62 Highway 40Inglis, FL 34449

  • Office properties
  • 3,696 SF
For Sale
$775,000 View listing

Property Details for 62 Highway 40

Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.33 AC
Property size (Sq ft)
3,696 SF
Property type
Office properties
Property subtype
Office buildings
APN
836700000
APU
836700000

Description

This exceptional commercial property in Inglis, Florida, presents a unique investment opportunity. Located at 62 Highway 40 W, this nearly city-block-sized complex boasts 8,788 square feet across three buildings, situated on a 0.33-acre lot with 180 feet of Highway 40 frontage. The property is zoned commercial within the Municipal Service District and falls within the Spring Protection Area, allowing for diverse uses including urban services and commercial activities, with potential for future residential density increases. Building A (3,696 sq ft, built 2002) features three offices, a reception area, a boardroom, and covered parking. Building B (3,168 sq ft, built 1970, refurbished 2000) offers eight offices, a conference room, and an employee lounge. Building C (1,624 sq ft, built 1980, updated 1999) includes five offices and ample open space. The complex provides 33 parking spaces. Significant upgrades include new HVAC systems, a 22-square roof, a video monitoring system, and a lead-lined room. Its strategic location near the intersection of Highway 40 and US 19, within the Tri-County Servicing Area, and close to airports (including Ocala's commercial airport), ensures excellent accessibility. The anticipated 2026 completion of the $135 million Suncoast Parkway extension promises significant future growth and development potential in this thriving area. This meticulously maintained property is ideal for multiple tenants, offering a blend of quality, functionality, and prime location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $766,533
    6.5%
    $707,569
    7%
    $657,028
  • Comparable approach

    Method
    Valuation
    Relative Method
    $407,595
    Geo Method
    $407,595
  • Alternative Use

    Use
    Valuation
    Residential
    $877,386
    Hospitality
    $803,681
    Educational
    $668,653
    Medical
    $691,649
    Retail
    $1,040,127
62 Highway 40, Inglis, Florida

Location Insight

City
Inglis
County
Levy
State
Florida
Latitude
29.0305
Longitude
-82.6718
CBSA code
23540
CBSA name
GAINESVILLE, FL METROPOLITAN 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
$12,699
-
-
$598,523
-
$78,256
$520,267
$598,523

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