Commercial Land with 4-Bay
For Sale
$575,000
9115 US Highway 1, Sebastian, FL 32958
CG-zoned property along US-1 with an existing historic structure, private well, and potential for office or boutique conversion.
Property Size2,140 SF
Days on Market129
Property Features for 9115 US Highway 1
General Information
Standard status
Active
Size
2,140 SF
Property subtype
Industrial
Building Details
Building Size
2,140 SF
Year Built
1922
Stories
1
Listing Agency:
Dale Sorensen Real Estate Inc.
(772) 971-0797
Listed By:
David M Decker · License #3411305
(772) 971-0797
Source:
Elliman
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 29 at 7:47PM
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 Dale Sorensen Real Estate Inc.
Investment Insights
Based on property information with market context.
This 1/2-acre commercial parcel carries CG zoning and includes a residence constructed in 1922. The property retains its historic character while offering a four-bay garage and private well. The existing improvements are currently configured for residential use and may support conversion to office, salon, or boutique space, subject to applicable approvals.
Fronting US Highway 1 in Sebastian, the site benefits from a high-traffic corridor and westward expansion context. BikeScore is 28 and WalkScore is 4, reflecting a car-dependent setting. The combination of commercial zoning, existing improvements, garage capacity, and frontage along US-1 creates a flexible redevelopment profile.
Fronting US Highway 1 in Sebastian, the site benefits from a high-traffic corridor and westward expansion context. BikeScore is 28 and WalkScore is 4, reflecting a car-dependent setting. The combination of commercial zoning, existing improvements, garage capacity, and frontage along US-1 creates a flexible redevelopment profile.
Key Highlights
- 1/2‑acre commercial parcel with CG zoning
- Frontage along US Highway 1 in Sebastian
- 1922 residence with historic character
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
$29,121
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
5.06%
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%
$582,420
$582.4K
Cap Rate 7%
$416,014
$416.0K
Cap Rate 9%
$323,567
$323.6K
Market Conditions
NOI Build-Up for 2,140 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
$46.2K $21.60/SF
− Vacancy
−$7.4K −$3.46/SF
EGI
$38.8K $18.14/SF
− OpEx
−$9.7K −$4.54/SF
NOI
$29.1K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /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%
$582,420
Cap Rate 7%
$416,014
Cap Rate 9%
$323,567
Alternative Uses
Best Use
Office B
$416.0K
$364.0K – $485.4K
NOI $29,121 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$564.6K
$494.0K – $658.7K
NOI $39,522 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 32958, FL
28,619
Population
15,512
Households
1.8
Avg Household Size
58
Median Age
29%
College-Educated
92%
High-School Grad
27.9 sq mi
ZIP Area
1,026
Density / Sq Mi
$68,276
Median Household Income
$37,412
Median Earnings
$1,388
Median Rent
$279,100
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?
Commercial land - CG-zoned property along US-1 with an existing historic structure, private well, and potential for office or boutique conversion.
Where is this commercial land located?
The property is located at 9115 US Highway 1 Sebastian, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1/2‑acre commercial parcel with CG zoning; Frontage along US Highway 1 in Sebastian; 1922 residence with historic character
