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    102 Highland Blvd Inverness, FL 34452

    • Office buildings
    • 2,520 SF
    • 0.37 lot acres
    For Sale
    View listing
    $450,000
    Value Estimations
    Cap Rate Potential
    9.8%
    Office buildings
    Location Intelligence
    Property ID
    US18-5309474
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • B&W Rexall Drugs / Pharmacy / Drug Store
    • William Snyder / Pharmacy
    • Wendy Ortiz / Pharmacy
    • Jessica E. Jarvis, PharmD / Pharmacy

    Property Details for 102 Highland Blvd

    Year built
    1994
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.37 lot acres
    Property size
    2,520 SF
    Zone code
    C COMMERCIAL
    Property type
    Office buildings
    APN
    20E-19S-17-0050-00910-006.0
    APU
    20E19S170050009100060

    Description

    This exceptional 2,520 square foot commercial office building presents a unique investment opportunity in the thriving city of Inverness, Florida. Strategically situated at a prominent four-way intersection within city limits, this stand-alone structure boasts high visibility and accessibility. Constructed of durable concrete block and stucco, the building is conveniently located just three blocks from the HCA Citrus Memorial Hospital complex, ensuring a steady stream of potential clientele. Previously utilized as a pharmacy, the building offers dual entrances from both Highland Boulevard and Apopka Avenue, maximizing exposure and convenience. Significant upgrades have been implemented, including a new roof installed in 2014 and a new air conditioning system in 2013, ensuring efficient and cost-effective operation. All existing cabinetry and office furniture are included in the sale, providing a turnkey solution for a new owner. The 0.37-acre lot offers ample space for parking and potential expansion. In addition to the sale price of $450,000, the property is also available for lease at $16 per square foot, triple net (NNN), with a minimum three-year lease term and renewable options, subject to tenant qualification. This versatile property is ideal for a variety of commercial uses and represents a compelling investment opportunity in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $470,000
      6.5%
      $435,000
      7%
      $405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $289,000
      Market price range: $209k - $334k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.3298
    Latitude
    28.8325
    CBSA code
    26140
    CBSA name
    HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,641
    $65,610
    $234,140
    $299,750
    -
    $65,610
    $234,140
    $299,750

    Comparable in this City

    • Value Estimation
      $315,000
      962 SF

      202 Highland Blvd

      OFFICE BUILDING • 962 SF
      202 Highland Blvd, Inverness, FL 34452
      View Details
    • Value Estimation
      $130,000
      1,500 SF

      4841 Pleasant Grv Rd

      OFFICE BUILDING • 1,500 SF
      4841 Pleasant Grv Rd, Inverness, FL 34452-7869
      View Details
    • Value Estimation
      $555,000
      2,067 SF

      301 Citrus Ave

      OFFICE BUILDING • 2,067 SF
      301 Citrus Ave, Inverness, FL 34452-4705
      View Details
    • Value Estimation
      $520,000
      2,060 SF

      906 Eden Dr

      OFFICE BUILDING • 2,060 SF
      906 Eden Dr, Inverness, FL 34452-5934
      View Details
    • Value Estimation
      $340,000
      5,059 SF

      609 Highland Blvd

      OFFICE BUILDING • 5,059 SF
      609 Highland Blvd, Inverness, FL 34452-4638
      View Details
    • Value Estimation
      $295,000
      3,480 SF

      1902 Main St

      OFFICE BUILDING • 3,480 SF
      1902 Main St, Inverness, FL 34452-4421
      View Details

    Similar Nearby for Sale

    • $365,000
      1,420 SF

      Inverness Office Building - Great Location

      Prime Commercial Office Space, 1420 sq ft, 0.22 acres
      3455 Suzie Ln, Inverness, FL 34452
      View Details
    • $450,000
      2,520 SF

      Inverness Office Building - For Sale

      High-profile location, 2,520 sq ft office.
      102 Highland Blvd, Inverness, FL 34452
      View Details
    • Contact for pricing

      Inverness Commercial Land: $25k

      0.23-acre lot, ideal commercial/residential use.
      2711 Hillery St, Inverness, FL 34452
      View Details
    • Contact for pricing
      0.22 Acres

      Residential Land in Inverness Highlands

      Residential land for sale in Inverness Highlands South, Florida.
      3385 S Dean Ter, Inverness, FL 34452
      View Details
    • $1,474,400
      36.86 Acres

      Inverness Pasture Land For Sale

      36.86 acres of improved pasture land near Withlacoochee State Forest.
      3261 E Stage Coach Trl, Inverness, FL 34452
      View Details
    • Contact for pricing
      0.22 Acres

      Residential Land in Inverness, FL

      Lightly wooded residential land near lakes and downtown Inverness.
      1032 Lowell Ter, Inverness, FL 34452
      View Details

    Similar Nearby for Lease

    • $500 /Mo
      1,512 SF

      Inverness FL All-Inclusive Office Space

      All-inclusive office space with shared amenities in Inverness, Florida.
      101 S Osceola Ave, Inverness, FL 34452
      View Details
    • $1,200 /Mo
      27,443 SF

      Move-in Ready Office Space

      Office space with utilities included in Inverness, Florida.
      957 S Lois Ter, Inverness, FL 34452
      View Details
    • $799 /Mo
      250 SF

      Move-in Ready Inverness Office Space

      Prime professional/medical office space with utilities included.
      957 S Lois Ter, Inverness, FL 34452
      View Details
    • Contact for pricing
      133,711 SF

      Highland Square Retail Space

      Inverness, FL: Prime Retail Opportunity
      211 Highland Blvd, Inverness, FL 34452
      View Details
    • Contact for pricing
      2,900 SF

      Restaurant Space in Inverness, Florida

      Second generation restaurant space available in Inverness, Florida.
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      View Details
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    Inverness, FL 34452
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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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