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    624 Duane Palmer Blvd Sebring, FL 33876

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    624 Duane Palmer Blvd Sebring, FL 33876

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    • Retirement homes
    • 13.12 lot acres
    Off-Market
    Property ID
    US18-4159054
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retirement homes

    Property Details for 624 Duane Palmer Blvd

    Lot size
    13.12 lot acres
    Property type
    Retirement homes
    Property subtype
    Assisted living facilities

    Description

    This exceptional 13.115-acre parcel in Sebring, Florida, presents a unique opportunity to develop a 160-unit senior living campus. Located at the main entrance to the Spring Lake master development and the renovated Sebring International Golf Resort, this highly desirable site boasts existing approvals for a diverse range of senior living options, including villas, independent living apartments, assisted living, and memory care facilities. The 160 units can be configured for up to 320 beds, offering flexibility in design and unit mix to meet market demands. Conceptual designs are available to explore various development options. The Spring Lake Improvement District has invested over $16 million in infrastructure upgrades in the past six years, including a new wastewater treatment plant, sewer mains, an upgraded pump station, and the award-winning Eco Park. These improvements, along with the absence of impact fees and a developer-friendly environment, create a compelling investment opportunity. Sebring's strategic location in central Florida, coupled with its recreational amenities and small-town charm, further enhances the appeal of this prime development site. The property's proximity to US Hwy 98 and the Sebring International Golf Course ensures high visibility and accessibility. This is a rare chance to capitalize on the significant demand for senior housing in a thriving community with robust infrastructure and a supportive local government. The site is situated within the Spring Lake Improvement District, which provides essential services such as water management, road maintenance, and recreational amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sebring
    County
    Highlands
    State
    Florida
    Longitude
    -81.323485867547
    Latitude
    27.436945665272

    Comparable in this City

    • $1,199,000
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      Farm/Estate Investment Opportunity

      5-acre estate near Lake Istokpoga with income potential.
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    • $191,000

      Commercial Corner Lot on US-98

      2.23-acre commercial corner lot, B2 zoning, no wetlands.
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      Vacant Land Available For Sale

      Vacant land available for sale in Sebring, Florida.
      6104 Oak Brook Ave, Sebring, FL 33876
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    • $54,900
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      Residential Land Ready to Build

      0.6 acre residential lot ready for construction in Sebring.
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      Vacant Land in Sebring, Florida

      Vacant land available in Sebring, Florida.
      6101 Oak Ridge Ave, Sebring, FL 33876
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    Similar Nearby for Sale

    • $1,199,000
      5.00 Acres

      Farm/Estate Investment Opportunity

      5-acre estate near Lake Istokpoga with income potential.
      3675 Us Highway 98, Sebring, FL 33876
      View Details
    • $191,000

      Commercial Corner Lot on US-98

      2.23-acre commercial corner lot, B2 zoning, no wetlands.
      12909 Us Highway 98, Sebring, FL 33876
      View Details
    • Contact for pricing

      Vacant Land Available For Sale

      Vacant land available for sale in Sebring, Florida.
      6104 Oak Brook Ave, Sebring, FL 33876
      View Details
    • $54,900
      0.60 Acres

      Residential Land Ready to Build

      0.6 acre residential lot ready for construction in Sebring.
      6333 Bayhill Ln, Sebring, FL 33876
      View Details
    • Contact for pricing

      Vacant Land in Sebring, Florida

      Vacant land available in Sebring, Florida.
      6101 Oak Ridge Ave, Sebring, FL 33876
      View Details
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    Sebring, FL 33876
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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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