New Owners must connect to the sewer within one year. Located on the heavily traveled SR 44 corridor (29,560 AADT), connecting Citrus County to the city limits of Inverness, Florida, this property offers a prime commercial location. Situated at the corner of Central Avenue and SR 44, the site encompasses 0.86 acres with 120 feet of highway frontage. Included in this offering is a beautifully remodeled 3,648 SF mixed-use general commercial building, featuring 22 parking spaces and a prominent elevated monument sign for maximum visibility. The property is strategically positioned to benefit from the newly extended Suncoast Parkway, with additional extensions planned. Citrus County is on the cusp of historic growth, driven by its inclusion in the rapidly expanding Tampa MSA. This vibrant commercial hub in Downtown Inverness draws consumers from established national and regional retailers, including Winn-Dixie, future Aldi's, Publix, McDonald's, and Burger King. Additionally, the property is in close proximity to key government offices such as the City Hall of Inverness, Citrus County Tax Collector, Property Appraiser, DMV, and the Citrus County Courthouse. Recent investments by the City of Inverness have further enhanced the area's appeal, including newly developed lakefront parks like Liberty Park, Wallace Brooks Park, and the Depot District. Within a 15-minute drive, the property taps into a robust customer base of 46,361 residents with a median household income of $65,000 and an average age of 58. The site provides convenient access to growing nearby communities, including Floral City (5 miles), Lecanto (12.3 miles), Beverly Hills (15.1 miles), Crystal River (16.6 miles), and Homosassa (18.8 miles). Citrus County, currently home to 153,600 residents, is projected to nearly double its population to 350,000 by 2030 under its Land Development Code. As part of the Tampa–St. Petersburg–Clearwater MSA, the 18th largest in the U.S., Citrus County stands out as one of the nation’s premier real estate markets. With the $135 million Suncoast Parkway expansion and an aging, affluent demographic, the area is poised for continued economic growth. Local consumer spending trends indicate strong market potential, with 66% of residents dining out at restaurants and 89% frequenting fast-food establishments, while healthcare expenditures exceed $106 million annually. This property offers an exceptional opportunity to capitalize on a flourishing market in a high-visibility, high-demand location. Key Highlights: -Location: Prime intersection of SR 44 and Central Avenue, with heavy traffic exposure. -Building: Fully remodeled 3,648 SF mixed-use commercial space, 22 parking spaces, and a high-visibility monument sign. -Demographics: Affluent population with strong consumer spending habits and a growing customer base. -Market Dynamics: Access to thriving nearby communities and a rapidly expanding regional economy. -Growth Projections: Positioned to benefit from exponential population growth and economic development driven by infrastructure investments. -Opportunities: This property offers immense potential for businesses in retail, healthcare, dining, or professional services, leveraging its strategic location and strong consumer base. The combination of a growing population, robust economic indicators, and high visibility creates an ideal investment opportunity for long-term profitability and growth. Market Outlook: -Retail Cap Rate: 5.8 Median Asking Cap Rate 2023 6.6 Median Sold Cap Rate 4.4 Median Q1 Sold Cap Rate -Price/SF: $130-$520/Sq.Ft. Range $188 Sq.Ft. Median Price Retail Outlook: A comprehensive assessment of the Tampa-St. Petersburg retail market indicates that the dominant concentrations of competitive retail space are located in the East Hillsborough County submarket, amounting to 9.1 million square feet and 22.2% of the metropolitan inventory, followed by Clearwater/North Pinellas, with a 22.1% share, and Northwest Hillsborough/Tampa/Westshore (21.8%). Since the beginning of Q2 2014, the fastest growing area has been the Pasco submarket, adding 454,00 square feet over that period, or 40.3% of total metropolitan retail completions. Rent: The average Asking Rent was $16.40 in the Tampa-St. Petersburg metro. Rent in the Tampa-St. Petersburg metro was up 0.5% from year-end 2023. Rent is expected to finish 2024 at $16.56 in Tampa-St. Petersburg metro. Vacancy: The average Vacancy Rate was 9.0% in the Tampa-St.Petersburg metro. No vacancy change since year-end 2023 in the TampaSt. Petersburg metro. The Tampa-St. Petersburg metro had the lowest vacancy level since Q3 2008. Vacancy is expected to finish 2024 at 9.3% in the Tampa-St. Petersburg metro. Growth Potential: The property is well-positioned to tap into flourishing nearby populations in Floral City (5 miles), Lecanto (12.3 miles), Beverly Hills (15.1 miles), Crystal River (16.6 miles), and Homosassa (18.8 miles). Citrus County, currently home to 153,600 residents, is projected to grow exponentially, potentially reaching 350,000 residents by 2030 under Citrus County’s Land Development Code. Being part of the Tampa–St. Petersburg–Clearwater MSA, the 18th largest in the U.S., further cements Citrus County as a prime real estate market. Logistic Details: County Road 486 runs entirely along West Norvell Bryant Highway. It runs West to East from SR 44 east of Crystal River into US-41 in Hernando, just south of the southern terminus of SR 200. The route was once former SR 486. County Road 486 spans 4 lanes, is almost entirely a divided highway, and is flanked by a parallel bicycle path on the south side. County Road 491 is Lecanto Highway, a bi-county South to North road that begins at the Hernando-Citrus County Line in Oak Grove near the Withlacoochee State Forest, and ends at SR 200 in Stoke's Ferry, just south of the intersection with the northern segment of CR 39. It was formerly designated as SR 491. County Road 44 (often marked as County Road 44W) exists as the western tip of old Florida State Road44, south of "Downtown" Crystal River. The suffix "W" was most likely added to not confuse this section with State Road 44, to the north, and to show its location by being west of US 19 and US 98(SR 55). As with the majority of these type of 'coastal spur' routes, in West Central Florida, it is county maintained. U. S. Route 19 (US-19) runs 264 miles (425 km) along Florida's West Coast from an interchange with U. S. Route 41 in Memphis, Florida, south of Tampa, and continues to the Georgia border north of Monticello,Florida. Newly 6 lane Highway constructed from Hernando County line to Fort Island Trail and US 19 in CrystalRiver, Florida.