Office Building With Residential
For Sale
$4,000,000
7177 S George Boulevard, Sebring, FL 33875
CommercialSale, Sebring, FL
Property Size18,600 SF
Price / SF$215.05
Days on Market292
Property Features for 7177 S George Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
52
Subdivision
Skyview Sub
Standard status
Active
APN
C-09-35-29-050-0000-0280
Taxes and HOA fees
Tax Year
2025
Tax Description
SKYVIEW SUB SEC 1 PB 9-PG 20 LOT 28 + LOT 29-LESS COUNTY RD R/W
Tax Annual Amount
25000
Legal Description
SKYVIEW SUB SEC 1 PB 9-PG 20 LOT 28 + LOT 29-LESS COUNTY RD R/W
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
monument signage
Building Details
Floors in Building
2
Flooring type
Tile, Carpet
Building materials
Block, Concrete, Stucco
Roof type
Composition, Shingle
Listing Agency:
RE/MAX of Stuart · RE/MAX International
(772) 288-1111
Listed By:
Rosi Shepard · License #3320083
(772) 323-7037
Added: Nov 5, 2025
Changed: Aug 19
Last Checked: Aug 24 at 5:06AM
MLS# M20052828
Copyright © 2026 Martin County REALTORS® of the Treasure Coast, 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 office property contains 18,600 square feet across a multi-tenant commercial center, including 13,500 square feet occupied by medical, professional, nonprofit, and service tenants. The remaining 4,500 square feet provides additional office capacity. An upstairs residential component includes a three-bedroom, two-bath apartment that is operated as a short-term rental.
The building is constructed with block, concrete, and stucco, with tile and carpet flooring, central heating and central air conditioning. A composition shingle roof installed in 2019, central utilities, surface parking, monument signage, and finished interior spaces are also part of the property. The site is located at 7177 S George Boulevard in Sebring, with frontage along US Highway 27.
The building is constructed with block, concrete, and stucco, with tile and carpet flooring, central heating and central air conditioning. A composition shingle roof installed in 2019, central utilities, surface parking, monument signage, and finished interior spaces are also part of the property. The site is located at 7177 S George Boulevard in Sebring, with frontage along US Highway 27.
Key Highlights
- 18,600 square feet of total office space
- 13,500 square feet currently leased to medical, professional, nonprofit, and service tenants
- 4,500 square feet of vacant office 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
$189,329
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
4.73%
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%
$3,786,580
$3.8M
Cap Rate 7%
$2,704,700
$2.7M
Cap Rate 9%
$2,103,656
$2.1M
Market Conditions
NOI Build-Up for 18,600 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
$323.6K $17.40/SF
− Vacancy
−$71.2K −$3.83/SF
EGI
$252.4K $13.57/SF
− OpEx
−$63.1K −$3.39/SF
NOI
$189.3K $10.18/SF
Area
Highlands County, FL
Vacancy
22.00%
Lease Rate
$17.40 /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%
$3,786,580
Cap Rate 7%
$2,704,700
Cap Rate 9%
$2,103,656
Alternative Uses
Best Use
Office B
$2.70M
$2.37M – $3.16M
NOI $189,329 @ 7.0% cap · market cap 4.73%
Second Best
Healthcare Medical
$2.31M
$2.02M – $2.70M
NOI $161,809 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$3.87M
$3.39M – $4.51M
NOI $270,876 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 33875, FL
11,004
Population
5,655
Households
1.9
Avg Household Size
53
Median Age
26%
College-Educated
92%
High-School Grad
53.4 sq mi
ZIP Area
206
Density / Sq Mi
$76,990
Median Household Income
$48,235
Median Earnings
$1,130
Median Rent
$216,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office property with an upstairs apartment, surface parking, monument signage, and central utilities.
Where is this office building located?
The property is located at 7177 S George Boulevard Sebring, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 18,600 square feet of total office space; 13,500 square feet currently leased to medical, professional, nonprofit, and service tenants; 4,500 square feet of vacant office space
