Historic Two-Story Commercial
For Sale
$690,000
1218 W BROAD STREET, Groveland, FL 34736
Unique property with historic charm, suitable for office or retail.
Property Size2,872 SF
Lot Size1.29 Acres
Price / SF$240.25
Days on Market288
Property Features for 1218 W BROAD STREET
General Information
Standard status
Active
Size
2,872 SF
Lot size
1.29 Acres
Property subtype
Commercial
Building Details
Year Built
1902
Listing Agency:
WHEATLEY REALTY GROUP
(352) 227-3834
Listed By:
MATTHEW WHEATLEY · License #3191795
Source:
Corcoran
Added: Nov 7, 2025
Changed: Jul 6
Last Checked: Aug 22 at 7:00AM
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 WHEATLEY REALTY GROUP
Investment Insights
Based on property information with market context.
Located at 1218 W Broad St in Groveland, this two-story commercial property is rumored to be a historic structure. The building offers a generous footprint on a sizable lot with ample parking, making it suitable for a variety of office or retail uses. The exterior features a classic facade with a full-length porch on both levels, white exposed rafters, light yellow wood siding, and large surrounding trees that offer shade. Inside, the property showcases original wood details, including a grand staircase with rich wood banisters and newel posts, and original hardwood floors throughout the main rooms. The first level features expansive, well-lit spaces, including a room with a wood-framed brick fireplace, and another large area with multiple bay windows and an exterior exit, all featuring high ceilings and thick white baseboards. An intricately carved wooden archway adds historical character to the main floor. The upper level includes several bright rooms with contemporary light gray walls and original hardwood floors, providing flexible space for offices or other needs. One room features three large windows overlooking the grounds and a tin roof below. Another area on the upper level is an enclosed porch with wrap-around windows, a slatted ceiling, and light yellow horizontal wood paneling. The property also includes a functional kitchen space with tile floors and wooden cabinetry, as well as a room with a standing shower stall. The property size is 2872 square feet.
Key Highlights
- Prime location on W Broad St in Groveland suitable for office or retail uses.
- Generous lot size with ample parking.
- Historic building with original wood details, including a grand staircase, hardwood floors, and wood‑framed brick fireplace.**
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
$42,908
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
6.22%
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%
$858,160
$858.2K
Cap Rate 7%
$612,971
$613.0K
Cap Rate 9%
$476,756
$476.8K
Market Conditions
NOI Build-Up for 2,872 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
$68.9K $24.00/SF
− Vacancy
−$11.7K −$4.08/SF
EGI
$57.2K $19.92/SF
− OpEx
−$14.3K −$4.98/SF
NOI
$42.9K $14.94/SF
Area
Lake County, FL
Vacancy
17.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$858,160
Cap Rate 7%
$612,971
Cap Rate 9%
$476,756
Alternative Uses
Best Use
Office B
$613.0K
$536.4K – $715.1K
NOI $42,908 @ 7.0% cap · market cap 6.22%
Second Best
Retail
$485.4K
$424.8K – $566.3K
NOI $33,980 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$817.3K
$715.1K – $953.5K
NOI $57,210 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 34736, FL
24,679
Population
10,029
Households
2.5
Avg Household Size
41
Median Age
32%
College-Educated
87%
High-School Grad
115.0 sq mi
ZIP Area
215
Density / Sq Mi
$82,478
Median Household Income
$42,322
Median Earnings
$1,535
Median Rent
$335,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Unique property with historic charm, suitable for office or retail.
Where is this office units located?
The property is located at 1218 W BROAD STREET Groveland, FL.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Prime location on W Broad St in Groveland suitable for office or retail uses.; Generous lot size with ample parking.; Historic building with original wood details, including a grand staircase, hardwood floors, and wood‑framed brick fireplace.**
