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    Property profile & analytics

    304 Citrus Ave Inverness, FL 34452-4706

    • Assisted living facilities
    • 33,578 SF
    • 1.27 lot acres
    OFF-MARKET
    Last Sale
    Sep 06, 2024
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5449838
    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

    • Avante'at Inverness / Nursing Home

    Property Details for 304 Citrus Ave

    Year built
    1968
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.27 lot acres
    Property size
    33,578 SF
    Zone code
    RO RESIDENT/OFFICE
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    20E-19S-17-0050-00670-010.0
    APU
    20E19S170050006700100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $605,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $462,000
      Market price range: $419k - $1.46M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $735,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.3356
    Latitude
    28.8317
    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
    $182,123
    $173,380
    $1,953,931
    $2,127,311
    -
    $173,380
    $1,953,931
    $2,127,311

    Comparable in this City

    • Value Estimation by Request
      23,416 SF

      700 Medical E Ct

      HOMES (RETIRED, NURSING) • 23,416 SF
      700 Medical E Ct, Inverness, FL 34452-4698
      View Details
    • Value Estimation
      $795,000
      42,660 SF

      701 Medical E Ct

      HOMES (RETIRED, NURSING) • 42,660 SF
      701 Medical E Ct, Inverness, FL 34452-4616
      View Details
    • Value Estimation
      $605,000
      6,888 SF

      5701 Pleasant Grv Rd

      HOMES (RETIRED, NURSING) • 6,888 SF
      5701 Pleasant Grv Rd, Inverness, FL 34452-8385
      View Details
    • Value Estimation
      $41,020,000
      282,622 SF

      502 Highland Blvd

      HOSPITAL - PRIVATE • 282,622 SF
      502 Highland Blvd, Inverness, FL 34452-4720
      View Details
    • Value Estimation by Request
      4,618 SF

      112 Highland Blvd

      MEDICAL BUILDING • 4,618 SF
      112 Highland Blvd, Inverness, FL 34452-4819
      View Details
    • Value Estimation
      $1,000,000
      7,066 SF

      810 Medical E Ct

      MEDICAL BUILDING • 7,066 SF
      810 Medical E Ct, Inverness, FL 34452-4612
      View Details

    Similar Nearby for Sale

    • 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
      0.23 Acres

      Residential Land in Inverness, FL

      Corner lot near shopping, restaurants, and medical facilities.
      3008 Collins St, Inverness, FL 34452
      View Details
    • $365,000
      1,420 SF

      Inverness Office Building - Great Location

      Prime Commercial Office Space, 1420 sq ft, 0.22 acres
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      View Details
    • $94,900
      2.93 Acres

      Inverness Land Opportunity Awaits

      Nearly 3 acres of wooded land in Florida's Nature Coast.
      8907 S Pleasant Grove Rd, Inverness, FL 34452
      View Details
    • New
      $169,900
      4.13 Acres

      Inverness Land For Sale

      Partially cleared 4+ acre land near Suncoast Parkway.
      3491 E Stage Coach Trl, Inverness, FL 34452
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    • $599,000
      0.97 Acres

      Commercial Land in High-Demand Area

      Strategic location experiencing unprecedented commercial expansion with high traffic count.
      3493 E Gulf-To-Lake Hwy, Inverness, FL 34452
      View Details

    Similar Nearby for Lease

    • $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
    • $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
    • Contact for pricing
      26,220 SF

      Restaurant Space in Inverness, Florida

      Second generation restaurant space available in Inverness, Florida.
      223-465 E Highland Blvd, 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
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    304 Citrus Ave
    Inverness, FL 34452-4706
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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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