Flex Space with
5326 South Florida Avenue, Inverness, FL 34450
For Sale
$719,000
IND-zoned office and warehouse areas are arranged for separate occupancy or combined operations.
Property Size6,896 SF
Price / SF$104.26
Days on Market179
Property Features for 5326 South Florida Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Utilities to Site
Warehouse & Industrial
Warehouse Space
Office Build-Out
Drive-In Doors
Additional Details
Gross Income
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Keller Williams Realty Elite Partners/L
Listed By:
Bruce Brunk · License FL #3138787
(352) 637-2777
Source:
Realnex
Added: May 18
Changed: Sep 26
Last Checked: Nov 12 at 4:09AM
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/L
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Investment Insights
Based on property information with market context.
At 5326 South Florida Avenue, this 1979-built flex property contains 6,896 square feet of leasable space across office and warehouse areas. The front office section measures 2,346 square feet and includes 10 offices, four bathrooms, three exterior entrances, and two interior connections to the warehouse. The warehouse comprises 4,550 square feet, with concrete floors, high ceilings, two bathrooms, and three grade-level garage doors. Improvements include a metal roof and air conditioning dating to 2009; the property has public water and septic and is outside a flood zone.
The property is at the corner of US-41/South Florida Avenue and Pendant Point in Inverness. The South Florida Avenue frontage is on a commercial corridor with reported traffic of 16,400 AADT. Downtown Inverness and the Withlacoochee State Trail are described as minutes away.
The warehouse is leased through 2033, with a five-year renewal option and annual 2% increases. The office area is leased month-to-month. Zoning is IND.
The property is at the corner of US-41/South Florida Avenue and Pendant Point in Inverness. The South Florida Avenue frontage is on a commercial corridor with reported traffic of 16,400 AADT. Downtown Inverness and the Withlacoochee State Trail are described as minutes away.
The warehouse is leased through 2033, with a five-year renewal option and annual 2% increases. The office area is leased month-to-month. Zoning is IND.
Key Highlights
- 6,896 total leasable square feet: 2,346 in offices and 4,550 in the warehouse
- Office section has 10 offices, four bathrooms, three exterior entrances, and two warehouse connections
- Warehouse includes concrete floors, high ceilings, two bathrooms, and three grade‑level garage doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,585
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,291,700
$1.3M
Cap Rate 7%
$922,643
$922.6K
Cap Rate 9%
$717,611
$717.6K
Market Conditions
NOI Build-Up for 6,896 SF
Gross rent
$111.7K $16.20/SF
− Vacancy
−$8.4K −$1.22/SF
EGI
$103.3K $14.99/SF
− OpEx
−$38.8K −$5.62/SF
NOI
$64.6K $9.37/SF
Area
Citrus County, FL
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,291,700
Cap Rate 7%
$922,643
Cap Rate 9%
$717,611
Alternative Uses
Best Use
Flex RnD
$1.13M
$988.0K – $1.32M
NOI $79,037 @ 7.0% cap · market cap 10.99%
Second Best
Mixed Use
$922.6K
$807.3K – $1.08M
NOI $64,585 @ 7.0% cap · market cap 8.98%
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.
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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
$210,200
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Citrus County, FL
Properties on Market for Flex space in Citrus County
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - IND-zoned office and warehouse areas are arranged for separate occupancy or combined operations.
Where is this flex space located?
The property is located at 5326 South 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 total leasable square feet: 2,346 in offices and 4,550 in the warehouse; Office section has 10 offices, four bathrooms, three exterior entrances, and two warehouse connections; Warehouse includes concrete floors, high ceilings, two bathrooms, and three grade‑level garage doors
