Flex Space With
New
For Sale
$1,250,000
2920 KENILWORTH Blvd A, Sebring, FL 33870
Versatile commercial facility with finished offices, reinforced concrete improvements, and multiple accessory buildings in downtown Sebring.
Property Size13,611 SF
Price / SF$96.15
Days on Market2
Property Features for 2920 KENILWORTH Blvd A
General Information
Standard status
Active
Size
13,611 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
20 ft
Office Build-Out
2,000 SF
Drive-In Doors
6
Taxes and HOA fees
Annual Taxes
$13,619
Building Details
Building Size
13,611 SF
Year Built
1958
Buildings
3
Units
3
Listing Agency:
Advantage Realty
(863) 381-4932
Listed By:
Gregory Karlson · License #569759
(863) 381-4932
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 10:13AM
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
Investment Insights
Based on property information with market context.
This flex-space property includes a 13,000-square-foot warehouse facility with approximately 2,000 square feet of finished office and showroom area. The improvements feature six 12-by-12-foot ground-level roll-up doors, reinforced concrete infrastructure, and two additional buildings. The property was built in 1958 and offers a combination of warehouse, office, showroom, and industrial building space.
Located in downtown Sebring, the site is somewhat bikeable with a bikeScore of 47 and car-dependent with a walkScore of 39. The additional industrial buildings measure approximately 75 by 60 feet and 160 by 40 feet, providing further enclosed space for the property’s commercial operations. A seller leaseback for one year at a 7.5% cap rate may be available to a buyer, subject to the seller’s stated terms.
Located in downtown Sebring, the site is somewhat bikeable with a bikeScore of 47 and car-dependent with a walkScore of 39. The additional industrial buildings measure approximately 75 by 60 feet and 160 by 40 feet, providing further enclosed space for the property’s commercial operations. A seller leaseback for one year at a 7.5% cap rate may be available to a buyer, subject to the seller’s stated terms.
Key Highlights
- 13,000‑square‑foot flex‑space warehouse facility
- Approximately 2,000 square feet of finished office and showroom space
- Six 12‑by‑12‑foot ground‑level roll‑up doors
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
$85,840
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
6.87%
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%
$1,716,800
$1.7M
Cap Rate 7%
$1,226,286
$1.2M
Cap Rate 9%
$953,778
$953.8K
Market Conditions
NOI Build-Up for 13,000 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
$106.1K $8.16/SF
− Vacancy
−$5.1K −$0.39/SF
EGI
$101.0K $7.77/SF
− OpEx
−$15.1K −$1.17/SF
NOI
$85.8K $6.60/SF
Area
Highlands County, FL
Vacancy
4.80%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$1,716,800
Cap Rate 7%
$1,226,286
Cap Rate 9%
$953,778
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.21M
NOI $132,327 @ 7.0% cap · market cap 10.59%
Second Best
Retail
$1.75M
$1.53M – $2.04M
NOI $122,167 @ 7.0% cap · market cap 9.77%
Theoretical Best
Office A
$2.70M
$2.37M – $3.16M
NOI $189,322 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
6
Drive-in doors
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility with finished offices, reinforced concrete improvements, and multiple accessory buildings in downtown Sebring.
Where is this flex space located?
The property is located at 2920 KENILWORTH Blvd A Sebring, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 13,000‑square‑foot flex‑space warehouse facility; Approximately 2,000 square feet of finished office and showroom space; Six 12‑by‑12‑foot ground‑level roll‑up doors
