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Fully Occupied Office Building
For Sale
$1,050,000
Pending

989 Sebastian Boulevard, Sebastian, FL 32958

Office building with three suites and excellent rental history.

Property Size5,062 SF
Lot Size0.61 Acres
Days on Market721

Property Features for 989 Sebastian Boulevard

General Information

Standard status Pending
Size 5,062 SF
Lot size 0.61 Acres
Property subtype Commercial/Industrial

Building Details

Year Built 2001
Listing Agency: Dale Sorensen Real Estate Inc.
Listed By: Carl Robert Sciara · License #0704862
Source: Exitrealty
Added: Aug 9, 2024 Changed: Jul 6 Last Checked: Jul 23 at 8:09AM

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 Dale Sorensen Real Estate Inc.

Investment Insights

Based on property information with market context.

This is an opportunity to purchase a fully occupied office building with a rental history. The property consists of three separate office/medical suites. It is located on Sebastian's main East/West Artery, providing direct access to I-95 and US Highway 1. The property is currently occupied by three tenants. Two of the suites are 1,250 square feet each, and the third suite is 2,500 square feet. The total property size is 5,062 square feet. Once space is available, buyers can use it or lease it for income.

Key Highlights

  • Fully occupied office building with excellent rental history.
  • Three separate office/medical suites.
  • Prime location on Sebastian's main East/West artery with direct access to I‑95 and US Highway 1.

Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $109.3k $21.60
− Vacancy −$17.5k −$3.46
EGI $91.8k $18.14
− OpEx −$23.0k −$4.54
NOI $68.9k $13.61
5,062 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%

Alternative Uses

Best Use
Office B
$984.1K
$861.1K – $1.15M (±1% cap)
NOI $68,884 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M (±1% cap)
NOI $93,485 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

American Security Council ... Charitable Organization Center for Pain Treatment: ... Physician Sharon Taranto Physician Anthony Romano Physician

Suggested Use

Top Pick Law Firm Dental Office Hair Salon Restaurant Real Estate Agency Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

221
Businesses Nearby

Demographics for 32958, FL

28,619
Population
15,512
Households
1.8
Avg Household Size
58
Median Age
29%
College-Educated
92%
High-School Grad
27.9 sq mi
ZIP Area
1,026
Density / Sq Mi
$68,276
Median Household Income
$37,412
Median Earnings
$1,388
Median Rent
$279,100
Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019
16.4% 2020
17.3% 2021
18% 2022
18.6% 2023
20.3% 2024
20.2% 2025
Rey
Questions? Ask Rey
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Frequently Asked Questions

What type of property is this?
Office building - Office building with three suites and excellent rental history.
Where is this office building located?
The property is located at 989 Sebastian Boulevard Sebastian, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fully occupied office building with excellent rental history.; Three separate office/medical suites.; Prime location on Sebastian's main East/West artery with direct access to I‑95 and US Highway 1.
More about this property
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