Seller's Agent in 2025
Tara Jefferies
Future Home Realty, Inc.
(863) 632-3266
25 in this area
87 Total Sales
241 S Commerce Ave Unit 111 Sebring, FL 33870
17
Beds
20
Baths
5,809
Sq Ft
0.45
Acres
Highlights
- No HOA
- Central Heating and Cooling System
- 3-minute walk to Circle Park
- Tile Flooring
- Ceiling Fan
About This Home
As of May 2025This 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%!
Last Agent to Sell the Property
Future Home Realty, Inc. License #3515642 Listed on: 02/25/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,827
Year Built
- Built in 1949
Lot Details
- 0.45 Acre Lot
- Additional Parcels
Home Design
- Brick Exterior Construction
- Metal Roof
- Concrete Siding
- Block Exterior
Interior Spaces
- 2-Story Property
- Ceiling Fan
- Blinds
Kitchen
- Oven
- Range
Flooring
- Tile
- Vinyl
Bedrooms and Bathrooms
- 17 Bedrooms
Laundry
- Dryer
- Washer
Parking
- Driveway
- On-Street Parking
Utilities
- Central Heating and Cooling System
Listing and Financial Details
- Assessor Parcel Number S-29-34-29-070-0640-0020
Community Details
Overview
- No Home Owners Association
- 19 Units
Building Details
- Gross Income $184,200
- Net Operating Income $134,903
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 25, 2025
Closed on
May 15, 2025
Sold by
M L Cook Rental Inc and M L Cook Rentals
Bought by
Brackline Llc
Seller's Agent
Tara Jefferies
Future Home Realty, Inc.
Buyer's Agent
William Dibble
RE/MAX REALTY PLUS
List Price
$1,650,000
Sold Price
$1,299,000
Premium/Discount to List
-$351,000
-21.27%
Views
27
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$189,089
Avg. Annual Appreciation
-21.50%
Original Mortgage
$720,000
Outstanding Balance
$658,246
Interest Rate
6.64%
Mortgage Type
New Conventional
Estimated Equity
$451,665
Purchase Details
Closed on
Jun 22, 2022
Sold by
A & M Properties Of Lake Placid Inc
Bought by
Ml Cook Rentals
Purchase Details
Closed on
Feb 1, 2015
Sold by
Sebring 1 Llc
Bought by
A & M Properties Of Lake Placid Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$475,000
Interest Rate
3.74%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Jul 20, 2007
Sold by
Sebring Commerce Llc
Bought by
Sebring Llc
Purchase Details
Closed on
Dec 30, 2005
Sold by
Florida Oasis Rentals Llc
Bought by
Sebring Commerce Llc and Sebring Pine Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$620,000
Interest Rate
6.19%
Mortgage Type
Purchase Money Mortgage
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,299,000 | None Listed On Document | |
| Quit Claim Deed | $530,000 | None Listed On Document | |
| Warranty Deed | $475,000 | Attorney | |
| Warranty Deed | $1,262,500 | Attorney | |
| Corporate Deed | $775,000 | C & C Title Services Llc |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $720,000 | New Conventional | |
| Previous Owner | $475,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $620,000 | Purchase Money Mortgage |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/15/2025 05/15/25 | Sold | $1,299,000 | -21.3% | $224 / Sq Ft |
| 04/15/2025 04/15/25 | Pending | -- | -- | -- |
| 02/25/2025 02/25/25 | For Sale | $1,650,000 | 0.0% | $284 / Sq Ft |
| 08/16/2024 08/16/24 | Rented | $975 | 0.0% | -- |
| 07/31/2024 07/31/24 | For Rent | $975 | +8.3% | -- |
| 09/26/2023 09/26/23 | Rented | $900 | 0.0% | -- |
| 09/25/2023 09/25/23 | For Rent | $900 | 0.0% | -- |
| 09/20/2023 09/20/23 | Rented | $900 | 0.0% | -- |
| 09/14/2023 09/14/23 | Price Changed | $900 | -10.0% | $1 / Sq Ft |
| 09/08/2023 09/08/23 | For Rent | $1,000 | -- | -- |
Source: Heartland Association of REALTORS®
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $10,000 | $355,710 | $25,000 | $330,710 |
| 2024 | $9,827 | $362,255 | $25,000 | $337,255 |
| 2023 | $9,827 | $357,949 | $25,000 | $332,949 |
| 2022 | $7,711 | $300,111 | $25,000 | $275,111 |
| 2021 | $7,019 | $233,037 | $25,000 | $208,037 |
| 2020 | $6,240 | $214,719 | $0 | $0 |
| 2019 | $5,082 | $197,648 | $0 | $0 |
| 2018 | $5,723 | $193,832 | $0 | $0 |
| 2017 | $5,461 | $190,805 | $0 | $0 |
| 2016 | $5,033 | $162,308 | $0 | $0 |
| 2015 | $5,860 | $201,881 | $0 | $0 |
| 2014 | $5,760 | $0 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Tara Jefferies
-
Cullen Wheeler
C
Seller Co-Listing Agent in 2025
Cullen Wheeler
Future Home Realty, Inc.
48 in this area
148 Total Sales
-
William Dibble
Buyer's Agent in 2025
William Dibble
RE/MAX
(863) 273-4978
53 in this area
120 Total Sales
-
Heather Carter
H
Seller's Agent in 2024
Heather Carter
Central Florida Property Management, LLC
(863) 214-5016
Map
Source: Heartland Association of REALTORS®
MLS Number: 312697
APN: S-29-34-29-070-0640-0020
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