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    Inverness Commercial Property on SR 44 Title is generated by Realmo AI

    8929 E Gulf To Lake Highway, Inverness, FL 34450

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    For Sale
    $335,000

    SINGLE_FAMILY - Inverness, FL

    Type:Retail
    Property size:
    4,010 SF
    Lot size:
    0.78 Acres
    Price / SF:
    $83/SF
    Added:
    Apr 2, 2025
    Days on Market:
    421
    Last Refresh:
    May 27 at 12:06 am

    Property Features for 8929 E Gulf To Lake Highway

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    CLC,CLR
    Parking
    20
    Parking features
    Driveway, Assigned
    Interior features
    HighCeilings
    Exterior features
    PavedDriveway
    Standard status
    Active
    APN
    1738628
    Size
    4,010 SF
    Lot size
    0.78 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    HICKORY HILL RETS UNIT 2 PB 3 PG 75 LOTS 3 & 4 BLK 4
    Tax Annual Amount
    3589

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well
    Water front features
    Lake, Lake Front
    Water front
    1

    Building Details

    Year built
    1972
    Floors in Building
    2
    Flooring type
    Concrete
    Building materials
    Block, Concrete
    Roof type
    Shingle, Asphalt

    We can help!

    Listing Contact
    Elias Kirallah
    Elias Kirallah

    Listing agent Elias Kirallah License #3123414

    Listing office Century 21 J.W.Morton R.E. 1645 W Main Street, Inverness, FL

    Listing date Apr 2, 2025

    MLS# 843269

    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.

    Overview

    Located in Inverness, Citrus County, Florida, this renovated commercial property offers a rare investment opportunity with direct access to the Tsala Apopka Chain of Lakes. The 4,010-square-foot concrete block structure, originally a mechanics facility, has been modernized to support a wide range of commercial uses. It features three 10'x12' grade-level roll-up doors, 12-foot ceiling heights, and 3-phase electric power. A two-story build-out provides flexibility for office use or potential live/work arrangements. Recent updates include a new roof and comprehensive interior renovations. Situated on a 0.78-acre lot with over 300 feet of visibility along Gulf to Lake Highway (SR 44), the site benefits from an average daily traffic volume of approximately 18,000 vehicles. 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 property's rear access to the Tsala Apopka Chain of Lakes provides direct water access for marine-related services and recreational uses, enhancing visibility and appeal for destination-driven businesses. The property is located 3.2 miles from Downtown Inverness, 9.1 miles from Floral City, 20.8 miles from Crystal River, and 21.3 miles from The Villages. Citrus County has approximately 153,600 residents and is projected to reach nearly 350,000 by 2030. The property is part of the Tampa-St. Petersburg-Clearwater Metropolitan Statistical Area.
    Location Intelligence

    Current Use by Public Records

    Automotive properties

    Suggested Use

    Restaurant Building Supply Kitchen & Bath Showroom Garden Center Electronics & Wireless Store Plumbing Service (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.2849383
    Latitude
    28.8439042

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    FAQs

    What type of property is this?
    Retail property - Renovated commercial property with lake access on high-traffic SR 44.
    Where is this retail property located?
    The property is located at 8929 E Gulf To Lake Highway Inverness, FL.
    What is the asking price?
    The asking price for this property is $335,000.
    (352) 400-2635
    We can help!
    Listing Contact
    Elias Kirallah
    Elias Kirallah
    Real Estate License ID: 3123414
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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