Fully Occupied Office Building

989 Sebastian Boulevard, Sebastian, FL 32958

View on Map

For Sale

$1,050,000

Office building with three suites and excellent rental history.

Type:Commercial/Industrial

Property size:

5,062 SF

Lot size:

0.61 Acres

Price / SF:

$207/SF

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.
Opportunity for owner occupancy or continued leasing for income.
Owner financing available.
Building constructed in 2001.

We can help!

Listing Contact

Carl Robert Sciara

For Sale

$1,050,000

Office building with three suites and excellent rental history.

Type:Commercial/Industrial

Property size:

5,062 SF

Lot size:

0.61 Acres

Price / SF:

$207/SF

Added:: Aug 9, 2024
Days on Market:: 673
Last Refresh:: May 19 at 8:55 pm

Property Features for 989 Sebastian Boulevard

General Information

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

Building Details

Year Built: 2001

We can help!

Listing Contact

Carl Robert Sciara

Listing agent Carl Robert Sciara License #0704862

Listing office Dale Sorensen Real Estate Inc.

Listing date Aug 9, 2024

Source Exitrealty

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.

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.
Opportunity for owner occupancy or continued leasing for income.
Owner financing available.
Building constructed in 2001.

Overview

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.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

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 local authorities.

Property Profile Location Intelligence

Current Use by Public Records

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

Suggested Use

Location Insight

Map
Local Demand

City: Sebastian
County: Brevard
State: Florida
Longitude: -80.494
Latitude: 27.7819

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For sale
Office buildings
FL
Sebastian
32958
989 Sebastian Boulevard

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.