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    7650 Hwy 78 Okeechobee, FL 34971

    For Sale
    $1,799,000

    27-Lot Mobile Home Park near Lake Okeechobee

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional investment opportunity presents a 27-lot mobile home park situated on over 2.5 acres in Okeechobee, Florida. Conveniently located minutes from Lake Okeechobee, the Kissimmee River, and downtown Okeechobee's amenities, this property also enjoys proximity to the developing Bass Pro Resort (less than 6 miles). The park comprises 27 lots/pads and a single concrete block studio apartment, complete with laundry facilities. Six units are owner-occupied, fifteen units are tenant-owned (lot rent only), and one unit is currently financed. Importantly, there are six vacant pads ready for development. The property features three convenient entrances and utilizes sub-metered public water and septic systems. Five brand-new, one-bedroom, one-bathroom mobile homes have recently been installed and are projected to rent for $1400 per month. A significant value-add potential exists through leasing the six vacant pads or constructing additional mobile homes at an estimated cost of $58,000 per unit. This presents a compelling investment prospect with a projected 9.5%-10% capitalization rate, requiring an estimated investment of $348,000 to fully realize its potential. The property is offered at $1,799,000.

    Property Features for 7650 Hwy 78

    General Information

    Property type
    Residential income properties
    Lot Size
    108,900 SF

    Building Details

    Year Built
    1984
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Map

    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -81.07689
    Latitude
    26.99615

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    FAQs

    What type of property is this?
    Residential income property - 27-Lot Mobile Home Park near Lake Okeechobee
    Where is this residential income property located?
    The property is located at 7650 Hwy 78 Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $1,799,000.
    (954) 923-2325
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    Realmo Value Estimation

    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.

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    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.

    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
    7650 Hwy 78 Okeechobee, FL 34971
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