3190 Florida AveInverness, FL 34450

Property Details for 3190 Florida Ave

Year built

1982

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.72 AC

Property size (Sq ft)

2,750 SF

Zone code

GNC GEN COMMERCIAL

Property type

Retail properties

Property subtype

Auto shops

APN

20E-19S-21-0020-02000-023.0

APU

20E19S210020020000230

Description

This 2,862 sq ft retail property in Inverness, FL, sits on a 0.72-acre lot with 125 feet of highway frontage on US 41 S, a major thoroughfare boasting 17,300 daily vehicles. Its General Commercial zoning and street-to-street access provide exceptional visibility and accessibility. The property includes a fully equipped automotive repair shop, complete with lifts, air compressors, and tools, offering immediate income potential. This turnkey operation benefits from a strong existing customer base and is poised for growth due to the influx of new residents (projected 30,000 by 2030) and the development of the nearby Holder Industrial Park, which will bring 1,000 direct and up to 2,000 indirect jobs. Annual consumer spending on vehicle maintenance and repair in the area exceeds $14 million. Located within the Tampa-St. Petersburg-Clearwater MSA, the 18th largest metropolitan area in the U.S. and a currently hot real estate market, this property represents a strategic investment opportunity with significant long-term appreciation potential. Citrus County's 61,000 vacant residential parcels further solidify the area's growth trajectory. This established business, combined with the area's robust economic expansion, makes this a low-risk, high-reward investment. The property is priced at $830,000.

• CAP approach

  CAP return

  Valuation

  6%

  $773,655

  6.5%

  $714,143

  7%

  $663,133

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,265,626

  Geo Method

  $1,265,626

• Alternative Use

  Use

  Valuation

  Residential

  $602,406

  Hospitality

  $551,801

  Educational

  $459,092

  Medical

  $474,881

  Retail

  $714,143

Location Insight

City

Inverness

County

Citrus

State

Florida

Latitude

28.8157

Longitude

-82.3155

CBSA code

26140

CBSA name

HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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