Fully Occupied Office
989 Sebastian Boulevard Sebastian, FL 32958
For Sale
$1,050,000
Pending
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.
(772) 538-0804
Listed By:
Carl Robert Sciara · License #0704862
(772) 538-0804
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
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
NOI $93,485 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
