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    231 Ridgewood Dr Sebring, FL 33870-3340
    Property profile & analytics

    231 Ridgewood Dr, Sebring, FL 33870-3340

    View on Map
    • Office buildings
    • 15,476 SF
    • 0.09 lot acres
    Off-Market
    Last Sale Jul 1, 2024
    $1,200,000
    Property ID
    US18-3804274
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,200,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Downtown Mall & Marketplace / Shopping Center & Mall
    • Dixion's Baubles & Beeds Jewelry / Shopping Center & Mall

    Property Details for 231 Ridgewood Dr

    Year built
    1961
    Construction
    FRAME
    Lot size
    0.09 lot acres
    Zone code
    C1
    Property type
    Office buildings
    APN
    S-29-34-29-070-0620-0120
    APU
    S29342907006200120

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 1, 2024 $1,200,000 Sebring Community Redevelopment Age Downtown Mall LLC Warranty Deed —
    Dec 28, 2017 — Downtown Mall LLC Tellschow,michael A Warranty Deed —
    Jul 26, 2017 $495,000 Michael A Tellschow Sebring Flea Market LLC Warranty Deed —
    Oct 3, 2014 $300,000 Sebring Flea Market LLC Bayview Loan Servicing LLC Special Warranty Deed $396k · Highlands Independent Bank
    Mar 7, 2013 $2,004,900 Bayview Ln Svcg LLC S Ridgewood LLC Warranty Deed —
    Jan 9, 2006 $1,205,000 S Ridgewood LLC First States Invtrs 5000a LLC Grant Deed $1.2M · Allied Mortgage & Financial Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,200,000
      ML approach
      $1,200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,359,000
      Market price range: $1.36M - $3.04M
      AI Estimate
      $1,274,000
      Market price range: $1.27M - $3.37M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sebring
    County
    Highlands
    State
    Florida
    Longitude
    -81.4421
    Latitude
    27.494
    CBSA code
    42700
    CBSA name
    SEBRING, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,346
    $131,375
    $241,843
    $373,218
    -
    $131,375
    $241,843
    $373,218

    Comparable in this City

    • Value Estimation
      $4,695,000
      28,360 SF

      5901 Us Hwy 27th S

      OFFICE BUILDING (MULTI-STORY)
      5901 Us Hwy 27th S, Sebring, FL 33870-2117
      View Details
    • Value Estimation
      $615,000
      3,345 SF

      611 Us Hwy 27th S

      OFFICE BUILDING (MULTI-STORY)
      611 Us Hwy 27th S, Sebring, FL 33870-2168
      View Details
    • Value Estimation
      $780,000
      4,026 SF

      1 Ulmann Dr

      OFFICE BUILDING (MULTI-STORY)
      1 Ulmann Dr, Sebring, FL 33870-7568
      View Details
    • Value Estimation by Request
      1,104 SF

      125 Ctr Ave

      PROFESSIONAL BUILDING
      125 Ctr Ave, Sebring, FL 33870-3104
      View Details
    • Value Estimation
      $1,790,000
      9,225 SF

      7441 Us Hwy 27th N, Unit 11

      OFFICE BUILDING (MULTI-STORY)
      7441 Us Hwy 27th N, Sebring, FL 33870-1030
      View Details
    • Value Estimation by Request
      1,259 SF

      618 Commerce Ave

      OFFICE BUILDING
      618 Commerce Ave, Sebring, FL 33870-3809
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,350 SF

      Medical/Office Building Near HCA Hospital

      Free-standing medical/office building near HCA Hospital with national tenant.
      3315-3345 Medical Hill Rd, Sebring, FL 33870
      View Details
    • Contact for pricing

      Regional Mall in Sebring, Florida

      489,000 SF regional mall with retail, food, and entertainment.
      901 U.S U S Highway 27 N, Sebring, FL 33870
      View Details
    • Contact for pricing

      Sebring Office Building For Sale

      Office building available for purchase in Sebring, Florida.
      740 Sebring Square Aly, Sebring, FL 33870
      View Details
    • Contact for pricing
      8,568 SF

      Sebring Medical Office Opportunity

      Strategically located medical office space in Sebring, Florida for sale.
      3205 Physicians Way, Sebring, FL 33870
      View Details
    • $399,000
      2,886 SF

      Sebring Commercial Building For Sale

      Commercial building in downtown Sebring, an excellent investment opportunity.
      343 S Commerce Ave, Sebring, FL 33870
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Regional Mall in Sebring, Florida

      489,000 SF regional mall with shopping, food, and entertainment.
      901 U.S U S Highway 27 N, Sebring, FL 33870
      View Details
    • $7,083 /Mo
      67,082 SF

      Prime Commercial Parcel on US-27

      1.54-acre commercial parcel with high visibility on US-27.
      2040 U S Highway 27 N, Sebring, FL 33870
      View Details
    • $1,250 /Mo
      12,350 SF

      Sebring, FL Commercial Space

      Professional and Medical office space for various purposes.
      3327 Medical Hill Rd, Sebring, FL 33870
      View Details
    • Contact for pricing

      Move-in Ready Medical Office Space

      Medical office space for lease in Sebring's healthcare corridor.
      3324 Commerce Center Ln, Sebring, FL 33870
      View Details
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    Sebring, FL 33870-3340
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    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
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