Drive-Through Restaurant
For Sale
$625,000
1520 Lakeview Drive, Sebring, FL 33870
Commercial, Single Story, Sebring, FL
Property Size3,164 SF
Lot Size0.83 Acres
Price / SF$197.53
Days on Market74
Property Features for 1520 Lakeview Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Interior features
Private Restrooms, Public Restrooms
Exterior features
Stucco
Directions
From US 27 and Hammock Rd travel SOUTH on US 27 to LEFT on Lakeview Dr to property on the RIGHT
Standard status
Active
APN
S-32-34-29-090-0020-0070
Size
3,164 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KENILWORTH PROP UNREC AN IRREG TR IN SLY PORTION OF GOV LOT 2 + BEING A PORTION OF LOTS 8-9-10-11 BLK 2 SUNSET BEACH SUB PA NO 2-7
Tax Annual Amount
6374
Legal Description
KENILWORTH PROP UNREC AN IRREG TR IN SLY PORTION OF GOV LOT 2 + BEING A PORTION OF LOTS 8-9-10-11 BLK 2 SUNSET BEACH SUB PA NO 2-7
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
1989
Floors in Building
1
Flooring type
Tile
Building materials
Frame
Architectural style
Other
Listing Agency:
ADVANTAGE REALTY #1
(863) 386-0303
Listed By:
Susan Geitner · License #3050844
(863) 273-0145
Added: Jun 16
Changed: Aug 19
Last Checked: Aug 28 at 6:06AM
MLS# 326041
Copyright © 2026 Heartland Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This drive-through restaurant building at 1520 Lakeview Drive in Sebring is set up for restaurant use and is currently partially renovated. The property has been stripped down to studs, with blueprint plans available for buyer buildout. Formerly used as a stand-alone restaurant (Hardees, then Jimmy the Greeks), it includes private restrooms and public restrooms.
The building sits on 0.83 acres and includes a 3,164 SF frame structure with stucco exterior finishes. Interior finishes include tile flooring, and the HVAC includes central air with electric cooling and central electric heating. The property is served by public sewer.
Built in 1989, the estimated seating capacity is 120 people inside, with room for a patio expansion outside. It is located in downtown Sebring near the downtown circle, with AADT 16,100 along the nearby roadway.
The building sits on 0.83 acres and includes a 3,164 SF frame structure with stucco exterior finishes. Interior finishes include tile flooring, and the HVAC includes central air with electric cooling and central electric heating. The property is served by public sewer.
Built in 1989, the estimated seating capacity is 120 people inside, with room for a patio expansion outside. It is located in downtown Sebring near the downtown circle, with AADT 16,100 along the nearby roadway.
Key Highlights
- 0.83‑acre site with 3,164 SF drive‑through restaurant building
- Zoned C2 with estimated seating for 120 inside and room for patio expansion
- Drive‑through capability for quick‑service operations
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 - Zoned C2 with drive-through capability and private/public restrooms on public sewer.
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: 0.83‑acre site with 3,164 SF drive‑through restaurant building; Zoned C2 with estimated seating for 120 inside and room for patio expansion; Drive‑through capability for quick‑service operations
