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Listed by Gregory Karlson • ADVANTAGE REALTY #1

$ 4,500,000

Est. payment | -/mo

42 Beds

42 Baths

2.95 Acres Lot

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$ 4,500,000

Est. payment | -/mo

Save Virtual Tour

42 Beds

42 Baths

2.95 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID 327097

Style One Story,Two Story

Bedrooms 42

Full Baths 42

Construction Status Average Condition,Resale

HOA Y/N No

Year Built 1972

Annual Tax Amount $20,634

Tax Year 2025

Lot Size 2.950 Acres

Acres 2.95

Property Sub-Type Apartment

Property Description

RARE SEBRING INVESTMENT/REDEVELOPMENT OPPORTUNITY! Former Sunset Beach Motel at US 27 & Lakeview Dr offers 42 units on 3± acres at a highly visible hard corner with 297± FT of frontage on beautiful Lake Jackson. Surrounded by major retailers/services including Publix, Bealls Outlet, Popeyes, Verizon & CVS. Existing improvements & infrastructure provide tremendous value as construction, utility & development costs continue to rise. Renovate/stabilize the 42 units for income while positioning this prime site for future redevelopment. Owner pro forma based on $800/unit/mo, 10% vacancy & 35% expenses projects $235,872 NOI. One building has a newer metal roof; additional updating needed. Exceptional potential for upscale hotel/resort, timeshare, lakefront restaurant, retail or mixed commercial redevelopment, subject to approvals. Sebring continues expanding with new residential, industrial & national brands including BJ's Wholesale, First Watch, Wawa & Culver's, driving demand for lodging, retail & services. Secure this irreplaceable lakefront commercial site while existing improvements offer holding-income potential. BUY THE LOCATION, IMPROVE THE INCOME & POSITION FOR THE FUTURE! Buyer to verify zoning, uses, measurements & financials.

Location

State FL

County Highlands

Area 5314.500

Interior

Heating Wall Furnace

Cooling Wall Unit(s)

Flooring Carpet, Other

Fireplace No

Exterior

Pool None

View Y/N Yes

Water Access Desc Public

View Lake

Roof Type Metal

Building

Entry Level One,Two

Sewer Public Sewer

Water Public

Architectural Style One Story, Two Story

Level or Stories One, Two

Construction Status Average Condition,Resale

Others

Tax ID S-32-34-29-070-0030-0390

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/heartland/327097

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1001 Lakeview DR Sebring, FL 33870