Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11450 S Indian River Dr Sebastian, FL 32958

    Sponsored
    For Sale
    $2,795,000

    MULTI_FAMILY - Sebastian, FL

    Type:Apartment
    Lot size:
    1.61 Acres
    Days on Market:
    9
    Last Refresh:
    Feb 21 at 5:06 am

    Property Features for 11450 S Indian River Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active
    Vegetation
    Wooded
    Zoning
    ,
    APN
    31390800000001000007.0
    Parking
    17
    Parking features
    Off Street, Assigned
    Patio and Porch features
    Porch
    Interior features
    WetBar, EatInKitchen, GreatRoom, PrimaryDownstairs, LivingDiningRoom
    Exterior features
    EnclosedPorch, Porch
    Lot size
    1.61 Acres

    Utilities

    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric
    Water source
    Public
    Water front features
    Navigable Water, River Front
    Water front
    1

    Building Details

    Year built
    1949
    Floors in Building
    1
    Flooring type
    Carpet, Tile
    Building materials
    Block, Concrete
    Roof type
    Shingle, Rolled Hot Mop
    Additional Structures
    Cabana

    We can help!

    Listing Contact
    Chip Landers
    Chip Landers

    Berkshire Hathaway HomeServices Florida Realty (954) 693-0193

    Listing agent Chip Landers (772) 231-1270 License #0493976

    Listing date Feb 13, 2026

    MLS# 293660 Listing URL

    Copyright © 2026 Realtors Association of Indian River County. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Riverfront Cottages on 1.61 Acres

    This riverfront property in Sebastian, Florida, features 12 cottages situated on 1.61 acres. The cottages have been recently updated and decorated by local and national professional decorators. A private dock is available, offering 8 slips. Onsite amenities include an office managed by an onsite manager, snacks, beer and wine, complimentary bikes, kayaks, and canoes. The grounds feature open green space suitable for activities, large oak trees, and native Florida landscaping. The property is zoned RM-6, allowing for the potential development of a 6-7 unit luxury multi-family community. This property is part of an old Florida community with modern design units.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Island View Cottages Hotel & Motel

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sebastian
    County
    Brevard
    State
    Florida
    Longitude
    -80.461012
    Latitude
    27.802594

    Nearby Similar for Sale

    • $399,000
      0.23 Acres

      Sebastian Duplex with Workshop

      Duplex in Sebastian, Florida, with two units, pool, workshop.
      362 Del Monte Rd, Sebastian, FL 32958
      View Details
    • New
      $2,795,000
      70,132 SF

      Riverfront Acres in Sebastian, FL

      1.61 acres, zoned for multifamily, with private dock.
      11450 S Indian River Dr, Sebastian, FL 32958
      View Details
    • $325,000

      Sebastian Duplex with Income Potential

      Duplex in Sebastian, FL, offering immediate cash flow potential.
      11166 Mulberry St, Sebastian, FL 32958
      View Details
    • $1,100,000
      4,534 SF

      Sebastian, FL Retail/Office Plaza

      Retail and office plaza in Sebastian, Florida, near Vero Beach.
      1614 Us Highway 1, Sebastian, FL 32958
      View Details
    • Contact for pricing
      2,676 SF

      Sebastian Medical Office Investment Opportunity

      Fully leased medical office building near Sebastian River Medical Center.
      14445 Us Highway 1, Sebastian, FL 32958
      View Details
    • $650,000
      2,508 SF

      Sebastian Waterfront Business Opportunity

      Prime Location, High Potential, Riverfront Views
      717 Coolidge St, Sebastian, FL 32958
      View Details
    • $749,900
      0.26 Acres

      Industrial Property: Sebastian, FL

      0.26-Acre Industrial Lot - $749,900
      6820 Woodmere Rd, Sebastian, FL 32958
      View Details
    • $749,900

      Sebastian Industrial Corner Lot

      Versatile Warehouse Space, Ample Parking
      6820 Woodmere 6820 Rd, Sebastian, FL 32958
      View Details
    • $799,000
      2,496 SF

      Sebastian Commercial Property

      Versatile Flex Space, Prime Location
      6820 Woodmere Rd, Sebastian, FL 32958
      View Details
    • $799,000
      2,496 SF

      Sebastian Warehouse - $799,000

      Prime Industrial Warehouse, 2,496 sq ft
      6820 Woodmere Rd, Sebastian, FL 32958
      View Details
    • $699,000
      2,676 SF

      Prime Sebastian Commercial Space

      2676 SF, Vacant, Recently Renovated
      14445 Us Highway 1, Sebastian, FL 32958
      View Details
    • $499,000
      1,260 SF

      High-Visibility Sebastian Retail Space

      Prime Retail Space, High Traffic Location. Excellent Investment Opportunity.
      10625 Us Highway 1, Sebastian, FL 32958
      View Details

    FAQs

    What type of property is this?
    Short term rental property - Riverfront property with 12 cottages and development potential.
    Where is this short term rental property located?
    The property is located at 11450 S Indian River Dr Sebastian, FL.
    What is the asking price?
    The asking price for this property is $2,795,000.
    What are key features of this property?
    This property features: - Riverfront property with 1.61 acres and **private dock with 8 slips**; - Includes 12 updated cottages with **modern design**; - Zoned RM-6 for potential development of a 6-7 unit luxury multi-family community
    (772) 473-7888
    Request Owner's contact information
    11450 S Indian River Dr Sebastian, FL 32958
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11450 S Indian River Dr
    Sebastian, FL 32958
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    11450 S Indian River Dr Sebastian, FL 32958
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Chip Landers
    Chip Landers
    Real Estate License ID: 0493976
    (772) 473-7888 (772) 231-1270
    Learn more
    Google sign-in failed. Please try again or use another login method.