102 Highland BlvdInverness, FL 34452

Property Details for 102 Highland Blvd

Year built

1994

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.37 AC

Property size (Sq ft)

2,520 SF

Zone code

C COMMERCIAL

Property type

Office buildings

APN

20E-19S-17-0050-00910-006.0

APU

20E19S170050009100060

Description

This exceptional 2,520 square foot commercial office building presents a unique investment opportunity in the thriving city of Inverness, Florida. Strategically situated at a prominent four-way intersection within city limits, this stand-alone structure boasts high visibility and accessibility. Constructed of durable concrete block and stucco, the building is conveniently located just three blocks from the HCA Citrus Memorial Hospital complex, ensuring a steady stream of potential clientele. Previously utilized as a pharmacy, the building offers dual entrances from both Highland Boulevard and Apopka Avenue, maximizing exposure and convenience. Significant upgrades have been implemented, including a new roof installed in 2014 and a new air conditioning system in 2013, ensuring efficient and cost-effective operation. All existing cabinetry and office furniture are included in the sale, providing a turnkey solution for a new owner. The 0.37-acre lot offers ample space for parking and potential expansion. In addition to the sale price of $450,000, the property is also available for lease at $16 per square foot, triple net (NNN), with a minimum three-year lease term and renewable options, subject to tenant qualification. This versatile property is ideal for a variety of commercial uses and represents a compelling investment opportunity in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $482,265

  6.5%

  $445,167

  7%

  $413,370

• Comparable approach

  Method

  Valuation

  Relative Method

  $460,228

  Geo Method

  $460,228

• Alternative Use

  Use

  Valuation

  Residential

  $552,008

  Hospitality

  $505,636

  Educational

  $420,683

  Medical

  $435,151

  Retail

  $654,396

Location Insight

City

Inverness

County

Citrus

State

Florida

Latitude

28.8325

Longitude

-82.3298

CBSA code

26140

CBSA name

HOMOSASSA SPRINGS, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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