Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,180,000
Office buildings
1 Dr Martin Luther King Jr Ave Inverness, FL 34450-4968
Entity Owned
17-yr Hold
Free & Clear
Property ID
US18-9683946
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,616 SF
Lot
1.1 ac (48,003 SF)
Zoning code
CBD CENTRAL BUSINESS DIST
APN
20E-19S-17-0050-01030-002.0
UPID
US18-9683946
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Citrus County Sheriff's Office Sheriff'S Department
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.74M
Comparable Approach
Comparable
$4.87M
Blend (final)
Blend
$4.18M
Owner & transaction history
Nationstar Mtg LLC · 17 yrs held
Nationstar Mtg LLC
since 2008
3 recorded transactions
Zoning & alternative use
CBD CENTRAL BUSINESS DIST · Inverness, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.2M
+68.7%
Medical building
$4.6M
+25.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Inverness submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Inverness submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,045,000
6.5%
$3,735,000
7%
$3,470,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,645,000
Current use
RESTAURANT
$6,150,000
Change: +69% · Conversion: Moderate
MEDICAL BUILDING
$4,565,000
Change: +25% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,615,000
Change: -1% · Conversion: Easy
RETAIL STORES
$3,000,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$4.18M
Range $3.76M – $4.60M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$193 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$68,284
Tax year 2023
Assessed value
$3,006,750
Assessed 2023
Previous assessed
$2,804,470
+7.2% YoY
Effective rate
2.27%
On assessed value
Assessed land
$372,480
Assessed improvement
$2,634,270
Land market value
$372,480
Improvement market value
$2,634,270
Total market value
$3,006,750
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Bathrooms
8
Total area
21,616 SF
Lot
1.1 ac (48,003 SF)
Zoning code
CBD CENTRAL BUSINESS DIST
APN
20E-19S-17-0050-01030-002.0
UPID
US18-9683946
Jurisdiction
CITRUS
Zoning & alternative use
CBD CENTRAL BUSINESS DIST · Inverness, FL
Zoning CBD CENTRAL BUSINESS DIST · permitted uses
CBD CENTRAL BUSINESS DIST · Inverness, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Inverness. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.6M
RESTAURANT
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$3.6M
RETAIL STORES
Est. value
$3.0M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
8
Lot
1.1 ac
Current owner
From public records · entity-resolved
Nationstar Mtg LLC
Entity
Free & Clear · 17 yrs held
Mailing address
3600 W SOVEREIGN PATH STE #266, LECANTO, FL 34461-7676
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2008
—
Nationstar Mtg LLC
Clerk Of Court Of Citrus County
Trustees Deed
related
—
Sep 23, 2008
—
Nationstar Mtg LLC
Clerk Of Court Of Citrus County
Trustees Deed
related
—
—
—
Salvatorre Bianco
—
Deed Of Trust
related
$7,500 · Martin FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1 Dr Martin Luther King Jr Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
