Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3190 Florida Ave Inverness, FL 34450

    • Auto shops
    • 2,750 SF
    • 0.72 lot acres
    For Sale
    View listing
    $830,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2471212
    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

    • Tony's Auto Clinic II Inc. / Auto Parts Store / Auto Repair Shop

    Property Details for 3190 Florida Ave

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.72 lot acres
    Property size
    2,750 SF
    Zone code
    GNC GEN COMMERCIAL
    Property type
    Auto shops
    APN
    20E-19S-21-0020-02000-023.0
    APU
    20E19S210020020000230

    Description

    This 2,862 sq ft retail property in Inverness, FL, sits on a 0.72-acre lot with 125 feet of highway frontage on US 41 S, a major thoroughfare boasting 17,300 daily vehicles. Its General Commercial zoning and street-to-street access provide exceptional visibility and accessibility. The property includes a fully equipped automotive repair shop, complete with lifts, air compressors, and tools, offering immediate income potential. This turnkey operation benefits from a strong existing customer base and is poised for growth due to the influx of new residents (projected 30,000 by 2030) and the development of the nearby Holder Industrial Park, which will bring 1,000 direct and up to 2,000 indirect jobs. Annual consumer spending on vehicle maintenance and repair in the area exceeds $14 million. Located within the Tampa-St. Petersburg-Clearwater MSA, the 18th largest metropolitan area in the U.S. and a currently hot real estate market, this property represents a strategic investment opportunity with significant long-term appreciation potential. Citrus County's 61,000 vacant residential parcels further solidify the area's growth trajectory. This established business, combined with the area's robust economic expansion, makes this a low-risk, high-reward investment. The property is priced at $830,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $229,000
      Market price range: $168k - $595k
      AI Estimate
      $232,000
      Market price range: $213k - $476k

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

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.3155
    Latitude
    28.8157
    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
    $2,827
    $60,720
    $97,850
    $158,570
    -
    $60,720
    $97,850
    $158,570

    Comparable in this City

    • Value Estimation
      $260,000
      3,000 SF

      4401 Florida Ave

      AUTO REPAIR, GARAGE • 3,000 SF
      4401 Florida Ave, Inverness, FL 34450-7248
      View Details
    • Value Estimation
      $255,000
      1,500 SF

      5461 Florida Ave

      AUTO REPAIR, GARAGE • 1,500 SF
      5461 Florida Ave, Inverness, FL 34450-7267
      View Details
    • Value Estimation
      $265,000
      960 SF

      4915 Florida Ave

      AUTO REPAIR, GARAGE • 960 SF
      4915 Florida Ave, Inverness, FL 34450-7257
      View Details
    • Value Estimation
      $270,000
      4,444 SF

      3251 Florida Ave

      AUTO REPAIR, GARAGE • 4,444 SF
      3251 Florida Ave, Inverness, FL 34450-6877
      View Details
    • Value Estimation
      $250,000
      1,920 SF

      3109 Florida Ave

      AUTO REPAIR, GARAGE • 1,920 SF
      3109 Florida Ave, Inverness, FL 34450-6875
      View Details
    • Value Estimation
      $255,000
      4,000 SF

      7992 Pemberton Path

      AUTO REPAIR, GARAGE • 4,000 SF
      7992 Pemberton Path, Inverness, FL 34450-3435
      View Details

    Similar Nearby for Sale

    • $650,000
      1,920 SF

      Inverness Commercial Land

      1.85-Acre Redevelopment Opportunity
      3109 Florida Ave, Inverness, FL 34450
      View Details
    • $649,500
      1.85 Acres

      Prime Commercial Land For Sale

      1.85-acre commercial land in booming Inverness, Florida.
      3109 S Florida Ave, Inverness, FL 34450
      View Details
    • New
      $350,000
      0.78 Acres

      Inverness Commercial Property on SR44

      Renovated commercial property with lake access on high-traffic corridor.
      8929 E Gulf To Lake Hwy, Inverness, FL 34450
      View Details
    • New
      $315,000
      0.34 Acres

      Income-Producing Commercial Asset For Sale

      Fully occupied commercial building on 0.34 acres with highway frontage.
      3275 S Florida Ave, Inverness, FL 34450
      View Details
    • $1,100,000
      0.58 Acres

      Prime Commercial Opportunity on US Hwy

      Highly visible corner lot with excellent frontage and strong exposure.
      525 S Us Highway 41, Inverness, FL 34450
      View Details
    • $1,200,000
      3,266 SF

      Established Restaurant in Inverness, FL

      Thriving restaurant on Highway 41, a community staple for 17 years.
      104 Us Highway 41 S, Inverness, FL 34450
      View Details

    Similar Nearby for Lease

    • New
      $13,500 /Mo
      134,600 SF

      Inverness Commercial Property for Rent

      3.09-acre commercial property with 32,608 SF mixed-use facility for rent.
      315 S Us Highway 41, Inverness, FL 34450
      View Details
    • $8,250 /Mo
      13,068 SF

      Remodeled Retail Space in Inverness

      3300 SF remodeled retail space in downtown Inverness for lease.
      805 W Main St, Inverness, FL 34450
      View Details
    • $675 /Mo
      249 SF

      Historic Downtown Inverness Office Suite

      Charming furnished office suite in historic downtown Inverness.
      111 W Main St, Inverness, FL 34450
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3190 Florida Ave
    Inverness, FL 34450
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.