Mixed-Use Property with Retail
New
For Sale
$499,900
408 N Ridgewood Drive, Sebring, FL 33870
Commercial, Single Story, Sebring, FL
Property Size3,940 SF
Lot Size0.22 Acres
Price / SF$126.88
Days on Market2
Property Features for 408 N Ridgewood Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Interior features
Cable TV Available, High Ceilings (9'+), Living Quarters, Private Restrooms, Public Restrooms, Unfurnished
Directions
From US 27 N in Sebring Northbound and south of Publix by Lake Jackson, take a Slight right to continue straight onto Lakeview Dr for 1.1 mi. Continue onto S Ridgewood Dr 0.2 mi. At Circle Park Dr, take the 3rd exit onto N Ridgewood Dr and Destination will be on the right.
Standard status
Active
APN
S-29-34-29-070-0340-0031
Size
3,940 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF SEBRING-TRANS BK-PG 6 50 X 150 FT IN NW COR OF LOT 3 + E 15 FT OF W 165 FT OF LOT 3 BLK 34
Tax Annual Amount
4950
Legal Description
TOWN OF SEBRING-TRANS BK-PG 6 50 X 150 FT IN NW COR OF LOT 3 + E 15 FT OF W 165 FT OF LOT 3 BLK 34
Utilities
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating), Electric (Heating)
Cooling system
Central Air, Electric, Wall Unit(s)
Amenities
air-conditioned
private bathrooms
private office
storage area
Building Details
Year built
1979
Floors in Building
1
Flooring type
Tile, Vinyl
Building materials
Concrete Block, Metal Frame
Roof type
Metal
Architectural style
Other
Listing Agency:
Paradise Real Estate International LLC
(863) 272-7540
Listed By:
Kenneth Oxsalida · License #3577009
(863) 272-2396
Added: Sep 15
Last Checked: Sep 16 at 6:06AM
MLS# 327985
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 C1-zoned mixed-use property includes a 3,940-square-foot commercial building and a separate two-unit residential structure on a 0.22-acre site. The main building offers air-conditioned open space, two private bathrooms, a private office, storage, and a drop ceiling. A metal roof was installed in 2026, and the building includes central air, electric heating, and concrete block and metal frame construction.
Each residential unit has one bedroom and one bathroom, with separate access from the rear road. Public sewer serves the property. Located at 408 N Ridgewood Drive in Sebring, the site is three blocks from Downtown Sebring and directly adjacent to Faded Bistro. The Sebring Christmas Parade passes in front of the property annually, and the surrounding district includes restaurants, boutiques, breweries, and community events.
Each residential unit has one bedroom and one bathroom, with separate access from the rear road. Public sewer serves the property. Located at 408 N Ridgewood Drive in Sebring, the site is three blocks from Downtown Sebring and directly adjacent to Faded Bistro. The Sebring Christmas Parade passes in front of the property annually, and the surrounding district includes restaurants, boutiques, breweries, and community events.
Key Highlights
- 3,940‑square‑foot commercial building on a 0.22‑acre site
- Two residential units, each with 1 bedroom and 1 bathroom
- Commercial building includes two private bathrooms, office, storage, and open space
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
$37,026
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
7.41%
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%
$740,520
$740.5K
Cap Rate 7%
$528,943
$528.9K
Cap Rate 9%
$411,400
$411.4K
Market Conditions
NOI Build-Up for 3,940 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
$59.1K $15.00/SF
− Vacancy
−$6.2K −$1.58/SF
EGI
$52.9K $13.43/SF
− OpEx
−$15.9K −$4.03/SF
NOI
$37.0K $9.40/SF
Area
Highlands County, FL
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$740,520
Cap Rate 7%
$528,943
Cap Rate 9%
$411,400
Alternative Uses
Best Use
Retail
$528.9K
$462.8K – $617.1K
NOI $37,026 @ 7.0% cap · market cap 7.41%
Second Best
Multifamily LT 5
$508.4K
$444.8K – $593.1K
NOI $35,586 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$819.7K
$717.2K – $956.3K
NOI $57,379 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two structures combine open commercial space with two one-bedroom residential units and separate rear access.
Where is this mixed-use property located?
The property is located at 408 N Ridgewood Drive Sebring, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,940‑square‑foot commercial building on a 0.22‑acre site; Two residential units, each with 1 bedroom and 1 bathroom; Commercial building includes two private bathrooms, office, storage, and open space
