2018 Florida AveHernando, FL 34442

Property Details for 2018 Florida Ave

Year built

1970

Construction

STEEL FRAME

Lot size

0.25 AC

Property size (Sq ft)

2,960 SF

Zone code

GNC GEN COMMERCIAL

Property type

Retail space

APN

19E-18S-26-2A000-001.0

APU

19E18S262A0000010

Description

This exceptional commercial property presents a unique investment opportunity in Hernando, Florida. Located on Highway 41, the property boasts 200 feet of frontage, ensuring high visibility and accessibility for any business. The main building, totaling 2,960 square feet, currently houses two thriving businesses: a retail antique store and a sign fabrication/car restoration shop. This versatile structure features six offices/rooms, complete with built-in desks and cabinets, a kitchen area, two bathrooms, and two distinct sales areas. A substantial warehouse/garage area, equipped with three bay doors and an additional office, adds significant functionality. Included in this sale is an adjacent 0.5-acre lot, zoned GNC, offering considerable potential for expansion, additional parking, storage, or the development of another business. The combined properties represent a rare chance to acquire a substantial commercial presence in a high-traffic location for a single purchase price of $445,000. The existing tenants provide immediate income potential, while the versatile layout and additional land offer significant long-term growth opportunities. This is an ideal investment for a savvy business owner or investor seeking a strong return on investment in a prime Hernando location.

• CAP approach

  CAP return

  Valuation

  6%

  $817,672

  6.5%

  $754,774

  7%

  $700,862

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,362,274

  Geo Method

  $1,362,274

• Alternative Use

  Use

  Valuation

  Residential

  $636,680

  Hospitality

  $583,196

  Educational

  $485,212

  Medical

  $501,899

  Retail

  $754,774

Location Insight

City

Hernando

County

Citrus

State

Florida

Latitude

28.892

Longitude

-82.3695

CBSA code

26140

CBSA name

HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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