General Commercial Zoned
For Sale
Contact for pricing
3109 S Florida Ave, Inverness, FL 34450
A 1.85-acre development site with General Commercial zoning and more than 383 feet of frontage on Hwy 41 S.
Property Size1,920 SF
Lot Size1.85 Acres
Price / SF$338.28
Days on Market16
Property Features for 3109 S Florida Ave
General Information
Standard status
Active
Size
1,920 SF
Lot size
1.85 Acres
Property subtype
RETAIL
Zoning
General Commercial
Site & Location
Traffic Count
11,200 vehicles/day
Highway Access
Yes
Road Access
Yes
Listing Agency:
CENTURY 21 J W Morton Real Estate, Inc.
(352) 476-5578
Listed By:
Luke Whitehurst · License #3273034
(352) 476-5578
Source:
Moodyscre
Added: Jul 22
Changed: Jul 26
Last Checked: Jul 26 at 5:51AM
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.
Investment Insights
Based on property information with market context.
A 1.85-acre development site zoned General Commercial with more than 383 feet of frontage on S Florida Avenue/Hwy 41 S. The property fronts a major roadway carrying approximately 11,200 AADT (per marketing materials) and offers a wide range of potential uses consistent with the existing zoning.
The listing notes the property is located just outside the city limits of Inverness within unincorporated Citrus County. To the east, the Rails to Trails system is referenced, with over 46 miles of paved trail included in the marketing description.
The City of Inverness is cited as having invested in beautification projects and new lakefront parks, and additional regional growth is referenced in the marketing materials. Buyers are encouraged to verify all zoning, dimensions, and use permissions through independent due diligence.
The listing notes the property is located just outside the city limits of Inverness within unincorporated Citrus County. To the east, the Rails to Trails system is referenced, with over 46 miles of paved trail included in the marketing description.
The City of Inverness is cited as having invested in beautification projects and new lakefront parks, and additional regional growth is referenced in the marketing materials. Buyers are encouraged to verify all zoning, dimensions, and use permissions through independent due diligence.
Key Highlights
- 1.85‑acre development site in Inverness, FL, zoned General Commercial
- Over 383 ft of frontage on S Florida Avenue / Hwy 41 S
- Property fronts Hwy 41 S with 11,200 AADT
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
$18,446
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
2.84%
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%
$368,920
$368.9K
Cap Rate 7%
$263,514
$263.5K
Cap Rate 9%
$204,956
$205.0K
Market Conditions
NOI Build-Up for 1,920 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
$28.8K $15.00/SF
− Vacancy
−$2.4K −$1.28/SF
EGI
$26.4K $13.73/SF
− OpEx
−$7.9K −$4.12/SF
NOI
$18.4K $9.61/SF
Area
Citrus County, FL
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$368,920
Cap Rate 7%
$263,514
Cap Rate 9%
$204,956
Alternative Uses
Best Use
Retail
$263.5K
$230.6K – $307.4K
NOI $18,446 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$431.4K
$377.5K – $503.3K
NOI $30,199 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
11,200 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 34450, FL
10,788
Population
6,642
Households
1.6
Avg Household Size
59
Median Age
25%
College-Educated
92%
High-School Grad
31.2 sq mi
ZIP Area
346
Density / Sq Mi
$48,955
Median Household Income
$39,409
Median Earnings
$973
Median Rent
$210,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - A 1.85-acre development site with General Commercial zoning and more than 383 feet of frontage on Hwy 41 S.
Where is this commercial land located?
The property is located at 3109 S Florida Ave Inverness, FL.
What is the asking price?
The asking price for this property is $649,500.
What are key features of this property?
This property features: 1.85‑acre development site in Inverness, FL, zoned General Commercial; Over 383 ft of frontage on S Florida Avenue / Hwy 41 S; Property fronts Hwy 41 S with 11,200 AADT
