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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Banks
228 Ridgewood Dr Sebring, FL 33870-7203
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-5535851
Property summary
AI-generated overview
This exceptional three-story, 21,434 square foot retail building, located at 228 N Ridgewood Dr in Sebring, Florida, presents a unique investment opportunity. Built in 1973, the Class C property features a distinctive C-shaped design and a striking three-story atrium, flooded with natural light from floor-to-ceiling windows. Currently, three suites are available, ranging from 5,000 to 7,500 square feet, with a total of 20,000 square feet of vacant space. Situated in Highlands County, this property offers high visibility and accessibility in a thriving community. The building's unique architectural design, combined with its ample space and prime location, makes it an ideal choice for a variety of retail businesses seeking a memorable and functional space. The property's address is 228 N Ridgewood Dr, Sebring, FL 33870. This is a multiple tenancy property offering significant potential for growth and return on investment. The building's unique design and spacious layout provide a flexible environment suitable for a range of retail concepts. Don't miss this chance to acquire a distinctive retail property in a desirable Florida location.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1973
Construction
FRAME
Total area
19,514 SF
Lot
0.77 ac (33,750 SF)
Zoning code
C1
APN
S-29-34-29-070-0490-0010
UPID
US18-5535851
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$960k
Owner & transaction history
228 N Ridgewood Dr LLC · 2 yrs held
228 N Ridgewood Dr LLC
since 2024
3 recorded transactions
Zoning & alternative use
C1 · Sebring, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sebring submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sebring submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$49 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$473,472
Assessed 2023
Previous assessed
$443,489
+6.8% YoY
Assessed land
$154,800
Assessed improvement
$318,672
Land market value
$154,800
Improvement market value
$318,672
Total market value
$473,472
Applied tax rate
20.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1973
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Stories
3
Rooms
5
Bathrooms
5
Total area
19,514 SF
Lot
0.77 ac (33,750 SF)
Zoning code
C1
APN
S-29-34-29-070-0490-0010
UPID
US18-5535851
Jurisdiction
HIGHLANDS
Zoning & alternative use
C1 · Sebring, FL
Zoning C1 · permitted uses
C1 · Sebring, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sebring. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1973
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Rooms
5
Bathrooms
5
Lot
0.77 ac
Current owner
From public records · entity-resolved
228 N Ridgewood Dr LLC
Entity
Free & Clear · 2 yrs held
Mailing address
945 38TH AVE N, SAINT PETERSBURG, FL 33704-1135
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2024
—
228 N Ridgewood Dr LLC
Sebring Community Redevelopment Age
Warranty Deed
—
Feb 15, 2019
$325,000
Sebring Cmnty Redev Agcy
Wac Sebring Fl LLC
Grant Deed
—
Nov 21, 2013
—
Wac Sebring Fl LLC
Sebring Associates
Quit Claim Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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