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    710 2Nd Ave Okeechobee, FL 34972

    For Sale
    $1,300,000

    2.28-Acre Industrial Property, 6.9% Cap Rate

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 2.28-acre industrial property in Okeechobee, Florida, presents a compelling investment opportunity. Currently fully leased with a 6.9% cap rate, the property boasts a 15,428 square-foot building featuring both grade-level and dock-high loading. The existing tenant has a four-year lease remaining, followed by a five-year option with a 3% annual rent increase. Strategically located on the CSX Rail Line and US Hwy 441, this site offers unparalleled access to major transportation arteries, including Florida's Turnpike and I-95 (within 30 minutes). Its prime location in Okeechobee, a thriving hub for heavy industry and agriculture, provides easy access to West Palm Beach, Fort Lauderdale, Miami, and Orlando. The property's proximity to Lake Okeechobee and the Okeechobee Waterway further enhances its appeal. The industrial zoning allows for potential value-add opportunities through building renovation. The area's presence of several international companies underscores its strong industrial market. This is a rare chance to acquire a well-positioned, income-producing asset with significant long-term potential. The asking price is $1,300,000.

    Property Features for 710 2Nd Ave

    General Information

    Property type
    Farms
    Lot Size
    99,317 SF

    HighLights

    • 2.28‑acre ground‑leased industrial property.
    • Existing tenant with 4 years remaining on lease, plus a 5‑year option; 3% annual rent increases.
    • 15,428 SF building with grade‑level and dock‑high loading.
    • Rail‑served property with CSX access, off US Hwy 441.
    • Easy access to West Palm Beach, Ft. Lauderdale, Miami, and Orlando.
    • 30‑minute proximity to Florida's Turnpike and I‑95.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.8283725
    Latitude
    27.250393

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    FAQs

    What type of property is this?
    Farm - 2.28-Acre Industrial Property, 6.9% Cap Rate
    Where is this farm located?
    The property is located at 710 2Nd Ave Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: 2.28-acre ground-leased industrial property.; Existing tenant with 4 years remaining on lease, plus a 5-year option; 3% annual rent increases.; 15,428 SF building with grade-level and dock-high loading.
    Request Owner's contact information
    710 2Nd Ave Okeechobee, FL 34972
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    Okeechobee, FL 34972
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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.

    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.

    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.

    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
    710 2Nd Ave Okeechobee, FL 34972
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