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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    950 Southerly Ave Inverness, FL 34452

    • Strip malls
    • 8,400 SF
    • 1.09 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2023
    $850,000
    Value Estimations
    $1,035,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2926033
    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

    • Strip malls

    Property Details for 950 Southerly Ave

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.09 lot acres
    Property size
    8,400 SF
    Zone code
    GNC GEN COMMERCIAL
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    20E-19S-21-0020-02010-056.0
    APU
    20E19S210020020100560

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,150,000
      ML approach
      $1,165,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $692,000
      Market price range: $438k - $1.15M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $805,000
      Current use
      MEDICAL BUILDING
      $1,775,000
      Change: +121% Conversion: Difficult
      OFFICE BUILDING
      $1,415,000
      Change: +76% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,405,000
      Change: +75% Conversion: Easy
      RETAIL STORES
      $1,165,000
      Change: +45% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,045,000
      Change: +30% Conversion: Difficult
      WAREHOUSE, STORAGE
      $765,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Inverness
    County
    Citrus
    State
    Florida
    Longitude
    -82.3172
    Latitude
    28.8194
    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
    $8,709
    $106,500
    $405,120
    $511,620
    -
    $106,500
    $405,120
    $511,620

    Comparable in this City

    • Value Estimation
      $410,000
      132,599 SF

      333 Highland Blvd

      SHOPPING CENTER, STRIP CENTER • 132,599 SF
      333 Highland Blvd, Inverness, FL 34452-4902
      View Details
    • Value Estimation
      $350,000
      7,600 SF

      219 Highland Blvd

      SHOPPING CENTER, STRIP CENTER • 7,600 SF
      219 Highland Blvd, Inverness, FL 34452-4948
      View Details
    • Value Estimation
      $255,000
      1,008 SF

      218 Apopka Ave

      PARKING LOT • 1,008 SF
      218 Apopka Ave, Inverness, FL 34452-4803
      View Details
    • Value Estimation
      $350,000
      4,474 SF

      4140 Pleasant Grv Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,474 SF
      4140 Pleasant Grv Rd, Inverness, FL 34452-7595
      View Details
    • Value Estimation
      $215,000
      1,060 SF

      1157 Prospect Ter

      AUTO REPAIR, GARAGE • 1,060 SF
      1157 Prospect Ter, Inverness, FL 34452
      View Details
    • Value Estimation
      $285,000
      4,560 SF

      4920 Arbor St

      BAR, TAVERN • 4,560 SF
      4920 Arbor St, Inverness, FL 34452-7570
      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
    • $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
    • 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
    • $384,900
      8.75 Acres

      Inverness Land with Development Potential

      Land with development potential in Inverness, Florida.
      3800 E Crystal Ln, Inverness, FL 34452
      View Details

    Similar Nearby for Lease

    • 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.
      223-465 E Highland Blvd, 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
    • $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
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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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