8929 Gulf To Lake HwyInverness, FL 34450

Property Details for 8929 Gulf To Lake Hwy

Year built

1977

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.39 AC

Property size (Sq ft)

2,865 SF

Zone code

CLC COASTAL LAKES COMMERC

Property type

Office buildings

APN

20E-19S-11-0020-00040-003.0

APU

20E19S110020000400030

Description

This exceptional 4,000 sq ft commercial property in Inverness, Florida, presents a unique investment opportunity. Recently renovated in 2024, the building boasts multiple versatile spaces. Space #1 is a 1,250 sq ft garage with three 10x12' roll-up doors, ideal for automotive or marine repair. Space #2 offers 1,000 sq ft of finished office and residential space, including a bathroom and plumbing/electric for a kitchen on the ground floor, and an additional bathroom and room/office upstairs. Space #3 comprises a 1,750 sq ft warehouse with a ground-level dock door and ramp, high ceilings, and a full paint booth. The property features 3-phase electric power, direct waterfront access to the Inverness chain of lakes with a private boat ramp, and nearly 300 feet of frontage on Highway 44. Situated in a high-visibility, high-traffic area, less than a quarter-mile from the new Preservation Point luxury RV resort, this property is zoned CLC and offers a multitude of potential uses, including automotive and marine repair, professional offices, warehousing, retail, restaurants, bars, or watercraft rentals. The 0.78-acre lot includes a two-story building constructed in 1977. The asking price is $499,000, translating to $124.75 per square foot. This owner/user opportunity is ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $548,315

  6.5%

  $506,137

  7%

  $469,984

• Comparable approach

  Method

  Valuation

  Relative Method

  $523,235

  Geo Method

  $523,235

• Alternative Use

  Use

  Valuation

  Residential

  $627,610

  Hospitality

  $574,887

  Educational

  $478,299

  Medical

  $494,749

  Retail

  $744,021

Location Insight

City

Inverness

County

Citrus

State

Florida

Latitude

28.8438

Longitude

-82.2849

CBSA code

26140

CBSA name

HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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