Tuesday, Sep 02, 2014
Local News

Sebring has many large properties up for sale


Published:

SEBRING - For those interested in buying commercial buildings, Sebring has no shortage of opportunities.

Those include the Lakeshore Mall, former hotels, former banks and prime real estate that could one day be developed.

Many of those businesses can be found on www.loopnet.com, which is also the site the city of Sebring has used to list Harder Hall, a former golf resort that has been vacant for years. The selling price for Harder Hall is $4.5 million.

One of the largest properties listed on the site is the Lakeshore Mall, which is owned by CBL & Associates Properties of Chattanooga, Tenn. Efforts to reach someone for comment at CBL were unsuccessful. Margaret Jones of Jones Lang LaSalle, the firm handling the sale, confirmed the property is for sale, but declined to release any other information.

Another well-known property for sale is the historic Nan-ces-o-wee Hotel, built by George Sebring, the founder of the city.

For years the hotel has remained vacant, but real estate agent Madge Stewart is confident that she can sell it.

She said she's received offers, but they were too low. The asking price is $499,000.

"I do anticipate selling it by the end of the year," Stewart said.

Part of the key to selling the property, she said, is to get potential buyers to see the building as something else than a motel in the future. Stewart said one possibility is for there to be retail and a restaurant on the ground floor and multi-family units above that.

According to the book "Sebring: City on the Circle" by Steve Olausen, Sebring built the Nan-ces-o-wee Hotel in 1923 after building the Kenilworth Lodge.

The idea was that the Nan-ces-o-wee would stay open all year, while the Kenilworth would be a seasonal hotel.

Another historic hotel downtown for sale is the Santa Rosa Inn, which has been vacant for more than five years. The hotel, also built in 1923, is being sold for $277,000 on Loopnet.com. In 2009, it was listed for $375,000.

In 2006, two business partners planned to sell condominiums at the Santa Rosa, as well as have a restaurant on the ground floor, but those plans failed to materialize.

For those interested in something else other than a hotel or a shopping center, what is billed as Highland County's only gun range is up for sale.

Rudi Blum, a co-owner, said he and the other owner of Highlands County Indoor Gun Range, decided to sell the business because they live in Port St. Lucie and are limited on how long they can stay at the business by the length of the commute.

Blum said he believes there's a lot of potential for someone who can stay during the evenings and provide classes.

They want $565,000 for the business, Loopnet said.

So far most of those potentially interested have been "tire kickers," he said.

The former First Federal of Sebring is up for sale for $299,000. Jimmy Wohl, who is selling it, said the building 126 E. Center Avenue also housed Highlands Title and Abstract and a couple of other businesses. Wohl said he's also handling the sale of the former Barnett bank in Sebring.

Other listed properties on Loopnet include:

NNN Tire Kingdom at 340 U.S. 27 North for $1.3 million.

Whispering Oaks, a gated community on Lake Josphine, for $399,000.

Medical Hill Professional Plaza, $1.4 million.

Sebring Lakeside Golf Resort, $1.2 million.

jmeisel@highlandstoday.com

(863) 386-5834

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