Automotive Service Building with
For Sale
Contact for pricing
8929 E Gulf To Lake Hwy, Inverness, FL 34450
Fully renovated concrete-block service building with three grade-level roll-up doors, 12-foot ceilings, and 3-phase power.
Property Size4,010 SF
Lot Size0.78 Acres
Price / SF$83.54
Days on Market16
Property Features for 8929 E Gulf To Lake Hwy
General Information
Standard status
Active
Size
4,010 SF
Lot size
0.78 Acres
Property subtype
RETAIL
Zoning
CLC
Site & Location
Traffic Count
18,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
3
Heavy Power
Yes
Building Details
Construction
concrete block
Listing Agency:
CENTURY 21 J W Morton Real Estate, Inc.
(352) 400-2635
Listed By:
Elias George Kirallah · License #3123414
(352) 400-2635
Source:
Moodyscre
Added: Jul 22
Changed: Jul 26
Last Checked: Jul 26 at 5:07AM
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.
Investment Insights
Based on property information with market context.
This fully renovated concrete block automotive service building offers a versatile layout for commercial and service uses. The property includes a two-story build-out for office or other space planning, along with three 10' x 12' grade-level roll-up doors and 12-foot ceiling heights suited to service operations. Three-phase electric power is in place to support equipment needs, and recent updates include a new roof and comprehensive interior renovations.
Located along the high-traffic corridor of State Road 44 in Inverness, Florida, the site provides over 300 feet of visibility along Gulf to Lake Highway (SR 44), with approximately 18,000 vehicles reported as average daily traffic. The property also benefits from ample parking and open yard space, and it features rear access to the Tsala Apopka Chain of Lakes.
Zoned Coastal Lakes Commercial (CLC), the property allows for diverse commercial applications, including marine and automotive service facilities, contractor operations, retail establishments, and restaurant or bar concepts. The site sits on a 0.78-acre lot and provides a flexible base for equipment- and customer-facing operations.
Located along the high-traffic corridor of State Road 44 in Inverness, Florida, the site provides over 300 feet of visibility along Gulf to Lake Highway (SR 44), with approximately 18,000 vehicles reported as average daily traffic. The property also benefits from ample parking and open yard space, and it features rear access to the Tsala Apopka Chain of Lakes.
Zoned Coastal Lakes Commercial (CLC), the property allows for diverse commercial applications, including marine and automotive service facilities, contractor operations, retail establishments, and restaurant or bar concepts. The site sits on a 0.78-acre lot and provides a flexible base for equipment- and customer-facing operations.
Key Highlights
- 4,010 SF concrete‑block commercial building originally a mechanics facility, fully renovated with a two‑story build‑out
- Frontage and visibility on SR 44 (Gulf to Lake Hwy) with 300+ ft visibility and approx. 18,000 vehicles/day average daily traffic
- Three 10' x 12' grade‑level roll‑up doors plus 12‑foot ceiling heights for service or equipment‑oriented operations
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
$26,420
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
7.89%
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%
$528,400
$528.4K
Cap Rate 7%
$377,429
$377.4K
Cap Rate 9%
$293,556
$293.6K
Market Conditions
NOI Build-Up for 4,010 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
$39.9K $9.96/SF
− Vacancy
−$2.2K −$0.55/SF
EGI
$37.7K $9.41/SF
− OpEx
−$11.3K −$2.82/SF
NOI
$26.4K $6.59/SF
Area
Citrus County, FL
Vacancy
5.50%
Lease Rate
$9.96 /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%
$528,400
Cap Rate 7%
$377,429
Cap Rate 9%
$293,556
Alternative Uses
Best Use
Office B
$603.2K
$527.8K – $703.8K
NOI $42,225 @ 7.0% cap · market cap 12.60%
Second Best
Retail
$550.4K
$481.6K – $642.1K
NOI $38,526 @ 7.0% cap · market cap 11.50%
Theoretical Best
Specialty Retail
$901.0K
$788.4K – $1.05M
NOI $63,073 @ 7.0% cap · market cap 18.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12 ft
Clear height
3
Drive-in doors
18,000 VPD
Traffic count
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
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?
Auto shop - Fully renovated concrete-block service building with three grade-level roll-up doors, 12-foot ceilings, and 3-phase power.
Where is this auto shop located?
The property is located at 8929 E Gulf To Lake Hwy Inverness, FL.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 4,010 SF concrete‑block commercial building originally a mechanics facility, fully renovated with a two‑story build‑out; Frontage and visibility on SR 44 (Gulf to Lake Hwy) with 300+ ft visibility and approx. 18,000 vehicles/day average daily traffic; Three 10' x 12' grade‑level roll‑up doors plus 12‑foot ceiling heights for service or equipment‑oriented operations
