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    1004 Cleveland Ave Wildwood, FL 34785

    • Commercial real estate
    • 1.37 lot acres
    For Sale
    View listing
    $600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3168929
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1004 Cleveland Ave

    Lot size
    1.37 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.37-acre commercial land parcel presents a remarkable investment opportunity in the thriving Wildwood, Florida area. Located at 1004 Cleveland Ave, Wildwood, FL 34785, this mixed-use property offers significant potential for various development projects. Its strategic location provides convenient access to major highways and is situated minutes from The Villages, a rapidly expanding active adult community. The area boasts a vibrant atmosphere with abundant shopping, dining, and recreational options, ensuring a strong foundation for future growth and profitability. This property is ideal for those seeking a long-term investment, residential development, or commercial ventures. The asking price is $600,000. The property's proximity to established amenities and its position within a high-growth area make it an attractive proposition for discerning investors. This is a rare chance to acquire a substantial land holding in a dynamic and promising Florida market. The property is zoned for mixed-use development, offering flexibility for a wide range of projects. Don't miss this chance to capitalize on the significant growth potential of this prime Wildwood location. Broker co-op is available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wildwood
    County
    Sumter
    State
    Florida
    Longitude
    -82.0290998
    Latitude
    28.8650918

    Comparable in this City

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      High-Visibility Wildwood Mixed-Use

      Prime .85-acre commercial lot, high traffic.
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    Similar Nearby for Sale

    • Contact for pricing
      54.50 Acres

      Prime Sumter County Commercial Land

      54.5 Acres, High-Traffic Location
      0 Tpke, Sumterville, FL 34785
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      Versatile Land Parcel with Dual Frontage

      2.41-acre parcel with utilities, suitable for various commercial uses.
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    • $5,400,000

      Prime Coleman, FL Development Land

      54 Acres, Hwy 301 Realignment, High Growth
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      Turnkey Commercial Land Opportunity

      One-acre commercial parcel in Coleman's growth corridor, ready for development.
      2889 County Road 523, Wildwood, FL 34785
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      US Hwy 301 Commercial Property

      .85-Acre lot with 360 sq ft building. High traffic location.
      830 Main St, Wildwood, FL 34785
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    • $849,000
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      High-Visibility Wildwood Mixed-Use

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    Similar Nearby for Lease

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      Coleman Flex Business Park

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      Retail Space on State Road

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      3,316 SF

      Retail Space in Wildwood, FL

      Retail space available for lease in Wildwood, Florida.
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      Retail Space Available For Rent

      Retail space available for rent at $11 per square foot.
      4713 E State Road 44, Wildwood, FL 34785
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    1004 Cleveland Ave
    Wildwood, FL 34785
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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