Highway Retail Strip
For Sale
$395,000
3161 E Gulf To Lake Hwy, Inverness, FL 34453
Three storefront units offer customer-facing retail space with front and rear parking.
Property Size2,275 SF
Price / SF$173.63
Days on Market58
Property Features for 3161 E Gulf To Lake Hwy
General Information
Standard status
Active
Size
2,275 SF
Site & Location
Pylon Signage
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,347
Building Details
Tenancy
Multi
Listing Agency:
CENTURY 21 J.W.MORTON R.E.
(352) 726-6668
Listed By:
Jim Morton
(352) 726-6668
Source:
Exprealty
Added: Jun 15
Changed: Aug 11
Last Checked: Aug 11 at 3:31AM
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 R.E.
Investment Insights
Based on property information with market context.
This retail strip center contains three storefront units with approximately 2,275 total sq ft and 2,535 sq ft under roof. Unit sizes are approximately 824 sf, 613 sf, and 837.5 sf, providing a multi-suite commercial configuration. The property includes front and rear parking, a large lighted pylon sign, and central water.
Located at 3161 E Gulf to Lake Hwy on the west side of Inverness, the center has 80' of highway frontage along Hwy 44 West. Its individual retail spaces and visible roadside signage create a straightforward format for commercial occupancy.
Located at 3161 E Gulf to Lake Hwy on the west side of Inverness, the center has 80' of highway frontage along Hwy 44 West. Its individual retail spaces and visible roadside signage create a straightforward format for commercial occupancy.
Key Highlights
- Three retail units totaling 2,275 total sq ft
- 2,535 sq ft under roof
- Unit sizes of 824 sf, 613 sf, and 837.5 sf
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
$21,857
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
5.53%
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%
$437,140
$437.1K
Cap Rate 7%
$312,243
$312.2K
Cap Rate 9%
$242,856
$242.9K
Market Conditions
NOI Build-Up for 2,275 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
$34.1K $15.00/SF
− Vacancy
−$2.9K −$1.28/SF
EGI
$31.2K $13.73/SF
− OpEx
−$9.4K −$4.12/SF
NOI
$21.9K $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%
$437,140
Cap Rate 7%
$312,243
Cap Rate 9%
$242,856
Alternative Uses
Best Use
Retail
$312.2K
$273.2K – $364.3K
NOI $21,857 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$511.2K
$447.3K – $596.4K
NOI $35,783 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 34453, FL
10,964
Population
5,628
Households
1.9
Avg Household Size
54
Median Age
19%
College-Educated
94%
High-School Grad
27.1 sq mi
ZIP Area
405
Density / Sq Mi
$58,064
Median Household Income
$33,341
Median Earnings
$1,046
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Three storefront units offer customer-facing retail space with front and rear parking.
Where is this strip mall located?
The property is located at 3161 E Gulf To Lake Hwy Inverness, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three retail units totaling 2,275 total sq ft; 2,535 sq ft under roof; Unit sizes of 824 sf, 613 sf, and 837.5 sf
