Commercial Land with Existing
For Sale
$699,000
1859 C 470, Sumterville, FL 33585
Commercially zoned land along Highway 470 with existing house and public water lines at the frontage.
Property Size3,331 SF
Price / SF$209.85
Days on Market253
Property Features for 1859 C 470
General Information
Standard status
Active
Size
3,331 SF
Property subtype
Mixed Use
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,673
Amenities
Central Air
Building Details
Year Built
1967
Listing Agency:
FLAMINGO REAL ESTATE & MNGMT
(352) 689-1000
Listed By:
Bradley Werlin II · License #3494653
Source:
Xome
Added: Dec 2, 2025
Changed: Aug 12
Last Checked: Aug 12 at 3:24AM
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 FLAMINGO REAL ESTATE & MNGMT
Investment Insights
Based on property information with market context.
This commercial land offering includes over 2 acres with an existing house on-site that can be remodeled for commercial standards. The property is positioned along the edge of highly traveled Highway 470, designed to support visibility and straightforward access for future development.
The site is zoned C-2 within the City of Bushnell Zoning District, which provides flexibility for a broad variety of commercial uses, including retail, office, and service business development. Public water lines run directly along Highway 470 in front of the property, supporting an efficient path for future utilities.
With the opportunity to adapt the existing house and develop additional improvements under the C-2 zoning framework, this property can suit a range of commercial plans in a corridor that is seeing ongoing industrial and commercial development.
The site is zoned C-2 within the City of Bushnell Zoning District, which provides flexibility for a broad variety of commercial uses, including retail, office, and service business development. Public water lines run directly along Highway 470 in front of the property, supporting an efficient path for future utilities.
With the opportunity to adapt the existing house and develop additional improvements under the C-2 zoning framework, this property can suit a range of commercial plans in a corridor that is seeing ongoing industrial and commercial development.
Key Highlights
- Commercially zoned property on over 2 acres along Highway 470 in Sumterville, FL
- Zoned C‑2 (City of Bushnell Zoning District), allowing a broad variety of commercial uses
- Public water lines run along Highway 470 at the property frontage
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
$51,132
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
7.32%
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%
$1,022,640
$1.0M
Cap Rate 7%
$730,457
$730.5K
Cap Rate 9%
$568,133
$568.1K
Market Conditions
NOI Build-Up for 3,331 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
$83.1K $24.96/SF
− Vacancy
−$15.0K −$4.49/SF
EGI
$68.2K $20.47/SF
− OpEx
−$17.0K −$5.12/SF
NOI
$51.1K $15.35/SF
Area
Sumter County, FL
Vacancy
18.00%
Lease Rate
$24.96 /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%
$1,022,640
Cap Rate 7%
$730,457
Cap Rate 9%
$568,133
Alternative Uses
Best Use
Office B
$730.5K
$639.2K – $852.2K
NOI $51,132 @ 7.0% cap · market cap 7.32%
Second Best
Retail
$537.8K
$470.6K – $627.5K
NOI $37,648 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$953.6K
$834.4K – $1.11M
NOI $66,753 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 33585, FL
1,218
Population
636
Households
1.9
Avg Household Size
43
Median Age
13%
College-Educated
95%
High-School Grad
35.4 sq mi
ZIP Area
34
Density / Sq Mi
$80,972
Median Household Income
$57,138
Median Earnings
$854
Median Rent
$213,900
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?
Commercial land - Commercially zoned land along Highway 470 with existing house and public water lines at the frontage.
Where is this commercial land located?
The property is located at 1859 C 470 Sumterville, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Commercially zoned property on over 2 acres along Highway 470 in Sumterville, FL; Zoned C‑2 (City of Bushnell Zoning District), allowing a broad variety of commercial uses; Public water lines run along Highway 470 at the property frontage
