General Commercial Zoned
3109 S Florida Ave, Inverness, FL 34450
For Sale
Contact for pricing
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 Market111
Property Features for 3109 S Florida Ave
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Traffic Count
Highway Access
Road Access
Listing Agency:
CENTURY 21 J W Morton Real Estate, Inc.
(352) 726-6668
Listed By:
Luke Whitehurst · License FL #3273034
(352) 476-5578
Source:
Moodyscre
Added: Jul 22
Changed: Oct 26
Last Checked: Nov 8 at 6:39AM
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.
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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 / Yr
$18,446
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Commercial land in Inverness
Vacancy Rate% for Retail in South region
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
