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    Okeechobee Trace Golf Course Development Title is generated by Realmo AI

    747 SW 48th Ave, Okeechobee, FL 34974

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    339-acre development site near Kissimmee River and Lake Okeechobee.

    Type:Special Purpose
    Lot size:
    339.00 Acres
    Added:
    Apr 12, 2026
    Days on Market:
    51
    Last Refresh:
    Apr 12 at 2:40 am

    Property Features for 747 SW 48th Ave

    General Information

    Standard status
    Active
    Lot size
    339.00 Acres
    Property subtype
    Special Purpose

    We can help!

    Listing Contact
    Brandon Tucker
    Brandon Tucker

    Listing agent Brandon Tucker License #0650885

    Listing office Tucker Group Llc

    Listing date Apr 12, 2026

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Tucker Group Llc

    HighLights

    • Approved site plan and PD Zoning in place for 464 single & multi‑family units.
    • Water & sewer available with sufficient capacity from Okeechobee Utility Authority.
    • Ready for final permits with SFWMD and ACOE for turn‑key construction.
    • Located minutes from Kissimmee River & Lake Okeechobee.
    • Quick access to major retailers like Super Wal‑Mart, Home Depot, Publix, and Aldi.
    • Centrally located: 45 minutes to east coast beaches and 90 minutes to Gulf Coast beaches.

    Overview

    This 339-acre development site, known as Okeechobee Trace Golf Course Development, is located minutes from the Kissimmee River and Lake Okeechobee, just west of the City of Okeechobee. The location provides quick access to retail amenities such as Super Wal-Mart, Home Depot, Publix, and Aldi. The property is centrally located, being within 45 minutes of the Treasure Coast beaches and 90 minutes of the Gulf Coast beaches in the Sarasota and Bradenton area. The site has land use and PD Zoning in place with an approved site plan. Water and sewer services are available to the site through the Okeechobee Utility Authority, which has sufficient capacity for the entire development. The development is entitled for 464 total single and multi-family units. The property is ready for final permits with the SFWMD and ACOE for turn-key construction.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.8869014
    Latitude
    27.2396884

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    FAQs

    What type of property is this?
    Commercial land - 339-acre development site near Kissimmee River and Lake Okeechobee.
    Where is this commercial land located?
    The property is located at 747 SW 48th Ave Okeechobee, FL.
    What are key features of this property?
    This property features: Approved site plan and PD Zoning in place for **464 single & multi‑family units**.; Water & sewer available with sufficient capacity from Okeechobee Utility Authority.; Ready for final permits with SFWMD and ACOE for turn‑key construction.
    (863) 763-4010 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brandon Tucker
    Brandon Tucker
    Real Estate License ID: 0650885
    Learn More
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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.

    More about this property
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    747 SW 48th Ave, Okeechobee, FL 34974
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