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    113 5Th Ave Okeechobee, FL 34974

    For Sale
    $559,000

    Thriving Gym & Apartment Building

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    Discover a unique investment opportunity in Okeechobee, Florida, with this 3,858 sq ft. property. Built in 1948, the building currently houses a successful gym with 75 active members and brand-new equipment, offering immediate income potential. This established gym business is available for sale separately from the building. A fully remodeled and leased one-bedroom, one-bathroom apartment generates an additional $1,500 monthly rental income. The building's 3,011 sq ft. base provides ample space for expansion or additional business ventures. The property is located at 113 SW 5th Avenue, Okeechobee, FL 34974, and is offered at $559,000. The versatile nature of this property presents a compelling opportunity for entrepreneurs seeking a profitable investment with multiple income streams. The building and the gym business can be sold separately, allowing for flexible investment strategies. This is a rare chance to acquire a well-established business and a substantial property in a growing Florida community. The lot size is not specified.

    Property Features for 113 5Th Ave

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    1948

    HighLights

    • Asking price: $559,000.
    • Special purpose property built in 1948.
    • Includes a thriving gym with 75 active members (gym business can be sold separately).
    • Features a fully remodeled, leased 1‑bed/1‑bath apartment generating $1,500 monthly rental income.
    • Offers 3,011 sq ft of additional space for various business ventures.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Premia Fitness Okeechobee Gym

    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
    -80.834254
    Latitude
    27.2425551

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    FAQs

    What type of property is this?
    Specialty property - Thriving Gym & Apartment Building
    Where is this specialty property located?
    The property is located at 113 5Th Ave Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $559,000.
    What are key features of this property?
    This property features: Asking price: $559,000.; Special purpose property built in 1948.; Includes a thriving gym with 75 active members (gym business can be sold separately).
    Request Owner's contact information
    113 5Th Ave Okeechobee, FL 34974
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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
    113 5Th Ave Okeechobee, FL 34974
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