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Cloverport Mobile Home Park

7650 Highway 78 W, Okeechobee, FL 34971

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For Sale

$1,350,000

Value-add mobile home park near Lake Okeechobee.

Lot size:

2.50 Acres

HighLights

High In‑Place 9.25% Cap Rate with Potential to Reach 11.0% (Stabilized)
Significant Upside Potential Due to Aggressively Reduced Asking Price
27 Mobile Home Pads Plus One CBS Studio Apartment on 2.5+ Acres
Strategic Location Minutes from Lake Okeechobee and the Central Business District
Three Points of Ingress/Egress
Sub‑metered Public Water and Septic, On‑Site Laundry Facilities, Annual Leases

We can help!

Listing Contact

Peter Dacko

Learn more

For Sale

$1,350,000

Value-add mobile home park near Lake Okeechobee.

Lot size:

2.50 Acres

Added:: Mar 1, 2024
Days on Market:: 833
Last Refresh:: May 13 at 8:15 pm

Property Features for 7650 Highway 78 W

General Information

Standard status: Active
Lot size: 2.50 Acres
Property subtype: Other

Building Details

Year Built: 1984

We can help!

Listing Contact

Peter Dacko

Listing agent Peter Dacko

Listing office Media Realty

Listing date Mar 1, 2024

Source Xome

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 Media Realty

HighLights

High In‑Place 9.25% Cap Rate with Potential to Reach 11.0% (Stabilized)
Significant Upside Potential Due to Aggressively Reduced Asking Price
27 Mobile Home Pads Plus One CBS Studio Apartment on 2.5+ Acres
Strategic Location Minutes from Lake Okeechobee and the Central Business District
Three Points of Ingress/Egress
Sub‑metered Public Water and Septic, On‑Site Laundry Facilities, Annual Leases

Overview

Cloverport Mobile Home Park presents a value-add investment opportunity. The property is located minutes from Lake Okeechobee and the central business district, offering convenient access to dining, shopping, and employment centers. Situated on over 2.5 acres, Cloverport consists of 27 mobile home pads and one CBS studio apartment, with three points of ingress/egress. The park features sub-metered public water and septic, on-site laundry facilities, and annual leases. The property has an in-place 9.25% cap rate and an estimated 11.0% capitalization rate based on stabilized income. The asking price has been reduced, creating upside potential.

Location Intelligence

Current Use by Public Records

Mobile home & RV ...

Map

City: Okeechobee
County: Okeechobee
State: Florida
Longitude: -80.8297828
Latitude: 27.2439349

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For sale
Mobile home & RV parks
FL
Okeechobee
34971
7650 Highway 78 W

What type of property is this?

Mobile home & RV park - Value-add mobile home park near Lake Okeechobee.

Where is this mobile home & rv park located?

The property is located at 7650 Highway 78 W Okeechobee, FL.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: High In‑Place **9.25% Cap Rate** with Potential to Reach 11.0% (Stabilized); Significant Upside Potential Due to Aggressively Reduced Asking Price; **27 Mobile Home Pads Plus One CBS Studio Apartment** on 2.5+ Acres