Located just off the heavily traveled SR 44 and Forest Drive, this property offers easy accessibility to a diverse patient and customer base in Inverness, situated in Citrus County, Florida. The subject property spans a generous 1. 33 acres and is zoned RO-Residential Office, within the city limits of Inverness. Future connections to water and sewer services are anticipated by the end of 2025. This fully cleared property features 223 feet of road frontage on Forest Drive, which connects directly to SR 44, boasting an impressive daily traffic count of over 29, 560 AADT.
The property is strategically located near Historical Downtown Inverness, home to key landmarks such as Citrus Memorial Hospital, the County Courthouse, the Tax Collector’s Office, and City Hall. Within a two-mile radius, the area offers a robust national retail presence, including Walmart, Lowe’s, TJ Maxx, several major grocery stores, quick-service restaurants (QSRs), and sit-down dining options. The property is also situated within a 15-minute drive of a population of 36, 848 residents, with a median age of 64 and a median household income of $52, 000, growing at an annual rate of 2. 93%. Local consumer expenditures for healthcare exceed $57 million annually, with over $20 million allocated specifically to physician services.
The City of Inverness has made substantial investments in revitalization, including the development of newly constructed lakefront parks such as Liberty Park, Wallace Brooks Park, and the Depot District. With the recent $135 million expansion of the Suncoast Parkway and its future extensions, Citrus County is positioned for significant growth within the Tampa MSA. Within a 15-minute drive of the property, an ideal customer base of 46, 361 residents awaits, with an average age of 58 and a median household income of $65, 000. Consumer data indicates that 66% of residents dine out at restaurants or steakhouses, while 89% frequent fast-food establishments. The population’s median age also correlates with substantial expenditures on healthcare services, totaling over $106 million annually. The property provides access to thriving 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 experience exponential growth, with the population estimated to reach 350, 000 under the County’s Land Development Code by 2030. As part of Tampa–St. Petersburg–Clearwater MSA, the 18th largest metropolitan area in the United States, Citrus County stands out as one of the nation’s premier real estate markets.
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NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $180,000 | $180,000 | $180,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.300% | 6.778% | 6.034% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,167 | $1,153 | $1,495 |
Total Monthly Payment | $1,242 | $1,228 | $1,570 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.