2803 Alt Us Hwy 27th S Sebring, FL 33870-4972

Property Details for 2803 Alt Us Hwy 27th S

Year built

1954

Construction

FRAME

Lot size

0.19 lot acres

Property size

2,440 SF

Zone code

C1

Property type

Office buildings

APN

S-32-34-29-070-0030-0261

APU

S32342907000300261

Description

This exceptional investment opportunity presents a combined 42-unit property in Sebring, Florida, encompassing a 17-unit apartment complex and a 25-room motel. Situated on 3.17 acres of C-1 commercially zoned land, this fee-simple offering boasts a total of 18,507 square feet of net rentable space across five buildings. The apartment complex, built in 1952 and renovated in 2022, features two buildings with 9,672 heated square feet, a separate laundry building, and approximately 20 parking spaces. A newer standing seam metal roof (installed within the last three years) adds to its value. The motel, also built in 1952 (effectively 1986), includes 24 guest rooms, a two-bedroom, two-bathroom manager's apartment with a full kitchen and fireplace, and three buildings totaling 8,835 heated square feet. It offers approximately 27 parking spaces. The property enjoys a 90% occupancy rate, generating a strong net operating income (NOI) of $338,352 and an 8.46% cap rate. The asking price is $4,000,000, representing a price per unit of $95,238.10 and a price per square foot of $216.13. The property's location within "The City on The Circle" provides proximity to shopping, dining, golf courses, and Highlands Hammock State Park. The C-1 zoning allows for significant development potential, with an investor report suggesting the possibility of an 80-room mid-level hotel. This turn-key operation offers immediate income and substantial long-term growth potential. The property includes 47 total parking spaces.

Location Insight

City

Sebring

County

Highlands

State

Florida

Longitude

-81.4436

Latitude

27.4739

CBSA code

42700

CBSA name

SEBRING, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments