3238 Florida AveInverness, FL 34450

Property Details for 3238 Florida Ave

Year built

1960

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.50 AC

Property size (Sq ft)

2,204 SF

Zone code

GNC GEN COMMERCIAL

Property type

Retail properties

Property subtype

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.

• CAP approach

  CAP return

  Valuation

  6%

  $620,050

  6.5%

  $572,354

  7%

  $531,472

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,014,342

  Geo Method

  $1,014,342

• Alternative Use

  Use

  Valuation

  Residential

  $482,802

  Hospitality

  $442,244

  Educational

  $367,942

  Medical

  $380,596

  Retail

  $572,354

Location Insight

City

Inverness

County

Citrus

State

Florida

Latitude

28.8142

Longitude

-82.3151

CBSA code

26140

CBSA name

HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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