241 S Commerce Ave Unit 111 Sebring, FL 33870
Property details
About 241 S Commerce Ave Unit 111
This mixed-use commercial/residential building, located right off the Sebring Circle in the heart of downtown Sebring, FL, presents a prime investment opportunity. The property consists of six buildings built between 1949 and 1979, encompassing approximately 8,166 square feet. It includes a total of 19 units, with 15 residential apartments and four retail spaces, but the additional 2 spaces totaling 2,400 square feet give this property so much income potential! The apartments are divided into 13 one-bedroom/one-bath units and two two-bedroom/one-bath units. The retail spaces are currently leased to a tattoo parlor, a massage spa - two spaces totaling 2,400SF are vacant and could be converted into residential or commercial space for more income. The property has undergone significant recent upgrades, including new roofs on two of the buildings in 2020 and the replacement of several HVAC units. The private parking lot was resurfaced in August 2022. Each unit is separately metered for electric and water, and the property is connected to city sewer and water. Additionally, the buildings are arranged around a central courtyard featuring BBQ grills, patio tables, new outdoor umbrellas, and mature landscaping. There is also an onsite coin laundry facility with three washers and three dryers, although some repairs are needed. This property’s prime location offers close proximity to the Highlands County Courthouse, government center, shops, restaurants, and fairgrounds. The area benefits from a good mix of walking and car traffic, with several new businesses recently relocating to the area. Sebring is centrally located in Highlands County, with a population of nearly 11,000. It’s just 1.5 hours from Tampa and Orlando and approximately four hours from Miami. Financially, the property generates $184,200 ($15,350 monthly) in rents with annual operating expenses of $49,297, resulting in a net operating income (NOI) of $134,903. With a cap rate of 8.18% and a purchase price of $1,650,000, this well-maintained property offers a rare chance for an owner/investor to acquire a significant asset in a thriving downtown area. With slight rent increases to market rates and renting of the two vacant 2,400 sf of vacant space CAP rate will go up to 13.23%!
Highlights
(Contingent)
Virtual tour
Summary
- MLS Number: 312697
- MLS Name: HeartlandFL
- Office Name: Future Home Realty, Inc.
- Office Phone: (813) 855-4982
- Office Email: bobmcd@futurehomerealty.com
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/18/2025, 1:15:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$1,650,000
241 S Commerce Ave Unit 111
$10,000
closing credit¹
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0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Feb 27, 2015 | Home Sold | $475,000 |
| Jul 23, 2007 | Home Sold | $1,262,500 |
| Jan 06, 2006 | Home Sold | $775,000 |
| Oct 03, 2003 | Home Sold | $425,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $357,949 | $9,826 |
| 2022 | $300,111 | $7,710 |
| 2021 | $233,037 | $7,710 |
| 2019 | $197,648 | $5,081 |
| 2017 | $190,805 | $5,460 |
History based on county public records data.
Nearby schools
6
Woodlawn Elementary School
Public District PK-5
0.9 mi
•817 Woodlawn Dr
4
Fred Wild Elementary School
Public District PK-5
1.0 mi
•3550 Youth Care Ln
5
Cracker Trail Elementary School
Public District PK-5
5.0 mi
•8200 Sparta Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $30,573. The most common annual income of people living in Sebring, FL is less than $<35k. Most families are single, no kids. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Figure Skating
Pro Wrestling
NASCAR
Where do the neighbors shop?
Stein Mart
Kmart
Wal-Mart
Where do the neighbors go to eat?
Bob Evans
Sonic
Dominos Pizza
What do the neighbors drive?
Buick
Oldsmobile
Ford
What do the neighbors listen to?
Adult Standards
Oldies- Contemporary Inspirational
Frequently asked questions
About 241 S Commerce Ave Unit 111
This home is located at 241 S Commerce Ave Unit 111 in Sebring, FL and zip code 33870. Features: 17 bedrooms, 20 bathrooms. It has been listed on Rocket Homes since February 25, 2025 and is currently priced at $1,650,000.
While more than 10 listings in Sebring, FL in March 2025 were sold above asking price, there were more than 38 listings sold at asking price, and more than 58 were sold below. The number of homes for sale in Sebring, FL increased by 7.1% between February and March 2025. While the average time on the market in March 2025 was 76 days, the median list price was $269,997.