Add Listing
    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

    512 Park St Okeechobee, FL 34972

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Downtown Okeechobee investment opportunity.

    Property size:
    15,560 SF

    Property Features for 512 Park St

    General Information

    Property type
    Freestanding property
    Square Feet
    15,560 SF
    Lot Size
    77,972 SF

    Building Details

    Year Built/Renovated
    1959/1990
    Buildings
    2
    Stories
    1

    We can help!

    Listing Contact
    Gary Ralston
    Gary Ralston

    Listing Agent: Gary Ralston

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

    Learn more

    Property Insight Report

    Overview

    This exceptional investment opportunity encompasses two buildings totaling 15,560 square feet situated on a 1.79-acre lot in downtown Okeechobee, Florida. The property, located at 512 & 513 NW Park St (State Road 70), consists of a 10,592 square foot free-standing retail building and a 4,968 square foot industrial warehouse. Built in 1959 and renovated in 1990, the buildings offer a versatile space suitable for a variety of retail and industrial uses. The retail space boasts approximately 150 feet of frontage on NW Park Street, a high-traffic road with an estimated 22,500 vehicles passing daily, ensuring excellent visibility and accessibility. The property includes 14 parking spaces and offers a spacious interior layout adaptable to diverse business needs. The asking price is $1,750,000, translating to $112.47 per square foot. This property presents a compelling investment opportunity in a thriving downtown location. The property's APN numbers are 31537350010015900070 and 31537350010015900030. The zip code is 34972.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Badcock Home Furniture ... Home Appliance Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.8353691
    Latitude
    27.2439723

    Nearby Similar for Sale

    • $495,000
      2,708 SF

      Okeechobee Commercial Warehouse Opportunity

      Commercial warehouse with additional lot for sale or lease.
      803 SW Park St, Okeechobee, FL 34974
      View Details
    • $325,000
      0.05 Acres

      Turnkey Medical Suite For Sale

      Turnkey medical suite with exam rooms and private offices.
      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 Us Highway 441 N, Okeechobee, FL 34972
      View Details
    • $600,000
      3,424 SF

      Renovated Commercial Warehouse in Okeechobee

      Fully renovated 3,424 SF commercial warehouse in central Okeechobee.
      1113 SW Park St, Okeechobee, FL 34974
      View Details
    • $280,000

      Land in Silver Palms Resort

      Landscaped lot with casita in a resort setting.
      502 SW 42 Cv, Okeechobee, FL 34972
      View Details
    • $265,000
      0.06 Acres

      RV Resort Lot with Casita

      RV resort lot with amenities and outdoor living space.
      530 SW 40 Cv, Okeechobee, FL 34974
      View Details
    • $275,000
      956 SF

      Okeechobee Commercial Building For Sale

      Commercial building in Okeechobee, Florida, needing TLC, in commercial zone.
      304 SW 3Rd Ave, 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
    • $182,500
      0.07 Acres

      RV Resort Lot with Casita

      Lot with Casita in active RV Resort, Okeechobee.
      515 SW 39 Trce, Okeechobee, FL 34974
      View Details
    • $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
    • $4,500,000
      7.50 Acres

      Turnkey Grassfed Production Business

      Vertically integrated grassfed production business with real estate included.
      21810 NW 270Th St, Okeechobee, FL 34972
      View Details
    • $199,000

      Vacant Lot with Casita

      Vacant lot with Casita and Tiki Hut in Okeechobee.
      601 SW 42 Cv, Okeechobee, FL 34974
      View Details

    FAQs

    What type of property is this?
    Freestanding property - Downtown Okeechobee investment opportunity.
    Where is this freestanding property located?
    The property is located at 512 Park St Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: 10,592 SF freestanding retail building and 4,968 SF industrial warehouse on a 1.79-acre lot.; Spacious interior layout adaptable to diverse business needs.; Versatile space suitable for various industrial and warehouse uses.
    (863) 877-2828 Call to check price and availability
    Request Owner's contact information
    512 Park St Okeechobee, FL 34972
    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.
    512 Park St
    Okeechobee, FL 34972
    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
    512 Park St Okeechobee, FL 34972
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gary Ralston
    Gary Ralston
    Real Estate License ID: 3232399
    (863) 877-2828 (863) 738-2246
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!