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3109 S Florida Ave Inverness, FL 34450

Auto shops Google Maps
1,920 SF 1.06 ac lot Built 1970
Individually Owned 6-yr Hold Free & Clear
Estimated value (blended)
$250k
Range $225k – $275k (±10%)
Property ID US18-1855684

Property summary

AI-generated overview

This exceptional 1.85-acre commercial property, located at 3109 S Florida Avenue in Inverness, Florida, presents a compelling investment opportunity. Boasting over 383 feet of frontage on S Florida Avenue/Hwy 41 S (11,200 AADT), this General Commercial zoned land offers a wide range of development possibilities. Permitted uses include retail, general commercial, professional/medical offices, gas stations/convenience stores, restaurants, and bars. Situated just outside Inverness city limits in unincorporated Citrus County, the property benefits from lower taxes while maintaining close proximity to the historic downtown area. The property's eastern border adjoins the Rails to Trails, a 46-mile paved trail system attracting numerous tourists and cyclists. Inverness has recently invested significantly in beautification projects, including new lakefront parks. The recent $135 million expansion of the Suncoast Parkway and future extensions position Citrus County for substantial growth within the Tampa MSA. A strong customer base exists just 15 minutes away, comprising 46,361 residents with a median age of 58 and a median household income of $65,000. Market data indicates high consumer spending on dining and healthcare, with 66% dining out at restaurants/steakhouses and 89% frequenting fast-food establishments. The area's population has spent over $106 million on healthcare services. The 1,920 square foot building offers significant potential for redevelopment or expansion. This property is priced at $650,000.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1970
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,920 SF
Lot 1.06 ac (46,130 SF)
Zoning code GNC GEN COMMERCIAL
APN 20E-19S-21-32420
UPID US18-1855684

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Auto Parts Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$250k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$250k

Owner & transaction history

since 2019
5 recorded transactions
2024
Price N/A
2023
Price N/A
2019
Price N/A
2019
$100
1969
Price N/A

Zoning & alternative use

GNC GEN COMMERCIAL · Inverness, FL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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