400 Gulf Atlantic HwyWildwood, FL 34785

Property Details for 400 Gulf Atlantic Hwy

Year built

1972

Construction

STEEL FRAME

Lot size

0.68 AC

Property size (Sq ft)

2,440 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

G07-074

APU

G07074

Description

Wildwood Marketplace, a 52,779-square-foot Class C retail center in Wildwood, Florida (APN G07=057), offers multiple storefront spaces for lease. Located at 400 W Gulf Atlantic Hwy, 34785, this property boasts 40,817 square feet of vacant space, divisible into units ranging from 2,584 to 38,233 contiguous square feet. Built in 2001, the center sits on 23.93 acres and provides ample parking (6 spaces per 1,000 square feet). Its C3 zoning allows for a variety of retail uses. The property benefits from its proximity to The Villages, a major development featuring 22,000 new homes and 2.3 million square feet of commercial space currently under construction, and is just 1.5 miles from The Villages and 1 mile from the Turnpike. Lease rates are negotiable, based on space size and lease term, with guidance ranging from $12 per square foot per year for larger spaces to $25 per square foot per year for smaller spaces, plus $3.50 per square foot per year in NNN expenses. Vacant units are clearly marked.

• CAP approach

  CAP return

  Valuation

  6%

  $641,670

  6.5%

  $592,310

  7%

  $550,002

• Comparable approach

  Method

  Valuation

  Relative Method

  $593,887

  Geo Method

  $593,887

• Alternative Use

  Use

  Valuation

  Residential

  $592,310

  Hospitality

  $542,553

  Educational

  $451,398

  Medical

  $466,922

  Retail

  $702,174

Location Insight

City

Wildwood

County

Sumter

State

Florida

Latitude

28.8466

Longitude

-82.0428

CBSA code

45540

CBSA name

THE VILLAGES, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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