Income-Generating Flex Warehouse
For Sale
$12,750,000
4707 COUNTY ROAD 156, Wildwood, FL 34785
Fully leased flex warehouse near The Villages with strong cashflow.
Property Size75,000 SF
Price / SF$170
Days on Market129
Property Features for 4707 COUNTY ROAD 156
General Information
Standard status
Active
Size
75,000 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$59,634
Building Details
Building Size
75,000 SF
Year Built
2023
Listing Agency:
GRIZZARD COMMERCIAL REALESTATE
(352) 396-9136
Listed By:
Daniel Tatro · License #3190991
(352) 396-9136
Source:
Elliman
Added: Apr 24
Changed: Aug 21
Last Checked: Aug 29 at 2:36PM
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 GRIZZARD COMMERCIAL REALESTATE
Investment Insights
Based on property information with market context.
This income-generating property, known as "The VIP Garage," features small bay flex warehouses built in 2023. Located in Wildwood, Florida, within The Villages growth area, the property sits almost directly across from Brownwood, The Villages' 3rd Town Center, and is within 1 mile of I-75 and less than a 1/2 mile from the Florida Turnpike. The property consists of 5 buildings with 30 units. Each unit is 2,500 square feet and includes two 12’ x 14’ grade-level doors, a 9’ x 15’ office, a handicap-accessible bathroom, and an A/C unit. The property is fully fenced with a security gate and video surveillance. The property is currently operating at a 6% CAP rate with potential for 8% with rent upside. The property is 100% leased with outstanding cash flow.
Key Highlights
- High Income Potential: Currently at a 6% CAP rate, with potential to reach 8% through rent increases.
- Prime Location: Located in Wildwood, in The Villages growth area, directly across from Brownwood Town Center.
- New Construction: Built in 2023, minimizing potential maintenance.
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
$868,428
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
6.81%
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%
$17,368,560
$17.4M
Cap Rate 7%
$12,406,114
$12.4M
Cap Rate 9%
$9,649,200
$9.6M
Market Conditions
NOI Build-Up for 75,000 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
$1.08M $14.40/SF
− Vacancy
−$58.3K −$0.78/SF
EGI
$1.02M $13.62/SF
− OpEx
−$153.3K −$2.04/SF
NOI
$868.4K $11.58/SF
Area
Sumter County, FL
Vacancy
5.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$17,368,560
Cap Rate 7%
$12,406,114
Cap Rate 9%
$9,649,200
Alternative Uses
Best Use
Warehouse
$12.41M
$10.86M – $14.47M
NOI $868,428 @ 7.0% cap · market cap 6.81%
Second Best
Flex RnD
$10.23M
$8.95M – $11.93M
NOI $715,806 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$21.47M
$18.79M – $25.05M
NOI $1,503,000 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
Well-served
Demand for This Use
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 Industrial 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?
Flex space - Fully leased flex warehouse near The Villages with strong cashflow.
Where is this flex space located?
The property is located at 4707 COUNTY ROAD 156 Wildwood, FL.
What is the asking price?
The asking price for this property is $12,750,000.
What are key features of this property?
This property features: High Income Potential: Currently at a 6% CAP rate, with potential to reach 8% through rent increases.; Prime Location: Located in Wildwood, in The Villages growth area, directly across from Brownwood Town Center.; New Construction: Built in 2023, minimizing potential maintenance.
