Historic Downtown Bushnell Commercial
For Sale
$1,250,000
120 N MAIN ST, Bushnell, FL 33513
Unique commercial property with two buildings in downtown Bushnell.
Property Size5,874 SF
Days on Market184
Property Features for 120 N MAIN ST
General Information
Standard status
Active
Size
5,874 SF
Property subtype
Business
Taxes and HOA fees
Annual Taxes
$7,207
Building Details
Building Size
5,874 SF
Year Built
1906
Listing Agency:
MEADOWS REALTY, LLC
Listed By:
Bert Meadows · License #0430844
(352) 598-6084
Source:
Kingofrealestate
Added: Mar 13
Changed: Aug 28
Last Checked: Sep 12 at 8:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MEADOWS REALTY, LLC
Investment Insights
Based on property information with market context.
Located in downtown Bushnell, this commercial property includes two buildings. The first building is a historic two-story brick structure dating back to 1906. This building has housed a variety of professional offices throughout the years. The space offers potential for restoration, offices, retail, or creative redevelopment. The second building is a solid concrete block structure that served as the Bushnell Pharmacy for many years. The interior is divided, allowing for two separate tenant spaces, making it a great opportunity for rental income or multi-business use. Both buildings feature roofs that are in good condition. Situated along Main Street in downtown Bushnell, the property benefits from visibility, local foot traffic, and a location near government offices, shops, and restaurants. The property is located in the heart of downtown Bushnell.
Key Highlights
- Prime downtown Bushnell location on Main Street with high visibility and foot traffic.
- Two buildings included: a historic 1906 two‑story brick building and a durable concrete block building.
- Concrete block building is already divided into two tenant spaces for immediate rental income potential.
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
$66,389
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
5.31%
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%
$1,327,780
$1.3M
Cap Rate 7%
$948,414
$948.4K
Cap Rate 9%
$737,656
$737.7K
Market Conditions
NOI Build-Up for 5,874 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
$105.7K $18.00/SF
− Vacancy
−$10.9K −$1.85/SF
EGI
$94.8K $16.15/SF
− OpEx
−$28.5K −$4.84/SF
NOI
$66.4K $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%
$1,327,780
Cap Rate 7%
$948,414
Cap Rate 9%
$737,656
Alternative Uses
Best Use
Retail
$948.4K
$829.9K – $1.11M
NOI $66,389 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,715 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33513, FL
12,204
Population
5,527
Households
2.2
Avg Household Size
47
Median Age
15%
College-Educated
84%
High-School Grad
85.5 sq mi
ZIP Area
143
Density / Sq Mi
$59,497
Median Household Income
$35,403
Median Earnings
$1,089
Median Rent
$213,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Unique commercial property with two buildings in downtown Bushnell.
Where is this storefront property located?
The property is located at 120 N MAIN ST Bushnell, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime downtown Bushnell location on Main Street with high visibility and foot traffic.; Two buildings included: a historic 1906 two‑story brick building and a durable concrete block building.; Concrete block building is already divided into two tenant spaces for immediate rental income potential.
