Lighted Hard-Corner Multi-Suite Retail
For Sale
$675,000
Pending
101 Huey Street, Wildwood, FL 34785
COMMERCIAL - Wildwood, FL
Property Size4,396 SF
Lot Size0.35 Acres
Days on Market1166
Property Features for 101 Huey Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Out of County
Parking features
Parking Lot
Subdivision
Not on List
Lot features
Corner Lot
Directions
Headed North from Cleveland Ave the property will be on the right located at the corner of HWY 301 and Huey Street. Look for Sign
Standard status
Pending
APN
G06-080
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2021
Tax Description
BEG 290 FT W OF SE COR OF SW1/4 OF SE1/4RUN N 19 DEG 04 MIN W 36 FT FOR POB RUN N 19 D EG 04 MIN W 126.38 FT S 80 DEGW 85.4 FT S 6 DEG 21 MIN E 30 FT S 13 DEG 51 MIN E 76 FT E
Tax Annual Amount
3415
Legal Description
BEG 290 FT W OF SE COR OF SW1/4 OF SE1/4RUN N 19 DEG 04 MIN W 36 FT FOR POB RUN N 19 D EG 04 MIN W 126.38 FT S 80 DEGW 85.4 FT S 6 DEG 21 MIN E 30 FT S 13 DEG 51 MIN E 76 FT E
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Flooring type
Concrete
Building materials
Stucco
Roof type
Shingle, Metal
Listing Agency:
Flamingo Real Estate & Mngmt
(352) 689-1000
Listed By:
Robert "Robbie" Shoemaker · License #3112582
(352) 303-6798
Added: Jun 15, 2023
Changed: Aug 19
Last Checked: Aug 23 at 3:06PM
MLS# 824153
Copyright © 2026 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Retail space with office flexibility, set up as a multi-building, multi-suite complex totaling 4,396 SF across three buildings. The property is divided into nine suites, with Building One at 1,540 SF (two suites), Building Two at 1,904 SF (five suites), and Building Three at 952 SF (two suites). Building One and Building Three are fully renovated and ready for lease. Building Two features an open floor plan and can be leased as a whole or subdivided into individual suites.
Located at a hard corner and lighted intersection of US Hwy 301 & Huey St in Wildwood (Sumter County). The buildings have stucco construction, concrete flooring, and a mix of roof types including metal and shingle. Heating is central and electric, and cooling is central air. Parking is provided via a parking lot, with public water service. The property was built in 1979.
Past tenant uses noted in the remarks include medical, pharmacy, cosmetology, and charitable organizations, among other retail/office uses.
Located at a hard corner and lighted intersection of US Hwy 301 & Huey St in Wildwood (Sumter County). The buildings have stucco construction, concrete flooring, and a mix of roof types including metal and shingle. Heating is central and electric, and cooling is central air. Parking is provided via a parking lot, with public water service. The property was built in 1979.
Past tenant uses noted in the remarks include medical, pharmacy, cosmetology, and charitable organizations, among other retail/office uses.
Key Highlights
- Totaling 4,396 SF across three buildings with nine suites
- Building One: 1,540 SF with two suites; fully renovated
- Building Two: 1,904 SF with five suites; open floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,684
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$993,680
$993.7K
Cap Rate 7%
$709,771
$709.8K
Cap Rate 9%
$552,044
$552.0K
Market Conditions
NOI Build-Up for 4,396 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.1K $18.00/SF
− Vacancy
−$8.2K −$1.85/SF
EGI
$71.0K $16.15/SF
− OpEx
−$21.3K −$4.84/SF
NOI
$49.7K $11.30/SF
Area
Sumter County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$993,680
Cap Rate 7%
$709,771
Cap Rate 9%
$552,044
Alternative Uses
Best Use
Office B
$964.0K
$843.5K – $1.12M
NOI $67,480 @ 7.0% cap · market cap 10.00%
Second Best
Retail
$709.8K
$621.1K – $828.1K
NOI $49,684 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,096 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 34785, FL
18,677
Population
6,595
Households
2.8
Avg Household Size
46
Median Age
15%
College-Educated
82%
High-School Grad
64.1 sq mi
ZIP Area
291
Density / Sq Mi
$48,004
Median Household Income
$31,207
Median Earnings
$1,082
Median Rent
$210,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Three-building, nine-suite retail/office complex at a lighted hard corner with parking lot and central HVAC.
Where is this retail space located?
The property is located at 101 Huey Street Wildwood, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Totaling 4,396 SF across three buildings with nine suites; Building One: 1,540 SF with two suites; fully renovated; Building Two: 1,904 SF with five suites; open floor plan
