What’s going there?
Chesterfield Plaza II
4713 State Road 44
Wildwood, Sumter County, FL
The property owner (Ro-Mac Lumber) is underway with the development of a vacant, 3.36-acre site that is situated directly fronting State Road 44, immediately to the west of the newly constructed UF Health ER @ The Villages, and across the street from Brownwood Paddock Square. Referred to as Chesterfield Plaza II, this project was submitted on January 27, 2023. The property is zoned C-3, Commercial.
Plans call for two, 7,500 sf multi-tenant retail buildings that will parallel State Road 44. There will be 60 surface parking spaces situated in front of the buildings, providing a 4:1,000 sf parking ratio. A water detention pond will be created behind the newly developed structures to accommodate storm water runoff, etc. Rents have not been announced but will likely top $25 psf nnn.
Commercial property development in the Wildwood area has seen tremendous growth in recent years due to The Villages. Valbridge has appraised numerous existing and proposed uses in the Sumter and Marion County area. Commercial values continue to trend upward in this area due to prolonged population densification. As a result, we expect the Wildwood area to witness strong continued growth and appreciation over the coming years.
Do you have questions about your commercial real estate? If so, please consider Valbridge Property Advisors | Orlando for all of your commercial appraisal, valuation and consulting needs.