299 E GULF TO LAKE HWY Lecanto FL 34461-9391

PRIME COMMERCIAL OPPORTUNITY

299 E Gulf To Lake Hwy

Lecanto, Florida 34461

VIDEO TOUR LINK:

https://shorturl.at/krsCL

(Disclaimer - All in person showings require proof of ability to purchase.)

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This newly remodeled 7560 sq/ft General Commercial building, nestled between Inverness & Crystal River, Florida, features an open floor plan suitable for a range of uses. The free-standing structure includes a 3,300 Sq.Ft. (55' x 60') Ballroom/Open Space, a Kitchen Facility with walk-in refrigeration and Hood/Fire Suppression System, a Cocktail Lounge, and a 1,200 Sq.Ft. (60'x20') Meeting Hall, among other amenities. Equipped with 3-phase electric, a security system, and several upgrades including HVAC system replacement and interior lighting.

Situated on a spacious 2.73-acre general commercial parcel with 297’ of Highway frontage on SR 44/Gulf To Lake Hwy (28,500 AADT), it offers two points of Ingress and Egress and 70 designated parking stalls. The building holds significant potential for various general commercial uses such as Automotive/RV, Machinery and Equipment, and Powersports Dealerships. Additionally, it can be easily converted into a showroom and sales floor. Other potential uses include an emergency care center and general medical office, given the proximity to the nearest ER and the substantial patient/customer population within a 5-mile radius, including the communities of Citrus Hills and neighboring areas.

With the recent expansion of the Suncoast Parkway and future extensions, Citrus County is poised for historical growth in the Tampa MSA. Just a 15-minute drive from the property, an ideal customer base of 46,361 residents with an average age of 58 and a median household income of $65,000 awaits. Strong market consumer expenditures reveal that 66% of residents dine out at Restaurant/Steakhouses and 89% frequent Fast Food Restaurants. Moreover, given the median age of 58, the area population has spent over $106 million on Health Care Services.

The property offers access to flourishing populations in Floral City (7.8 Miles), Lecanto (8.8 Miles), Beverly Hills (11.5 Miles), Crystal River (16.6 Miles), and Homosassa (18.8 Miles). As part of Citrus County, currently home to 153,600 residents, the area is projected to experience exponential growth, reaching an estimated 350,000 residents under Citrus County’s Land Development Code by 2030. Positioned within the Tampa–St. Petersburg–Clearwater MSA, ranked as the 18th largest in the U.S., Citrus County emerges as one of the nation's premier real estate markets.

Proximity to Key Facilities: Minutes away from Courthouse Square, home to Citrus County Courthouse, Tax Collectors, and Citrus Memorial Hospital in the newly developed Depot District of Inverness, Florida.

Central Accessibility: Easily accessible to neighboring cities, including Floral City, Lecanto, Beverly Hills, Crystal River, and Homosassa, making it a central hub for business activities.

Population Growth Projection: Positioned in Citrus County, currently home to 153,600 residents, with a projected exponential growth to an estimated 350,000 residents by 2030 under Citrus County’s Land Development Code.

Premier Real Estate Market: As part of the Tampa–St. Petersburg–Clearwater Metropolitan Statistical Area, ranked as the 18th largest in the U.S., Citrus County stands out as one of the nation's premier real estate markets, offering immense potential for businesses and investors.

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 the 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 Road 44, 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 types 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 was constructed from the Hernando County line to Fort Island Trail and US 19 in Crystal River, Florida.

Suncoast Parkway:

The Suncoast Parkway recently opened was a $135 Million Dollar expansion that extends 13 miles north from US-98 to SR 44 which features 15 new bridges, electronic tolling gantries, and the extension of The Suncoast Trail part of the Florida's Statewide Greenways and Trail System. The Suncoast Parkway is just 68 Miles 1 hour and 15 mins from Tampa making it a great commuting Highway for the workforce seeking to be outside of the Tampa traffic. The Veterans Expressway and Suncoast Parkway is a north–south toll road near the Florida Gulf Coast. Maintained and operated by Florida's Turnpike Enterprise, this 68-mile transportation corridor extends from State Road 60 in Tampa, north to State Road 44 near Lecanto.

Citrus County Growth:

Citrus County, Florida's estimated population is 155,582 with a growth rate of 1.29% in the past year according to the most recent United States census data. Citrus County, Florida is the 34th largest county in Florida. The 2010 Population was 141,173 and has seen a growth of 10.21% since this time. Citrus County's current LDC allows for approximately a population of 350k residencies. Given the expansion of the Suncoast Parkway and the 6-lane expansion of US 19, we are in the path of tremendous growth. Currently, Citrus County has 60,000 vacant parcels of land prime for development. The County and incorporated Cities have plans for extensive utility expansion throughout the county including the expansion of the Crystal River Airport Runway 5000 feet to allow for larger aircraft to land and take off including a newly funded 75 acres industrial complex granted by the state to expand utilities, road reconstruction to support eighteen wheelers and to include environmentally friendly and energy conservation features.

Community Development:

• 957 single-family residential homes on a 354-acre site in Lecanto.

• 500-lot subdivision, located in Citrus Springs by Habitat for Humanity of Citrus County.

• Green Mills Group 2020 built a 106-unit apartment campus offering affordable housing on Colonnade Street in Inverness.

• County commissioners approved a planned unit development (PUD) for Preservation Point RV Resort, a 234-acre property.

• Jaymelday Holdings LLC calls for up to 600 RV sites, along with amenities such as a pool, golf cart rentals, bar and grill, basketball court, and walking trails in Crystal River.

• 207 Home subdivision by DR Horton in Beverly Hills, Florida Citrus Ridge Area.

• 930 Unit Subdivision in Planning with a national builder in Lecanto just off the Suncoast Parkway extension on SR 44.

Disclaimer: All information provided herein is for marketing purposes only and is not guaranteed for accuracy. Prospective buyers or tenants are encouraged to conduct their own independent due diligence. The seller, broker, and associated parties make no representations or warranties, expressed or implied, as to the accuracy or completeness of this information. All dimensions, zoning details, financial data, and other property-related facts should be independently verified. Please consult with appropriate licensed professionals before making any investment or purchasing decisions.