Sebring Plaza
Closed2940 US Hwy 27 N, Sebring, FL 33870
Property type
Retail
Price
$2,533,500
Building size
24,300 sf
Rentable area
24,300 SF
Year built
1986
Year renovated
Occupancy
Zoning code
Lot size
4.99 Acres
Sold/status
Sold · Date unknown
Sale price
$2533500
CAP
8.08%
Net Operating Income
$204,681
Property description
Franklin Street is pleased to present Sebring Plaza located in Sebring, Highlands County, Florida. Sebring is in the center of the Sunshine State, Highlands County’s inland location provides quick connectivity to Florida’s metro markets with ample room for growth. Highlands County has a growing population of over 100,000 residents in 2010 and is projected to grow by more than 11 percent by 2020 to over 111,000. Highlands’ ideal climate and amenities make it a popular seasonal destination attracting about 20 percent more people to the county in season. Along with this, about 2,400 people commute in to the community each day for work with even more people coming for groceries, dining, shopping, and health care. The property sits along the main thoroughfare for the region, Highway 27, which runs North/South through Sebring. Sebring Plaza has cross access to Sebring Square, a 175,000 SF regional center with national tenants such as Winn-Dixie, Goodwill, Pet Supermarket, Verizon, McDonald's, and others. Sebring Plaza has recently undergone several capital improvements including a new roof over 13,500 SF of the center and façade upgrades throughout the property.
Property highlights
- 24,300 SF strip center in Central Florida
- Excellent Visibility along Highway 27: 39,000 VPD
- Cross access with Winn-Dixie-anchored shopping center
- Tenured rent roll: 13.8 weighted average lease term by tenants in their spaces
- Surrounded by other national big box traffic generating retailers including: Walmart, Lowe's, Home Depot, Winn-Dixie, and Publix
- Florida's population continues to grow due to no state income taxes and job growth
- Recent property upgrades include: Roof, facade upgrades, painting
- 100% leased with strong mixture of local and national tenants including: Beef O'Bradys, Rent-A-Center, and Sweet Frog