Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cleared Lot in Sebastian Highlands Title is generated by Realmo AI

    949 Riviera Avenue, Sebastian, FL 32958

    View on Map
    Claim this Listing
    For Sale
    $89,900

    LAND - Sebastian, FL

    Lot size:
    0.24 Acres
    Added:
    May 8, 2026
    Days on Market:
    24
    Last Refresh:
    May 31 at 6:06 pm

    Property Features for 949 Riviera Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    ,
    Standard status
    Active
    APN
    31381400002163000020.0
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Description
    SEBASTIAN HIGHLANDS UNIT 05 BLK 163 LOT 20 PBI 5-102

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Heather C Lewis

    Listing agent Heather C Lewis License #3536149

    Listing office EXP Realty, LLC 601 21st St Ste 100, Jacksonville, FL

    Listing date May 8, 2026

    MLS# 297171 Listing URL

    Copyright © 2026 Realtors Association of Indian River County. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Cleared vacant lot ready for construction, saving time and money.
    • Located in the desirable Sebastian Highlands community.
    • Convenient access to shopping, dining, parks, and schools.
    • Close proximity to the Indian River Lagoon, marinas, boating, fishing, and beaches.
    • Public water source available.
    • Opportunity to build a custom home in an established neighborhood.

    Overview

    This nearly fully cleared vacant lot is located in the Sebastian Highlands community of Sebastian. The property is ready for construction, offering the opportunity to design and build a home in an established neighborhood. The location provides convenient access to shopping, dining, parks, schools, marinas, and the Indian River Lagoon. Residents can enjoy boating, fishing, beaches, and other amenities that Sebastian has to offer. The lot size is 0.24 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Skin Care Clinic Daycare Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sebastian
    County
    Brevard
    State
    Florida
    Longitude
    -80.501162
    Latitude
    27.781722

    Nearby Similar for Sale

    • $550,000

      Sebastian Commercial Land For Sale

      1.52 acre commercial land with high-exposure frontage.
      11515 S Indian River Drive, Sebastian, FL 32958
      View Details
    • $333,333

      Riverfront Homesite in Gated Community

      Premier river-frontage homesite in gated Village of Kashi.
      11311 Ganesh Way, Sebastian, FL 32958
      View Details
    • $2,795,000
      70,132 SF

      Riverfront Acres in Sebastian, FL

      1.61 acres, zoned for multifamily, with private dock.
      11450 S Indian River Drive, Sebastian, FL 32958
      View Details
    • $619,000

      Riverfront Homesite in Gated Community

      Expansive homesite with direct river frontage and resort-style amenities.
      9518 Riverside Drive, Sebastian, FL 32958
      View Details
    • $3,495,000
      65,770 SF

      Riverfront Land with Development Potential

      1.5-acre riverfront property suitable for condos, hotel, or estate.
      412 Indian River Drive, Sebastian, FL 32958
      View Details
    • $85,000

      Cleared Lot in Sebastian, FL

      Cleared lot near shopping, restaurants, river, and beach.
      8065 126TH STREET, SEBASTIAN, FL 32958
      View Details
    • $85,000

      Cleared Lot in Sebastian, FL

      Cleared lot near shopping, beaches, and restaurants.
      8065 126TH STREET, SEBASTIAN, FL 32958
      View Details
    • $5,900,000
      29,796 SF

      Sebastian Industrial Manufacturing Facility

      40,000 SF industrial facility on 5.2 acres in Sebastian, FL.
      10045 102nd Terrace, Sebastian, FL 32958
      View Details
    • $69,000

      Oversized Building Lot Available

      0.32 acre building lot in Micco, Sebastian, Florida.
      10th Street, Sebastian, FL 32976
      View Details
    • $750,000

      Indian River Drive Land Opportunity

      Expansive parcel with potential for development or luxury estate.
      13595 N Indian River Drive, Sebastian, FL 32958
      View Details
    • $8,500,000
      21,440 SF

      Industrial Building on 15 Acres

      Industrial building with 1,200 Amps on 15 acres.
      7550 129th Street, Sebastian, FL 32958
      View Details
    • $95,000

      Land Near Sebastian Amenities

      Partially cleared land close to golf, pickleball, and riverfront.
      306 MAIN STREET, SEBASTIAN, FL 32958
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Vacant lot ready for construction in established Sebastian neighborhood.
    Where is this residential land & home lot located?
    The property is located at 949 Riviera Avenue Sebastian, FL.
    What is the asking price?
    The asking price for this property is $89,900.
    What are key features of this property?
    This property features: Cleared vacant lot ready for construction, saving time and money.; Located in the desirable Sebastian Highlands community.; Convenient access to shopping, dining, parks, and schools.
    (301) 266-2757
    We can help!
    Listing Contact
    Heather C Lewis
    Real Estate License ID: 3536149
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    949 Riviera Avenue, Sebastian, FL 32958
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!