Drive-Through Restaurant with Renovation
For Sale
$625,000
1520 LAKEVIEW DRIVE, Sebring, FL 33870
Standalone restaurant building with drive-through capability and blueprints available for buildout.
Property Size3,164 SF
Lot Size0.83 Acres
Price / SF$197.53
Days on Market82
Property Features for 1520 LAKEVIEW DRIVE
General Information
Standard status
Active
Size
3,164 SF
Lot size
0.83 Acres
Property subtype
Restaurant
Additional Details
Traffic Count
16,100 vehicles/day
Building Details
Year Built
1989
Listing Agency:
ADVANTAGE REALTY 1
(863) 386-1111
Listed By:
Susan Geitner · License #3050844
(904) 687-7876
Source:
Endlesssummerrealty
Added: Jun 17
Changed: Sep 6
Last Checked: Sep 6 at 7:54AM
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 ADVANTAGE REALTY 1
Investment Insights
Based on property information with market context.
This standalone drive-through restaurant property was formerly a Hardees and later operated as Jimmy the Greeks. The current owner began renovations and the building is partially gutted, stripped down to studs. Blueprint plans are available for buyer buildout.
Located in downtown Sebring, the site sits on approximately 0.83 acres and offers drive-through capability. Public remarks also note an estimated seating capacity of about 120 people inside, with room for patio expansion outside. The property is described as being close to the downtown Sebring circle, with AADT noted at 16,100.
With the existing renovation work and available plans, this building is positioned for a restaurant concept looking to complete the interior buildout and finalize the exterior dining arrangement.
Located in downtown Sebring, the site sits on approximately 0.83 acres and offers drive-through capability. Public remarks also note an estimated seating capacity of about 120 people inside, with room for patio expansion outside. The property is described as being close to the downtown Sebring circle, with AADT noted at 16,100.
With the existing renovation work and available plans, this building is positioned for a restaurant concept looking to complete the interior buildout and finalize the exterior dining arrangement.
Key Highlights
- Standalone restaurant building built in 1989, located in downtown Sebring.
- Drive‑through capability on a 0.83‑acre property.
- Interior seating capacity estimated at 120 people, with room for patio expansion.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,051
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$621,020
$621.0K
Cap Rate 7%
$443,586
$443.6K
Cap Rate 9%
$345,011
$345.0K
Market Conditions
NOI Build-Up for 3,164 SF
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.
Gross rent
$44.4K $14.04/SF
− Vacancy
−$3.0K −$0.95/SF
EGI
$41.4K $13.09/SF
− OpEx
−$10.4K −$3.27/SF
NOI
$31.1K $9.81/SF
Area
Highlands County, FL
Vacancy
6.80%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$621,020
Cap Rate 7%
$443,586
Cap Rate 9%
$345,011
Alternative Uses
Best Use
Specialty Retail
$443.6K
$388.1K – $517.5K
NOI $31,051 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$658.3K
$576.0K – $768.0K
NOI $46,078 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16,100 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Groceries 33%
Dining 8%
Chevron
Shops & Services
6,323 visits/mo
0.4 miles
Save-A-Lot
Groceries
6,223 visits/mo
0.0 miles
Dollar General
Shops & Services
4,740 visits/mo
0.0 miles
Pelican's SnoBalls
Dining
1,569 visits/mo
0.1 miles
Demographics for 33870, FL
24,238
Population
13,933
Households
1.7
Avg Household Size
51
Median Age
18%
College-Educated
84%
High-School Grad
95.3 sq mi
ZIP Area
254
Density / Sq Mi
$50,606
Median Household Income
$28,475
Median Earnings
$977
Median Rent
$154,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Standalone restaurant building with drive-through capability and blueprints available for buildout.
Where is this drive through restaurant located?
The property is located at 1520 LAKEVIEW DRIVE Sebring, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Standalone restaurant building built in 1989, located in downtown Sebring.; Drive‑through capability on a 0.83‑acre property.; Interior seating capacity estimated at 120 people, with room for patio expansion.
