$1,775,000
Sebastian, FL 32958
MLS# 949261
Status: Closed
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Property Description
Riverfront Commercial Center in Sebastian offering 9,640 SF on 1.37 acres. 11% CAP Rate potential! Currently split into 3 spaces previously used for medical - zoned commercial. 223 ft of frontage on US-1 w 22,000 vehicles passing daily. Indian River Dr frontage w additional access, 60 parking spaces, ADA compliant, solid CBS construction w metal roof, storm protection & more!
Details
Maps
Location, Tax, and Legal
Tax Account: Irc
Parcel Number: 31390600003000000004.0
General County Location: Central
Tax Annual Amount: 25373
Tax Year: 2022
Tax Legal Description: HARDEES SUBDIVISION NO. B PBS 4-74 BEING MORE PART DESC AS FOLL THAT TR OR PARC OF LAND BOUNDED ON THE S BY A LINE 200 F
Directions: Fronting on US-1 and Indian River Drive, between Wells Fargo Bank & Earl's Hideaway.
General Property Information
Number Of Units Total: 3
Stories Total: 1
Building Area Total: 9600
Lot Size Acres: 1.37
Association YN: No
Property Use: C-PROFESSIONAL BUILDING - SINGLE TENANT - 1 STORY (1900)
Water Body Access YN: No
Waterfront YN: Yes
Water Body Name: Indian River
Use Code: 19 / PROFESSIONAL BUILDING
List Price/SqFt: 207.81
Sold Price/SqFt: 184.9
Year Built: 1997
Remarks and Miscellaneous
Public Remarks: Riverfront Commercial Center in Sebastian offering 9,640 SF on 1.37 acres. 11% CAP Rate potential! Currently split into 3 spaces previously used for medical - zoned commercial. 223 ft of frontage on US-1 w 22,000 vehicles passing daily. Indian River Dr frontage w additional access, 60 parking spaces, ADA compliant, solid CBS construction w metal roof, storm protection & more!
Construction Materials
Block: 1
Concrete: 1
Cooling
Central Air: 1
Electric: 1
Current Use
Commercial: 1
Flooring
Carpet: 1
Tile: 1
Vinyl: 1
Heating
Central: 1
Electric: 1
Listing Terms
Cash: 1
Conventional: 1
Lease Option: 1
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Income and Expenses
Gross Scheduled Income: 288049
Net Operating Income: 222596
Roof
Metal: 1
Security Features
Smoke Detector(s): 1
Sewer
Public Sewer: 1
Special Listing Conditions
Presently Leased: 1
Water Source
Public: 1
Waterfront Features
River Front: 1
Showing Requirements
Call Listing Agent: 1
Building Features
Clear Ceiling Height: 9600
Loading Dock: 1
Lobby: 1
Private Restroom: 1
Public Restroom: 1
Reception Area: 1
Separate Office Area: 1
Sale Includes
Building & Land: 1
Historical Information
Public Historical Remarks 3: Legal/Misc-Home Warranty: No
Contract Information
Current Price: $1,775,000
Original List Price: 1995000
Sold Price: $1,775,000
Status: Closed
Listing Contract Date: 2022-10-24
Property Sub Type: Business
Location Tax and Legal
Street Number: 1424
Street Name: Us-1
County: Indian River
State: FL
Postal Code: 32958
MLS Area Major: 904 - Indian River
Status Change Information
Major Change Timestamp: 2023-03-17T18:29:50Z
Major Change Type: Status Change
Status Change Timestamp: 2023-03-17
Purchase Contract Date: 2022-11-22
Close Date: 2022-12-22
Close Price: 1775000
Property Features
Building Features: Loading Dock; Lobby; Private Restroom; Public Restroom; Reception Area; Separate Office Area
Construction Materials: Block; Concrete
Cooling: Central Air; Electric
Current Use: Commercial
Flooring: Carpet; Tile; Vinyl
Heating: Central; Electric
Listing Terms: Cash; Conventional; Lease Option
Possession: Close Of Escrow; Subject To Tenant Rights
Roof: Metal
Sale Includes: Building & Land
Security Features: Smoke Detector(s)
Sewer: Public Sewer
Showing Requirements: Call Listing Agent
Special Listing Conditions: Presently Leased
Water Source: Public
Waterfront Features: River Front
Listing Office: Ron Rennick Auctions, Inc.
Last Updated: November - 11 - 2025
Information is deemed to be reliable, but is not guaranteed.