70 Florida AveInverness, FL 34453

Property Details for 70 Florida Ave

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.11 AC

Property size (Sq ft)

5,760 SF

Zone code

GNC GEN COMMERCIAL

Property type

Retail properties

Property subtype

Auto shops

APN

20E-19S-06-33230

APU

20E19S0633230

Description

This exceptional 6,000 square foot commercial property in Inverness, Florida, presents a unique investment opportunity. Situated on a 3.13-acre lot, this versatile building boasts five bay doors, ample office space, and high visibility on North Florida Avenue, a road with an annual average daily traffic count of 14,100. The property's zoning allows for a variety of uses, including an auto shop, gas station, or warehouse, making it ideal for entrepreneurs and investors seeking a high-traffic location. The expansive lot offers significant potential for future development. The property's waterfront location adds to its appeal and provides additional opportunities. The building's substantial size and multiple bay doors provide flexibility for various business operations. The existing office space is ready for immediate use, offering a convenient workspace. Buyers are advised to independently verify zoning and usage with Citrus County authorities to ensure compliance with all regulations. The asking price for this exceptional property is $500,000. This is a rare opportunity to acquire a well-located, multi-use commercial property in a thriving Florida community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,620,344

  6.5%

  $1,495,702

  7%

  $1,388,866

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,650,911

  Geo Method

  $2,650,911

• Alternative Use

  Use

  Valuation

  Residential

  $1,261,681

  Hospitality

  $1,155,693

  Educational

  $961,523

  Medical

  $994,591

  Retail

  $1,495,702

Location Insight

City

Inverness

County

Citrus

State

Florida

Latitude

28.8597

Longitude

-82.3505

CBSA code

26140

CBSA name

HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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