Prime Commercial Land
For Sale
$649,500
3109 S Florida Ave, Inverness, FL 34450
Expansive 1.85-acre commercial site with high traffic frontage.
Property Size1,920 SF
Lot Size1.85 Acres
Price / SF$338.28
Days on Market1668
Property Features for 3109 S Florida Ave
General Information
Standard status
Active
Size
1,920 SF
Lot size
1.85 Acres
Taxes and HOA fees
Annual Taxes
$2,585
Listing Agency:
CENTURY 21 J.W.MORTON R.E.
(352) 726-6668
Listed By:
Luke K Whitehurst · License #3273034
(352) 476-5578
Source:
Exprealty
Added: Mar 13, 2022
Changed: Oct 3
Last Checked: Oct 5 at 9:30PM
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 R.E.
Investment Insights
Based on property information with market context.
This 1.85-acre site, zoned General Commercial, offers significant development potential with over 383 feet of road frontage on S Florida Avenue/Hwy 41 S, which experiences a high traffic count of 11,200 AADT. The property is located in Inverness, Citrus County, Florida, just outside the city limits, providing the benefit of lower taxes while maintaining close proximity to Historic Downtown Inverness. The General Commercial zoning allows for a variety of uses, including retail, general commercial, professional or medical offices, gas stations and convenience stores, and restaurants and bars. The location is near the Rails to Trails, which offers over 46 miles of paved trails, attracting eco-tourists and cycling enthusiasts. Citrus County is experiencing growth, with a recent $135 million expansion of the Suncoast Parkway and planned future extensions. The property is a short drive from a customer base of over 46,000 residents. Citrus County's population is expected to reach an estimated 350,000 residents by 2030. The site is part of the Tampa–St. Petersburg–Clearwater MSA and offers access to Floral City, Lecanto, Beverly Hills, Crystal River, and Homosassa. The City of Inverness has invested in enhancing the town’s aesthetic appeal with new lakefront parks. The Suncoast Parkway recently opened with a $135 million expansion, extending 13 miles north from US-98 to SR 44.
Key Highlights
- 1.85‑acre site with General Commercial zoning for diverse development.
- Over 383 feet of prime road frontage** on S Florida Avenue/Hwy 41 S with high traffic count.
- Strategic location in the rapidly growing Historic Nature Coast Town of Inverness, Citrus County, Florida.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,199
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,980
$604.0K
Cap Rate 7%
$431,414
$431.4K
Cap Rate 9%
$335,544
$335.5K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$42.2K $21.96/SF
− Vacancy
−$1.9K −$0.99/SF
EGI
$40.3K $20.97/SF
− OpEx
−$10.1K −$5.24/SF
NOI
$30.2K $15.73/SF
Area
Citrus County, FL
Vacancy
4.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,980
Cap Rate 7%
$431,414
Cap Rate 9%
$335,544
Alternative Uses
Best Use
Specialty Retail
$431.4K
$377.5K – $503.3K
NOI $30,199 @ 7.0% cap · market cap 4.65%
Second Best
Office B
$288.8K
$252.7K – $337.0K
NOI $20,218 @ 7.0% cap · market cap 3.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - Expansive 1.85-acre commercial site with high traffic frontage.
Where is this commercial land located?
The property is located at 3109 S Florida Ave Inverness, FL.
What is the asking price?
The asking price for this property is $649,500.
What are key features of this property?
This property features: 1.85‑acre site with General Commercial zoning for diverse development.; Over 383 feet of prime road frontage** on S Florida Avenue/Hwy 41 S with high traffic count.; Strategic location in the rapidly growing Historic Nature Coast Town of Inverness, Citrus County, Florida.
