5701 S Pleasant Grove Road

Inverness, FL

Others for Sale - $775,000 - 1 acres


Agent Info

Elias Kirallah
CENTURY 21 J W Morton Real Estate, Inc.

Property Info

CIMLS#1160289
Location
  5701 S Pleasant Grove Road
  Inverness FL 34452
UpdatedJune 19th, 2024
TypeOthers
Price$775,000
Land1 acres

Property Description

Opportunity awaits with this former Assisted Living Facility. This well-constructed concrete block building was built in 1982 with an effective age of 1985 and is a total of 6,888 SF. Situated on a 1.52-acre corner lot at the northeast corner of CR 581/S Pleasant Grove Road (8,800 AADT) and E Amy Lane, the property features over 200 feet of road frontage, 11 parking spaces, and is zoned High Density Residential. This zoning allows, with the approval of a PUD, up to 20 residential units per acre and various other uses including but not limited to Assisted Living Facilities, Nursing Homes, Medical/Dental Offices, and Professional Offices. Previously licensed as a 24-bed Assisted Living Facility with 11 lodging rooms, the building includes a kitchen area, a large dining room, an office, and a courtyard setting with a water feature. This site is easily accessible and conveniently located just 4.45 miles from the city limits of Inverness, home to the Citrus County Property Appraiser, Clerk of Courts, and much more. With the recent expansion of the Suncoast Parkway and future extensions, Citrus County is poised for significant growth within the Tampa MSA. Just a 15-minute drive from the property is an ideal customer base of 46,361 residents, with an average age of 58 and a median household income of $65,000. Strong market consumer expenditures reveal that 66% of residents dine out at restaurants/steakhouses and 89% frequent fast food restaurants. Moreover, given the median age of 58, the area population has spent over $106 million on healthcare services.


Financials


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