#833985, Listing office: Tropic Shores Realty
Property details
About 116 Dr Martin Luther King Jr Ave
This prime commercial vacant parcel is located in Downtown Inverness adjacent to the Citrus County Sheriff's Office and across the street from the Citrus County Courthouse and is zoned CBD, which allows multi-story development up to a maximum height of 70 feet and six stories. Highest and best uses are multi-family residential, retail, and professional office space. This property is extremely site-prep friendly due to it being mostly cleared and flat and already has an existing curbcut. In addition to being in an X flood zone, the CBD zone allows for an impressive 80% impervious surface ratio. Prospective developers should note that multi-story development would include complimentary views of Henderson Lake, Liberty Park, and the historic Citrus County Courthouse ideal for rooftop venue and/or penthouse concepts. Call today to schedule a tour of the property!
Highlights
Home typeOther
StatusActive
Lot size0.37 Acres
MLS #OM695872
ViewCity
Virtual tour
Summary
- View: City
- List Price: $299,900
- HOA Amount: $0
- Annual Tax Amount: $2,185
- Tax Year: 2023
- Lot: Business District, City Lot, Level, Sidewalk, Paved
- Directions: From Northbound US HWy 41, turn onto Dr. Martin Luther King Jr. Ave. Property is on the right adjacent to the Citrus County Sheriff's Office parking lot.
- Lot Size: 0.37 Acres
- MLS Number: OM695872
- MLS Name: MFRMLS
- Office Name: KELLER WILLIAMS REALTY-ELITE P
- Office Phone: (352) 419-0200
- Listing Agent: Louis Newman
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Last updated on: 7/20/2025, 11:49:27 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Aug 10, 2005 | Home Sold | $150,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $98,620 | $2,185 |
| 2022 | $98,620 | $2,130 |
| 2021 | $98,620 | $2,130 |
| 2020 | $98,620 | $2,151 |
| 2019 | $98,620 | $2,239 |
| 2018 | $98,620 | $2,254 |
| 2017 | $98,620 | $2,254 |
History based on county public records data.
Nearby schools
4
Inverness Primary School
Public District PK-5
0.6 mi
•206 S Line Ave
5
Pleasant Grove Elementary School
Public District PK-5
1.7 mi
•630 Pleasant Grove Rd
5
Hernando Elementary School
Public District PK-5
5.3 mi
•2975 E Trailblazer Ln
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $34,811. Typical income of Inverness, FL residents is less than $<35k annually. The majority of families are single, no kids. The most common level of education of people living in this area is high school diploma.
How much money do the neighbors make?
50%
<35k
42%
35k-100k
5%
100k-200k
3%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
64%
Single, No Kids
6%
Single, with Kids
24%
Married, No Kids
6%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
8%
<11 yrs old
5%
12-17 yrs old
13%
18-34 yrs old
38%
35-64 yrs old
36%
65+ yrs old
What do the neighbors do for fun?
Figure Skating
PGA/LPGA
Pro Wrestling
Where do the neighbors shop?
Stein Mart
Kmart
Wal-Mart
Where do the neighbors go to eat?
Bob Evans
Sonic
Cracker Barrel
What do the neighbors drive?
Buick
Lincoln
Oldsmobile
What do the neighbors listen to?
Adult Standards
Oldies
News/Talk/Information
All data provided by Home Junction and Claritas
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Frequently asked questions
About 116 Dr Martin Luther King Jr Ave
The listing price of 116 Dr Martin Luther King Jr Ave property is $299,900.
The property 116 Dr Martin Luther King Jr Ave is land located in Inverness, Florida, 34450.
Active Listing: 116 Dr Martin Luther King Jr Ave is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 116 Dr Martin Luther King Jr Ave are: Inverness Primary School (GreatSchools Rating 4/10), Pleasant Grove Elementary School (GreatSchools Rating 5/10), Hernando Elementary School (GreatSchools Rating 5/10), Inverness Middle School (GreatSchools Rating 4/10), Lecanto Middle School (GreatSchools Rating 5/10), Citrus Springs Middle School (GreatSchools Rating 6/10), Citrus High School (GreatSchools Rating 5/10), Cypress Creek Treatment Center (GreatSchools Rating 1/10), Srmi @ Renaissance Center (GreatSchools Rating 1/10).
According to the records, the last property tax for 2023 is $2,185 (source: MLS/based on county public records data).
The last sale was on August 10, 2005 for $150,000 (source: MLS/tax record).
The property 116 Dr Martin Luther King Jr Ave is 0.37 acres.
This home is located at 116 Dr Martin Luther King Jr Ave in Inverness, FL and zip code 34450. Features: 0 bathroom. It has been listed on Rocket Homes since February 25, 2025 and is currently priced at $299,900.
Inverness, FL housing market in June 2025 saw over 10 listings sold above listed price, more than 16 sold at listed price and over 61 sold below. The number of homes for sale in Inverness, FL increased by 3.6% between May and June 2025. Listings spent 73 days on the market in June 2025, and had a median list price of $250,000 during the same period.
From Rocket Homes Real Estate and based on county public records data.