, and on-site parking supports professional or medical uses as described by the owner’s materials. All prospective parties are encouraged to verify zoning, lease terms, and operating details during their due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Overall Supply Inc Department Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.363703
    Latitude
    28.8421

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    FAQs

    What type of property is this?
    Office building - Turnkey executive office building with private offices, ADA restrooms, and ample parking on a heavily traveled corridor.
    Where is this office building located?
    The property is located at 2519 W Highway 44 Inverness, FL.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: 3,200 SF executive office building built in 1985 on 0.71 acres of General Commercial‑zoned land; Located directly on State Road 44 (29,500 AADT) with 37 parking spaces; Current tenant lease: corporate‑guaranteed NNN with 2.5% annual rent increases and two 3‑year renewal options
    (352) 400-2635
    We can help!
    Listing Contact
    Elias Kirallah
    Elias Kirallah
    Real Estate License ID: 3123414
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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.

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