Grocery and Convenience Store with Living
For Sale
$499,900
664 Woodville Hwy, Crawfordville, FL 32327
Operational retail business includes bait, tackle, grocery, food and beverage sales, plus onsite storage uses.
Property Size2,300 SF
Price / SF$217.35
Days on Market45
Property Features for 664 Woodville Hwy
General Information
Standard status
Active
Size
2,300 SF
Site & Location
Frontage
167 ft
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Listing Agency:
Waypoint Properties
(850) 556-5606
Listed By:
Sara Robinson · License #3289338
Source:
Hopegainesrealestate
Added: Jul 18
Changed: Aug 30
Last Checked: Aug 30 at 3:45PM
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 Waypoint Properties
Investment Insights
Based on property information with market context.
Located at 664 Woodville Hwy in Crawfordville, this 2,300-square-foot grocery and convenience operation combines retail sales with several ancillary services. The business has operated for more than 40 years and includes bait and tackle merchandise, grocery items, food and beverages, ice machine rental, U-Haul rental, and boat storage. Retail equipment includes shrimp and freshwater bait tanks, a cricket cage, frozen bait coolers, registers, shelving, and dedicated grocery and tackle areas.
The property provides 167 feet of highway frontage with direct access to local bays and rivers. Attached living quarters include two bedrooms, one bathroom, a full kitchen, and a living room. Recent property improvements include a roof installed in 2018, replacement A/C in 2021, and plumbing updates completed in 2023. An RV hookup and one covered RV storage space are also included.
The property provides 167 feet of highway frontage with direct access to local bays and rivers. Attached living quarters include two bedrooms, one bathroom, a full kitchen, and a living room. Recent property improvements include a roof installed in 2018, replacement A/C in 2021, and plumbing updates completed in 2023. An RV hookup and one covered RV storage space are also included.
Key Highlights
- 2,300‑square‑foot grocery and convenience operation with an established 40‑plus‑year history
- 167 feet of highway frontage at 664 Woodville Hwy, Crawfordville, FL 32327
- Retail setup includes shrimp and freshwater bait tanks, cricket cage, coolers, registers, and shelving
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
$28,256
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
5.65%
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%
$565,120
$565.1K
Cap Rate 7%
$403,657
$403.7K
Cap Rate 9%
$313,956
$314.0K
Market Conditions
NOI Build-Up for 2,300 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
$48.3K $21.00/SF
− Vacancy
−$10.6K −$4.62/SF
EGI
$37.7K $16.38/SF
− OpEx
−$9.4K −$4.10/SF
NOI
$28.3K $12.29/SF
Area
Wakulla County, FL
Vacancy
22.00%
Lease Rate
$21.00 /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%
$565,120
Cap Rate 7%
$403,657
Cap Rate 9%
$313,956
Alternative Uses
Best Use
Office B
$403.7K
$353.2K – $470.9K
NOI $28,256 @ 7.0% cap · market cap 5.65%
Second Best
Specialty Retail
$375.3K
$328.4K – $437.8K
NOI $26,268 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$563.9K
$493.4K – $657.8K
NOI $39,470 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32327, FL
30,048
Population
11,730
Households
2.6
Avg Household Size
42
Median Age
22%
College-Educated
88%
High-School Grad
235.6 sq mi
ZIP Area
128
Density / Sq Mi
$76,714
Median Household Income
$43,825
Median Earnings
$1,126
Median Rent
$215,500
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?
Grocery and convenience store - Operational retail business includes bait, tackle, grocery, food and beverage sales, plus onsite storage uses.
Where is this grocery and convenience store located?
The property is located at 664 Woodville Hwy Crawfordville, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,300‑square‑foot grocery and convenience operation with an established 40‑plus‑year history; 167 feet of highway frontage at 664 Woodville Hwy, Crawfordville, FL 32327; Retail setup includes shrimp and freshwater bait tanks, cricket cage, coolers, registers, and shelving
