Building Details

Year Built 1983

Listing Agency: NEXTHOME SALLY LOVE REAL ESTATE Show Phone

Listed By: Carlos Fuentes, PA · License #3359926 Show Phone

Source: Exitrealty

Added: Jun 7, 2025 Changed: Oct 15 Last Checked: Oct 14 at 9:22PM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,687

Cap Rate

5.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$313,740 $313.7K

Cap Rate 7%

$224,100 $224.1K

Cap Rate 9%

$174,300 $174.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,572 SF

Gross rent

$30.2K $19.20/SF

− Vacancy

−$1.7K −$1.06/SF

EGI

$28.5K $18.14/SF

− OpEx

−$12.8K −$8.16/SF

NOI

$15.7K $9.98/SF

Area

Sumter County, FL

Vacancy

5.50%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$313,740

Cap Rate 7%

$224,100

Cap Rate 9%

$174,300

Alternative Uses

Best Use

Apartment 5plus

$224.1K

$196.1K – $261.5K (±1% cap)

NOI $15,687 @ 7.0% cap · market cap 5.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$450.0K

$393.8K – $525.1K (±1% cap)

NOI $31,503 @ 7.0% cap · market cap 11.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Residential land & home ...

Suggested Use

Top Pick Dental Office Parking Lot & Garage Cafe & Coffee Shop Carpet & Flooring Store (Bike/Boat/Book/etc) Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

351

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 Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

Where is this multifamily property located?

The property is located at 1203 HIGH STREET Wildwood, FL.

What is the asking price?

The asking price for this property is $264,700.