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Property profile & analytics
FOR SALE
Office buildings
989 Sebastian Blvd, Sebastian, FL 32958
Entity Owned
4-yr Hold
Free & Clear
Property ID
US19-0614961
For Sale
1 / 25
$1,050,000
989 Sebastian Blvd, Sebastian, FL 32958
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Property summary
AI-generated overview
This exceptional 5,062 square foot office building presents a rare investment opportunity in Sebastian, Florida. Strategically located on Sebastian Boulevard, a major east-west artery, this property enjoys excellent visibility and convenient access to both I-95 and US Highway 1, ensuring high traffic flow and accessibility for tenants and clients. The building comprises three separate office/medical suites, each designed for optimal functionality. Two suites measure 1,250 square feet each, while the third offers a more substantial 2,500 square feet. Currently, all three suites are fully occupied by long-term tenants, providing a stable and predictable income stream with a proven rental history. Once a lease expires, the space becomes available for the buyer's own use or for continued leasing to generate rental income. The 0.61-acre lot provides ample space and parking. This turnkey operation offers a compelling investment opportunity with the added benefit of potential owner financing. Note that all square footages are approximate and subject to verification. A Non-Disclosure Agreement is required for access to detailed financial information.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,062 SF
Lot
0.61 ac (26,572 SF)
Zoning code
C-512
APN
31-38-13-00002-1850-00001.0
UPID
US19-0614961
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
Current use
Occupant on record · Public records
-
American Security Council Foundation Charitable Organization Social Service Agency
-
Center for Pain Treatment: Ronald Stern, MD Physician
-
Sharon Taranto Physician
-
Anthony Romano Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$890k
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.08M
Owner & transaction history
Somerset Commercial Property LLC · 4 yrs held
Somerset Commercial Property LLC
since 2022
Last sale
$1.0M
5 recorded transactions
Zoning & alternative use
C-512 · Sebastian, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.6M
+39.9%
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 Sebastian submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sebastian 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
by Request
CAP Approach
CAP Return
Estimation
6%
$965,000
6.5%
$890,000
7%
$825,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,145,000
Current use
INDUSTRIAL (GENERAL)
$1,600,000
Change: +40% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,100,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$1,075,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±10% · vs last sale $1.00M (Dec 31 2025)
Last sale anchor
$1.00M
Dec 31 2025
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
$212 / 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
Tax billed
$9,562
Tax year 2023
Assessed value
$516,248
Assessed 2023
Previous assessed
$517,771
-0.3% YoY
Effective rate
1.85%
On assessed value
Assessed land
$124,220
Assessed improvement
$392,028
Land market value
$124,220
Improvement market value
$392,028
Total market value
$516,248
Applied tax rate
2.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
3
Total area
5,062 SF
Lot
0.61 ac (26,572 SF)
Zoning code
C-512
APN
31-38-13-00002-1850-00001.0
UPID
US19-0614961
Jurisdiction
INDIAN RIVER
Zoning & alternative use
C-512 · Sebastian, FL
Zoning C-512 · permitted uses
C-512 · Sebastian, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sebastian. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
3
Lot
0.61 ac
Current owner
From public records · entity-resolved
Somerset Commercial Property LLC
Entity
Free & Clear · 4 yrs held
Mailing address
112 ESTUARY DR, VERO BEACH, FL 32963-3869
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2022
—
Somerset Commercial Property LLC
Janet G Midkiff
Warranty Deed
—
Mar 6, 2007
$1,000,000
Janet G Midkiff
Indian River Investments Of Ctrl Fl
Warranty Deed
$600,000 · Northern Trust NA
Nov 17, 2004
$1,360,000
Indian Riv Investments Of Ctrl Fl
Han Shan Ents INC
Warranty Deed
—
Jan 24, 2000
$15,000
Han Shan Enterprises INC
Hibler,annette & Richard
Grant Deed
—
Mar 18, 1999
$12,500
Hibler,annette & Richard
Hurowitz,julie L
Trustees 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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