Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3431 SE 28Th St Okeechobee, FL 34974

    Sponsored
    For Sale
    $68,500

    Land - OKEECHOBEE, FL

    Lot size:
    0.25 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 25 at 9:06 pm

    Property Features for 3431 SE 28Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RES
    APN
    R1-25-37-35-0070-00060-2390
    Lot size
    0.25 Acres

    Utilities

    Water front features
    Canal - Freshwater, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Steven Koleno

    beycome (844) 239-2663

    Listing agent Steven Koleno (844) 239-2663 License #3469487

    Listing date Jan 24, 2026

    MLS# O6376620 Listing URL

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

    Learn more

    Property Insight Report

    Overview

    Waterfront Lot Ready to Build

    This quarter-acre canal-front lot in Okeechobee, Florida, presents an opportunity for building a custom or manufactured home. Located in Treasure Island, the cleared and build-ready lot offers access to Lake Okeechobee without fixed bridges, facilitating access to both the Atlantic and Gulf coasts by water. Boating enthusiasts can benefit from the property's proximity to Taylor Creek and the Lake Okeechobee lock, providing access to fishing locations. City water and electric are available at the lot, and a permitted and approved septic system is already in place.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Hair Salon Building Supply Pharmacy Auto Repair Shop Wholesale Shop Kitchen & Bath Department Store Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.792892
    Latitude
    27.218502

    Nearby Similar for Sale

    • $275,000

      Luxury RV Living in Okeechobee

      5-star RV resort lot with Tiki hut and casita.
      632 SW 35 Trce, Okeechobee, FL 34974
      View Details
    • $399,000

      Luxury RV Resort Property

      Upscale RV resort property with Tiki, Casita, and fifth wheel.
      3608 SW 7Th St, Okeechobee, FL 34974
      View Details
    • $1,350,000
      2.50 Acres

      Okeechobee Mobile Home Park Investment

      Value-add mobile home park near Lake Okeechobee.
      7650 Hwy 78 W, Okeechobee, FL 34971
      View Details
    • $375,000
      0.05 Acres

      Turnkey Medical Suite For Sale

      Turnkey medical suite with exam rooms, offices, and private entry.
      1713 Us Highway 441 N, Okeechobee, FL 34972
      View Details
    • $595,000
      3,391 SF

      Move-in Ready Medical Office Building

      Well-maintained medical office in prime location across from HCA Hospital.
      1713 Hwy 441 N, Okeechobee, FL 34972
      View Details
    • $324,500
      0.17 Acres

      Land with Furnished Casita & Tiki

      Landscaped lot with casita, tiki, and resort amenities.
      3616 SW 7Th St, Okeechobee, FL 34974
      View Details
    • $239,900

      RV Resort Lot with Casita

      Lot in 5-star resort with Tiki hut and Casita.
      3929 SW 6 Gln, Okeechobee, FL 34974
      View Details
    • $2,500,000
      104.00 Acres

      Expansive Ranch Property in Okeechobee

      104-acre ranch with renovation potential near town.
      6235 Us Highway 98, Okeechobee, FL 34972
      View Details
    • $249,900

      Luxury RV Resort Lot

      90-acre gated community near Lake Okeechobee with luxury amenities.
      3520 SW 7 Mnr, Okeechobee, FL 34974
      View Details
    • $269,000

      Silver Palms RV Resort Gem

      Resort living at its finest in Okeechobee, Florida.
      3618 SW 7 Mnr, Okeechobee, FL 34974
      View Details
    • $1,400,000
      3,880 SF

      Okeechobee Commercial Building with Business

      Profitable dry-cleaning business and commercial building in high-traffic area.
      Okeechobee, FL 34974
      View Details
    • $215,000

      Silver Palms RV Resort Casita

      Casita with Tiki Hut in Silver Palms RV Resort.
      3607 SW 7Th St, Okeechobee, FL 34974
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Oversized canal-front lot with permitted septic system near Lake Okeechobee.
    Where is this residential land & home lot located?
    The property is located at 3431 SE 28Th St Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $68,500.
    What are key features of this property?
    This property features: - Canal front lot with direct, bridge-free access to Lake Okeechobee, the Atlantic, and Gulf coasts.; - Cleared and build-ready quarter-acre lot.; - Permitted and approved septic system already in place.
    (844) 239-2663
    Request Owner's contact information
    3431 SE 28Th St Okeechobee, FL 34974
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3431 SE 28Th St
    Okeechobee, FL 34974
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    3431 SE 28Th St Okeechobee, FL 34974
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Steven Koleno
    Real Estate License ID: 3469487
    (844) 239-2663
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.