Prime Commercial Property on State
For Sale
$600,000
6876 E STATE ROAD 44, Wildwood, FL 34785
1.6-acre commercial property with move-in ready office space.
Property Size1,196 SF
Lot Size1.60 Acres
Price / SF$500
Days on Market152
Property Features for 6876 E STATE ROAD 44
General Information
Standard status
Active
Size
1,196 SF
Lot size
1.60 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,449
Building Details
Building Size
1,196 SF
Year Built
1994
Listing Agency:
Flamingo Real Estate & Management, LLC
(352) 303-6798
Listed By:
Robbie Shoemaker
(352) 303-6798
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 2:02PM
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 & Management, LLC
Investment Insights
Based on property information with market context.
This 1.6-acre commercial property is located on State Road 44, west of Morse Boulevard, in The Villages & Wildwood’s business corridor. Zoned for Light Commercial use by Sumter County, the site includes a 1,200-square-foot office building converted from residential to commercial use. The office space features a lobby, a kitchen, a handicap-accessible bathroom, and two private offices. The property has dual road frontage, with approximately 150 feet of frontage on both State Road 44 and Wesleyan Way. Located between Buena Vista Boulevard and Morse Boulevard, the property is near The Villages. A planned Walmart Supercenter at the intersection of State Road 44 and Morse Boulevard is expected to further increase the area’s economic appeal. The property offers accessibility and visibility for businesses.
Key Highlights
- Prime 1.6‑acre commercial property on State Road 44 in a rapidly growing business corridor.
- Zoned for Light Commercial use by Sumter County.
- Dual road frontage: approximately 150 feet on State Road 44 and Wesleyan Way.
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
$18,420
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
3.07%
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%
$368,400
$368.4K
Cap Rate 7%
$263,143
$263.1K
Cap Rate 9%
$204,667
$204.7K
Market Conditions
NOI Build-Up for 1,200 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
$30.0K $24.96/SF
− Vacancy
−$5.4K −$4.49/SF
EGI
$24.6K $20.47/SF
− OpEx
−$6.1K −$5.12/SF
NOI
$18.4K $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%
$368,400
Cap Rate 7%
$263,143
Cap Rate 9%
$204,667
Alternative Uses
Best Use
Office B
$263.1K
$230.3K – $307.0K
NOI $18,420 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$343.5K
$300.6K – $400.8K
NOI $24,048 @ 7.0% cap · market cap 4.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 1.6-acre commercial property with move-in ready office space.
Where is this commercial land located?
The property is located at 6876 E STATE ROAD 44 Wildwood, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Prime 1.6‑acre commercial property on State Road 44 in a rapidly growing business corridor.; Zoned for Light Commercial use by Sumter County.; Dual road frontage: approximately 150 feet on State Road 44 and Wesleyan Way.
