Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3238 Florida Ave Inverness, FL 34450-6876
    Back to Search
    Property profile & analytics

    3238 Florida Ave, Inverness, FL 34450-6876

    View on Map
    • Retail space
    • 2,204 SF
    • 0.50 lot acres
    Off-Market
    Last Sale May 10, 2024
    Property ID
    US18-4464801
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • HNR Gunworks / Gun Shop / Safe & Vault Shop
    • Trikes By Design Moved to REAR BUILDING 7147 E England Blvd / Motorcycle Shop

    Property Details for 3238 Florida Ave

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.50 lot acres
    Zone code
    GNC GEN COMMERCIAL
    Property type
    Retail space
    APN
    20E-19S-21-0020-02000-001.0
    APU
    20E19S210020020000010

    Description

    This exceptional 6,100 square foot retail property in Inverness, Florida, presents a lucrative investment opportunity. Strategically located on a corner lot at the intersection of four-lane US Highway 41 and a residential street, this property offers unparalleled visibility and accessibility. The main retail building comprises approximately 2,500 square feet of climate-controlled leasable space, complemented by ample parking. Currently occupied by a long-term tenant, this section provides immediate and consistent rental income. Adding to the property's value is a separate storage building encompassing approximately 2,600 square feet, divided into five individually rented units, each generating additional monthly revenue. All storage units are currently leased, ensuring a steady stream of passive income. The 0.5-acre lot provides significant potential for future expansion or development, particularly given its proximity to the Inverness Airport expansion and the planned Business Park. This property is ideally suited for investors seeking a high-yield, low-maintenance investment with immediate cash flow, or for entrepreneurs looking to establish a business in a high-traffic area. Showings are by appointment only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.3151
    Latitude
    28.8142
    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
    $3,381
    $58,350
    $137,910
    $196,260
    -
    $58,350
    $137,910
    $196,260

    Comparable in this City

    • Value Estimation
      $1,295,000
      7,774 SF

      915 Main St

      RETAIL STORES (PERSONAL SERVICES)
      915 Main St, Inverness, FL 34450-4623
      View Details
    • Value Estimation by Request
      3,200 SF

      9940 Gulf To Lk Hwy

      RETAIL STORES (PERSONAL SERVICES)
      9940 Gulf To Lk Hwy, Inverness, FL 34450-5435
      View Details
    • Value Estimation
      $790,000
      6,160 SF

      101 Main St

      RETAIL STORES (PERSONAL SERVICES)
      101 Main St, Inverness, FL 34450-4852
      View Details
    • Value Estimation
      $500,000
      4,848 SF

      122 Pne Ave

      RETAIL STORES (PERSONAL SERVICES)
      122 Pne Ave, Inverness, FL 34450
      View Details
    • Value Estimation by Request
      1,352 SF

      416 Us Hwy 41

      RETAIL STORES (PERSONAL SERVICES)
      416 Us Hwy 41, Inverness, FL 34450-4937
      View Details
    • Value Estimation by Request
      2,638 SF

      431 Us-41

      Individual retail properties
      431 Us-41, Inverness, FL 34450
      View Details

    Similar Nearby for Sale

    • $315,000

      Commercial Building on US Highway

      Retail/service space in Citrus County, ready for immediate occupancy.
      3275 S Florida Ave, Inverness, FL 34450
      View Details
    • Contact for pricing
      12,900 SF

      Inverness Commercial Property on SR 44

      Commercial property with highway frontage in Historic Downtown Inverness, Florida.
      1601 W Main St, Inverness, FL 34450
      View Details
    • Contact for pricing
      3,476 SF

      New 7-Eleven NNN Lease

      New construction 7-Eleven with corporate lease in Inverness, Florida.
      1007 Highway 41 N, Inverness, FL 34450
      View Details
    • Contact for pricing

      Inverness Retail and Service Center

      Retail and service center with diverse, long-term tenants.
      1213-1221 Sterling Rd, Inverness, FL 34450
      View Details
    • $999,000
      2,392 SF

      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

    Similar Nearby for Lease

    • $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
    • $48,000

      Retail Space in Historic Inverness

      Commercial property in a vibrant, high-traffic area, ideal for entrepreneurs.
      401 Tompkins St, Inverness, FL 34450
      View Details
    • $1,600 /Mo
      654 SF

      Historic Inverness Business Suite

      Charming 654 sq ft suite in historic downtown Inverness.
      111 W Main St, Inverness, FL 34450
      View Details
    • $4,000 /Mo
      1,600 SF

      Commercial Property in Historic Inverness

      Commercial property in a vibrant, historic district with high visibility.
      401 Tompkins St, Inverness, FL 34450
      View Details
    • $9,856 /Mo
      3,570 SF

      Inverness Commercial Property Available Now

      17,920 SF flex space with office and warehouse areas.
      956 S Us Highway 41, 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.
    3238 Florida Ave
    Inverness, FL 34450-6876
    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

    Thank You for Inquiry
    3238 Florida Ave, Inverness, FL, 34450
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!