1601 W Main St, Inverness, FL 34450
Strategically located 1.84-acre corner lot in Historic Downtown Inverness.
- Added:
- Jan 22, 2024
- Days on Market:
- 870
- Last Refresh:
- May 12 at 11:02 pm
Property Features for 1601 W Main St
General Information
- Standard status
- Active
- Size
- 12,900 SF
- Lot size
- 1.84 Acres
- Property subtype
- Retail, Industrial, Hospitality, Land
Building Details
- Year Built
- 1971
Listing agent Elias George Kirallah License #BK3123414
Listing office Century 21 J W Morton Real Estate Inc
Listing date Jan 22, 2024
Source Crexi
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
HighLights
- Prime corner lot location in Historic Downtown Inverness on SR 44/W Main Street with high visibility (30,500 AADT).
- C‑Commercial zoning on 1.84 acres allows for diverse uses with 70% FAR lot coverage.
- Located in a prime retailer hub surrounded by national retailers, experiencing 70% more commercial activity than other corridors.
- Projected population growth in Citrus County to 350,000 residents, driven by Suncoast Parkway expansion.
- Over 200 feet of highway frontage with easy access from two roads.
- Proximity to key facilities: Courthouse Square, Citrus County Courthouse, Tax Collectors, Citrus Memorial Hospital, and the Depot District.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.5k | $15.00 |
| − Vacancy | −$16.4k | −$1.28 |
| EGI | $177.1k | $13.73 |
| − OpEx | −$53.1k | −$4.12 |
| NOI | $123.9k | $9.61 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Inverness
- County
- Citrus
- State
- Florida
- Longitude
- -82.3493663
- Latitude
- 28.8354837