Wildwood Corner Retail/Office
For Sale
$950,000
324 S MAIN St, Wildwood, FL 34785
3,215 SF building on a busy corner for sale/lease.
Property Size3,215 SF
Lot Size0.32 Acres
Price / SF$295.49
Days on Market167
Property Features for 324 S MAIN St
General Information
Standard status
Active
Size
3,215 SF
Lot size
0.32 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,179
Building Details
Building Size
3,215 SF
Year Built
1940
Listing Agency:
GRIZZARD COMMERCIAL REALESTATE
(352) 396-9136
Listed By:
Daniel Tatro · License #3190991
(352) 396-9136
Source:
Elliman
Added: Mar 10
Changed: Aug 23
Last Checked: Aug 22 at 7:34AM
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 3,215 +/- SF concrete building is available for sale or lease ($4,500 + NNN/month). Situated on a busy corner as an outparcel in front of the Wildwood Shopping Center plaza, the property offers superior visibility and easy access. Located in the City of Wildwood, the property is zoned C-1 and benefits from a FDOT traffic count of 28,500 average trips per day. The offering includes two parcels, G06G013 & G06G031, totaling 0.32 +/- acres. Previously used as a jewelry and gun retail/pawn shop, ideal uses include retail, office, or professional services. The shopping plaza is anchored by Save A Lot, US Post Office, Ace Hardware, Antique Mall, Napa Auto & Truck Parts, Badcock Furniture, and a T-Mobile store, among other businesses. The property is located minutes from Florida's Turnpike, I-75, and The Villages, and approximately one hour from Orlando, Ocala, and Tampa. A lease purchase option is available.
Key Highlights
- High‑visibility corner location with easy access in front of Wildwood Shopping Center.
- Located on a busy road with FDOT traffic count of 28,500 average trips per day.
- Located in a busy shopping plaza anchored by Save A Lot, US Post Office, Ace Hardware, and other businesses.
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
$36,337
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
3.82%
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%
$726,740
$726.7K
Cap Rate 7%
$519,100
$519.1K
Cap Rate 9%
$403,744
$403.7K
Market Conditions
NOI Build-Up for 3,215 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
$57.9K $18.00/SF
− Vacancy
−$6.0K −$1.85/SF
EGI
$51.9K $16.15/SF
− OpEx
−$15.6K −$4.84/SF
NOI
$36.3K $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%
$726,740
Cap Rate 7%
$519,100
Cap Rate 9%
$403,744
Alternative Uses
Best Use
Retail
$519.1K
$454.2K – $605.6K
NOI $36,337 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$920.4K
$805.4K – $1.07M
NOI $64,429 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
34k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 29%
Dining 28%
Home Improvements & Furnishings 22%
Groceries 13%
Hardee's
Dining
8,184 visits/mo
0.2 miles
Wildwood Hardware Inc
Home Improvements & Furnishings
7,677 visits/mo
0.2 miles
Family Dollar
Shops & Services
5,699 visits/mo
0.4 miles
Save-A-Lot
Groceries
4,324 visits/mo
0.2 miles
Truist
Shops & Services
2,607 visits/mo
0.2 miles
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 Retail 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?
Retail space - 3,215 SF building on a busy corner for sale/lease.
Where is this retail space located?
The property is located at 324 S MAIN St Wildwood, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: High‑visibility corner location with easy access in front of Wildwood Shopping Center.; Located on a busy road with FDOT traffic count of 28,500 average trips per day.; Located in a busy shopping plaza anchored by Save A Lot, US Post Office, Ace Hardware, and other businesses.
