Flex Space with
For Sale
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5326 S Florida Avenue, Inverness, FL 34450
Corner commercial property combining office suites and warehouse space with industrial zoning and access from both directions.
Property Size7,000 SF
Price / SF$102.71
Days on Market105
Property Features for 5326 S Florida Avenue
General Information
Standard status
Active
Size
7,000 SF
Class
C
Total Parking Spaces
6
Property subtype
Industrial
Zoning
IND
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$75,499
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
4,550 SF
Office Build-Out
2,346 SF
Drive-In Doors
3
Building Details
Year Built
1979
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty Elite Partners II
(352) 228-7744
Listed By:
Bruce Brunk · License #SL318787
Source:
Crexi
Added: May 18
Changed: Aug 30
Last Checked: Aug 30 at 4:06PM
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 Keller Williams Realty Elite Partners II
Investment Insights
Based on property information with market context.
This flex property combines office and warehouse components within a 1979-built commercial building. The office area provides 2,346 leasable square feet, 10 offices, three exterior entrances, four bathrooms, and two internal connections to the warehouse. The warehouse contributes 4,550 leasable square feet, concrete floors, high ceilings, two bathrooms, and three grade-level garage doors. A metal roof and AC installed in 2009 are also part of the improvements.
Positioned at the corner of US-41 and Pendant Pt in Inverness, the property has frontage on S Florida Avenue and reported traffic of 16,400 AADT. Access is available in both directions, with the site located near downtown Inverness and the Withlacoochee State Trail. The surrounding setting includes commercial, light industrial, and service businesses.
The property carries IND zoning and has public water with septic service. It is identified as being outside a flood zone. A warehouse lease is in place through 2033, with a five-year renewal option and 2% annual increases.
Positioned at the corner of US-41 and Pendant Pt in Inverness, the property has frontage on S Florida Avenue and reported traffic of 16,400 AADT. Access is available in both directions, with the site located near downtown Inverness and the Withlacoochee State Trail. The surrounding setting includes commercial, light industrial, and service businesses.
The property carries IND zoning and has public water with septic service. It is identified as being outside a flood zone. A warehouse lease is in place through 2033, with a five-year renewal option and 2% annual increases.
Key Highlights
- 6,896 combined leasable square feet across office and warehouse areas
- Office component includes 2,346 leasable square feet, 10 offices, and 4 bathrooms
- Warehouse provides 4,550 leasable square feet, concrete floors, and high ceilings
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
$50,873
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
7.08%
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%
$1,017,460
$1.0M
Cap Rate 7%
$726,757
$726.8K
Cap Rate 9%
$565,256
$565.3K
Market Conditions
NOI Build-Up for 7,000 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
$63.0K $9.00/SF
− Vacancy
−$3.2K −$0.45/SF
EGI
$59.9K $8.55/SF
− OpEx
−$9.0K −$1.28/SF
NOI
$50.9K $7.27/SF
Area
Citrus County, FL
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,017,460
Cap Rate 7%
$726,757
Cap Rate 9%
$565,256
Alternative Uses
Best Use
Flex RnD
$1.15M
$1.00M – $1.34M
NOI $80,229 @ 7.0% cap · market cap 11.16%
Second Best
Office B
$1.05M
$921.4K – $1.23M
NOI $73,710 @ 7.0% cap · market cap 10.25%
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.84M
NOI $110,102 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Balanced
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial property combining office suites and warehouse space with industrial zoning and access from both directions.
Where is this flex space located?
The property is located at 5326 S Florida Avenue Inverness, FL.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: 6,896 combined leasable square feet across office and warehouse areas; Office component includes 2,346 leasable square feet, 10 offices, and 4 bathrooms; Warehouse provides 4,550 leasable square feet, concrete floors, and high ceilings
