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Key Details
Sold Price $185,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 1,560 sqft
Price per Sqft $118
Subdivision Inverness Highlands South
MLS Listing ID OM671575
Sold Date 03/14/24
HOA Y/N No
Originating Board Stellar MLS
Year Built 1983
Annual Tax Amount $2,920
Lot Size 0.770 Acres
Acres 0.77
Lot Dimensions 126x270
Property Description
Located just outside the City Limits of Inverness, Florida, in Citrus County, this former drive-thru restaurant fronts US Highway 41 South (16,000 AADT) with 126 feet of frontage and offers street-to-street access to Southerly Avenue. Improvements include a 1,560 square foot CBS (concrete block and stucco) restaurant shell built in 1983, with 20 parking spaces, situated on 0.77 acres (126'x270') of prime GNC Commercial Zoned Property, allowing for a variety of commercial uses, including retail, office, restaurants, sit-down, and drive-thru, among others.
This outstanding location is just a 3-minute drive south of the Historical Courthouse Square and Downtown area, Citrus Memorial Hospital, Citrus County High School, and elementary schools, Citrus County Courthouse, City Hall, Property Appraiser/Tax Collector offices, and the newly built Depot District and Liberty Park. This location provides access to a daily population of 60,000 during peak seasons. Centrally located, this site can be reached in just 6.7 miles from Floral City, 7 miles from Hernando, 10 miles from Lecanto, 12.5 miles from Beverly Hills, and only 18.1 miles from Crystal River. US Highway 41 is a federal highway and a prime logistics route that connects the Upper Peninsula of Michigan to Miami, Florida, and establishes a direct link between Citrus County and the nearest neighboring county of Hernando, just 17 miles away.
Within a 15-minute drive from the subject property, you will find an ideal customer base of 46,361 residents, with an average age of 58 and a median household income of $65,000, growing at a rate of 2.83% annually. Strong market consumer expenditure data reveals that 66% of the residents dine out at restaurants or steakhouses, and an impressive 89% visit fast-food restaurants regularly. Additionally, considering the median age of 58, this demographic presents an attractive target for businesses in the food industry.
Situated in Citrus County, which is presently home to 153,600 residents, the area is projected to experience exponential growth, with an estimated 350,000 residents under Citrus County's Land Development Code by 2030. As part of the Tampa–St. Petersburg–Clearwater Metropolitan Statistical Area (MSA), ranked as the 18th largest in the U.S., Citrus County stands out as one of the nation's premier real estate markets.
Location
State FL
County Citrus
Community Inverness Highlands South
Zoning GNC
Interior
Heating None
Cooling Central Air, None
Flooring Ceramic Tile
Exterior
Garage Parking Spaces - 19 to 30
Roof Type Shingle
Building
Story 1
Foundation Block, Slab
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Structure Type Concrete,Stucco
New Construction false
Others
Ownership Corporation
Special Listing Condition None
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Bought with INSIGHT REALTY NETWORK