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Backup Offers

241 S Commerce Ave Unit 111, Sebring, FL, 33870

$1,900,000

Home List Price

$10,000*

Closing Credit

17 Bedrooms
15 Full Baths, 5 Partial
Condo

Location

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241 S Commerce Ave Unit 111, Sebring$1,900,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingDriveway, On Street
Year Built1949
HeatingCentral, Electric
CoolingCentral Air, Electric
MLS #308328
Lot Size0.45 Acres
StatusAccepting Backup Offers
(Contingent)

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. 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 a gross income of $183,900 with annual operating expenses of $36,413, resulting in a net operating income (NOI) of $147,487. With a cap rate of 7.8% and a purchase price of $1,900,000, this well-maintained property offers a rare chance for an owner/investor to acquire a significant asset in a thriving downtown area.

Property Details

Property Features

Property Information:

  • Architectural Style: Two Story
  • Year Built: 1949
  • Stories: 2

Listing Office:

  • Office Name: Future Home Realty, Inc.
  • Office Phone: (813) 855-4982

Interior Features

Interior Information:

  • Flooring Type: Tile, Vinyl

Bedroom and Bathroom Information:

  • Partial Bathrooms: 5
  • Full Bathrooms: 15
  • Total Bedroom Count: 17

Exterior Features

Parking Information:

  • Parking: Driveway, On Street

Virtual/3D Tour

  • Virtual Tour: 241 S Commerce Ave Unit 111
Virtual Tour

Lot Features

Lot Information:

  • Lot Size: 0.45 Acres

Utilities

Utilities Information:

  • Heating: Central, Electric
  • Cooling: Central Air, Electric

Other

Directions Information:

  • Directions: From US-98 & Lakeview Dr, Sebring, FL 33870 Head north on Lakeview Dr toward Flare Rd 5.6 mi Turn left onto W Center Ave 0.1 mi At Circle Park Dr, take the 2nd exit onto S

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,900,000

Tax Information:

  • Annual Amount: $6,240
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Sebring, FL.

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Sebring, FL

City

Med. Sold Price

$269.2K

Med. Price/SqFt

$174

Avg. Days On Market

70

# of Sold Homes

101

241 S Commerce Ave Unit 111 vs Sebring

7 DAYS ON ROCKET

-63 Days

$1,900,000

+$1.6M More

KEY TAKEAWAY

This property is $1.6M more than the Median Sold Price in Sebring, FL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: HeartlandFL
  • MLS Number: #308328

Listing Office:

  • Office Name: Future Home Realty, Inc.
  • Office Phone: (813) 855-4982

Broker Reciprocity The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the multiple listing service (MLS) in which this real estate firm (Broker) participates. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than this Broker are marked with a Broker Reciprocity logo provided. Detailed information about such properties includes the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Florida Association of Realtors and its cooperating MLSs do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Copyright 2024 Highlands Association of Realtors. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/4/2024, 9:15:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Feb 27, 2015Home Sold
$475,000
Jan 06, 2006Home Sold
$775,000
Oct 03, 2003Home Sold
$425,000

Tax History

YEARPROP. TAXASSESSMENT
2020$6,240$214,719
2019$5,081$197,648
2017$5,461$190,805

History based on county public records data.

Payment Calculator

$9,550

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$5,763

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-163365
5
/10

  • Woodlawn Elementary School

  • 817 Woodlawn Dr

  • 0.93 miles

  • Public District Grades PK-5

school-card-donut-163366
2
/10

  • Fred Wild Elementary School

  • 3550 Youth Care Ln

  • 0.98 miles

  • Public District Grades PK-5

school-card-donut-163367
6
/10

  • Cracker Trail Elementary School

  • 8200 Sparta Rd

  • 5.00 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $30,573. The majority of Sebring, FL residents have income less than $35k annually. Typical family type is single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 241 S Commerce Ave Unit 111

What is the listing price of this property?

The listing price of 241 S Commerce Ave Unit 111 property is $1,900,000.

What type of property is this?

The property 241 S Commerce Ave Unit 111 is a condo located in Sebring, Florida, 33870.

Is this property for sale now?

Accepting Backup Offers: 241 S Commerce Ave Unit 111 is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.

What is the annual property tax for this property?

According to the records, the last property tax for 2020 is $6,240 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on February 27, 2015 for $475,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 241 S Commerce Ave Unit 111 has 17 bedrooms and 15 full and 5 half bathrooms.

Which year was this property built?

The year of construction for 241 S Commerce Ave Unit 111 is 1949.

Rocket Homes›Florida›Highlands County›Sebring›33870›241 S Commerce Ave Unit 111

This home is located at 241 S Commerce Ave Unit 111 in Sebring, FL and zip code 33870. This home, which was built in 1949, sits on a 0.45 acre lot. Features: 17 bedrooms, 20 bathrooms. It has been listed on Rocket Homes since November 27, 2024 and is currently priced at $1,900,000.

While more than 9 listings in Sebring, FL in November 2024 were sold above asking price, there were more than 36 listings sold at asking price, and more than 53 were sold below. The number of listings in Sebring, FL increased by 1.9% between October 2024 and November 2024. Listings spent 70 days on the market in November 2024, and had a median list price of $269,227 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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