Flex Space With
For Sale
$719,000
5326 S Florida Avenue, Inverness, FL 34450
CommercialSale, Inverness, FL
Property Size6,896 SF
Lot Size0.38 Acres
Price / SF$104.26
Days on Market130
Property Features for 5326 S Florida Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IND
Parking
6
Parking features
Parking Lot
Interior features
FirstFloorEntry
Subdivision
Not on List
Lot features
Irregular Lot
Directions
Head north on US-41/S Florida Avenue towards Floral City, building on your right (corner of Pendant Pt)
Standard status
Active
APN
1891795
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WITHLAPOPKA ISL UNIT 6 PB 5 PG 64 LOT 68 BLK B
Tax Annual Amount
4301
Legal Description
WITHLAPOPKA ISL UNIT 6 PB 5 PG 64 LOT 68 BLK B
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Keller Williams Realty - Elite Partners II
(352) 637-2777
Listed By:
Bruce Brunk · License #3138787
(352) 228-7744
Added: May 18
Changed: Sep 23
Last Checked: Sep 24 at 3:06AM
MLS# 854792
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.
Investment Insights
Based on property information with market context.
This flex property combines office and warehouse space within a 1979 commercial building. The front portion provides 2,346 leasable space with 10 offices, three exterior entrances, four bathrooms, and two internal connections to the warehouse; the layout can accommodate three separate office tenants. The warehouse contributes 4,550 leasable space, concrete floors, high ceilings, two bathrooms, and three grade-level garage doors.
The property occupies 0.38 acres at 5326 S Florida Avenue in Inverness, positioned at the corner of US-41/S Florida Avenue and Pendant Pt. It offers frontage along S Florida Avenue, reported traffic of 16,400 AADT, and access in both directions. Building features include a metal roof, central air installed in 2009, public water, septic service, and a parking lot. The site is identified as IND zoning and is outside a flood zone.
A warehouse lease is in place for 5 years with a 5-year renewal option, a 2% annual increase, and an expiration in 2033. The property also carries an estimated 10%+ cap rate.
The property occupies 0.38 acres at 5326 S Florida Avenue in Inverness, positioned at the corner of US-41/S Florida Avenue and Pendant Pt. It offers frontage along S Florida Avenue, reported traffic of 16,400 AADT, and access in both directions. Building features include a metal roof, central air installed in 2009, public water, septic service, and a parking lot. The site is identified as IND zoning and is outside a flood zone.
A warehouse lease is in place for 5 years with a 5-year renewal option, a 2% annual increase, and an expiration in 2033. The property also carries an estimated 10%+ cap rate.
Key Highlights
- 6,896 combined leasable space across office and warehouse areas
- 2,346 leasable office area with 10 offices, 4 bathrooms, and 3 exterior entrances
- 4,550 leasable warehouse area with 3 grade‑level garage doors and concrete floors
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
$50,117
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
6.97%
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%
$1,002,340
$1.0M
Cap Rate 7%
$715,957
$716.0K
Cap Rate 9%
$556,856
$556.9K
Market Conditions
NOI Build-Up for 6,896 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
$62.1K $9.00/SF
− Vacancy
−$3.1K −$0.45/SF
EGI
$59.0K $8.55/SF
− OpEx
−$8.8K −$1.28/SF
NOI
$50.1K $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%
$1,002,340
Cap Rate 7%
$715,957
Cap Rate 9%
$556,856
Alternative Uses
Best Use
Flex RnD
$1.13M
$988.0K – $1.32M
NOI $79,037 @ 7.0% cap · market cap 10.99%
Second Best
Warehouse
$716.0K
$626.5K – $835.3K
NOI $50,117 @ 7.0% cap · market cap 6.97%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,466 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner-positioned commercial facility with office accommodations, warehouse space, and IND zoning along S Florida Avenue.
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 space across office and warehouse areas; 2,346 leasable office area with 10 offices, 4 bathrooms, and 3 exterior entrances; 4,550 leasable warehouse area with 3 grade‑level garage doors and concrete floors
