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    56.16 Acres Vacant Land on SR 70 Title is generated by Realmo AI

    2358 E SR 70, Okeechobee, FL 34972

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    Claim this Listing
    For Sale
    $3,900,000

    Land - Okeechobee, FL

    Lot size:
    56.16 Acres
    Added:
    May 22, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 1 at 4:06 pm

    Property Features for 2358 E SR 70

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RSF
    Standard status
    Active
    APN
    1-14-37-35-0050-00000-0010
    Lot size
    56.16 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    327

    Utilities

    Sewer type
    None
    Water source
    Other

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kersten Maxson
    Kersten Maxson

    Listing agent Kersten Maxson License #3537934

    Listing office Antonio Perez PA 417 W Sugarland Hwy, Clewiston, FL

    Listing date May 22, 2026

    MLS# A12023084 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 56.16 Acres of Vacant Land with Development Potential
    • Commercial Corridor Mixed Use and Urban Residential Mixed Use Future Land Use
    • Three Separate Parcels with Approximately 1295' of Frontage
    • Residential Single Family Zoned 2.5 Acre Parcel
    • Electricity and Municipal Water Access Available
    • Located on SR 70, 1.5 miles east of US 441

    Overview

    This offering consists of 56.16 acres of vacant land situated on SR 70, approximately 1.5 miles east of US 441 and SR 70. The property is divided into three separate parcels, featuring a combined frontage of approximately 1295 feet. A 2.5-acre parcel is zoned for Residential Single Family (RSF) use, with a Future Land Use (FLU) designation as COMMERCIAL CORRIDOR MIXED USE, suitable for commercial or light industrial use, subject to site plan approval by Okeechobee County. The remaining two parcels are zoned for Agriculture (A) and have a Future Land Use (FLU) designation as URBAN RESIDENTIAL MIXED USE, allowing a maximum of 18 units per acre, also subject to Okeechobee County site plan approval. The property benefits from existing electricity and municipal water access. Sewer access is located approximately 1/2 mile northeast of the site. Parcel 1 and 2 are designated as X, while Parcel 3 is designated as X500. The parcel identification numbers are as follows: PID 1: 1-14-37-35-0050-0000-0010 (2.52 AC/DOR IMP), PID 2: 1-14-37-35-0A00-00006-0000 (26.09 AC/DOR IMP), and PID 3: 1-23-37-35-0A00-00003-0000 (27.54 AC/DOR NAT).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.9004
    Latitude
    27.4513

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    FAQs

    What type of property is this?
    Commercial land - 56.16 acres of vacant land on SR 70.
    Where is this commercial land located?
    The property is located at 2358 E SR 70 Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: 56.16 Acres of Vacant Land with Development Potential; Commercial Corridor Mixed Use and Urban Residential Mixed Use Future Land Use; Three Separate Parcels with Approximately 1295' of Frontage
    (954) 557-4362
    We can help!
    Listing Contact
    Kersten Maxson
    Kersten Maxson
    Real Estate License ID: 3537934
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2358 E SR 70, Okeechobee, FL 34972
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