Fully Occupied Office
For Sale
$1,050,000
Pending
989 Sebastian Boulevard, Sebastian, FL 32958
Office building with three suites and excellent rental history.
Property Size5,062 SF
Lot Size0.61 Acres
Days on Market781
Property Features for 989 Sebastian Boulevard
General Information
Standard status
Pending
Size
5,062 SF
Lot size
0.61 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
2001
Listing Agency:
Dale Sorensen Real Estate Inc.
(772) 231-4712
Listed By:
Carl Robert Sciara · License #0704862
(772) 538-0804
Source:
Exitrealty
Added: Sep 10, 2024
Changed: Oct 25
Last Checked: Oct 28 at 5:58AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is an opportunity to purchase a fully occupied office building with a rental history. The property consists of three separate office/medical suites. It is located on Sebastian's main East/West Artery, providing direct access to I-95 and US Highway 1. The property is currently occupied by three tenants. Two of the suites are 1,250 square feet each, and the third suite is 2,500 square feet. The total property size is 5,062 square feet. Once space is available, buyers can use it or lease it for income.
Key Highlights
- Fully occupied office building with excellent rental history.
- Three separate office/medical suites.
- Prime location on Sebastian's main East/West artery with direct access to I‑95 and US Highway 1.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,168
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,083,360
$1.1M
Cap Rate 7%
$773,829
$773.8K
Cap Rate 9%
$601,867
$601.9K
Market Conditions
NOI Build-Up for 5,062 SF
Gross rent
$88.1K $17.40/SF
− Vacancy
−$15.9K −$3.13/SF
EGI
$72.2K $14.27/SF
− OpEx
−$18.1K −$3.57/SF
NOI
$54.2K $10.70/SF
Area
Indian River County, FL
Vacancy
18.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,083,360
Cap Rate 7%
$773,829
Cap Rate 9%
$601,867
Alternative Uses
Best Use
Office B
$773.8K
$677.1K – $902.8K
NOI $54,168 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.11M
$971.4K – $1.30M
NOI $77,708 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
221
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office building with three suites and excellent rental history.
Where is this office building located?
The property is located at 989 Sebastian Boulevard Sebastian, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fully occupied office building with excellent rental history.; Three separate office/medical suites.; Prime location on Sebastian's main East/West artery with direct access to I‑95 and US Highway 1.
