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

    2821 SW 3Rd Ter Okeechobee, FL 34974

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,795,000

    17,640 sq ft commercial plaza on 1.291 acres.

    Lot size:
    1.29 Acres

    Property Features for 2821 SW 3Rd Ter

    General Information

    Lot size
    1.29 Acres

    We can help!

    Listing Contact
    Bryan Holden
    Source: Elliman

    Listing Agent: Bryan Holden

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Fully Leased Commercial Plaza

    This fully leased commercial plaza, known as Cedar Plaza, offers 17,640 square feet of leasable space on a 1.291-acre lot. The property features 14 individual bays. Current leases are structured as 2-year agreements with an annual escalator. The location is just off Hwy 441 South and one block west of Home Depot. The current actual income reflects a 7% cap rate at the asking price, with potential for income growth. The property has been recently remodeled.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tha Tint Guy Window Tinting Service Tha Tint Guy ... Window Tinting Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.832929
    Latitude
    27.217178

    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
    • New
      $210,000
      0.07 Acres

      RV Resort Lot with Casita

      RV resort lot featuring a casita, tiki hut, and golf cart.
      3923 SW 6 Gln, Okeechobee, FL 34974
      View Details
    • New
      $245,000
      0.06 Acres

      RV Resort Lot with Casita

      Resort lot with Tiki, casita, exquisite landscaping, and RV.
      526 SW 40 Cv, 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
    • New
      $2,000,000
      104.00 Acres

      Okeechobee Ranch with Development Potential

      104-acre ranch property with renovation or redevelopment 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

    FAQs

    What type of property is this?
    Strip mall - 17,640 sq ft commercial plaza on 1.291 acres.
    Where is this strip mall located?
    The property is located at 2821 SW 3Rd Ter Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $1,795,000.
    What are key features of this property?
    This property features: - Fully leased 17,640 sq ft commercial plaza.; - Current leases have a built-in annual escalator.; - Current actual income reflects a 7% cap rate at asking price.
    (863) 634-5792
    Request Owner's contact information
    2821 SW 3Rd Ter 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.
    2821 SW 3Rd Ter
    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
    2821 SW 3Rd Ter 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
    Bryan Holden
    (863) 634-5792
    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.