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    Motel and Restaurant Property Title is generated by Realmo AI

    9700 SW Conners Hwy, Okeechobee, FL 34974

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    For Sale
    $500,000

    Non-functioning motel and sizable restaurant on a Mixed Use-zoned lot with room for redevelopment or restoration.

    Type:Commercial
    Lot size:
    1.29 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 3:17 am

    Property Features for 9700 SW Conners Hwy

    General Information

    Standard status
    Active
    Lot size
    1.29 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1963

    We can help!

    Listing Contact
    James C Di Paola

    Listing agent James C Di Paola License #3237747

    Listing office Realty professionals of Boynton Beach, LLC

    Listing date Jun 3, 2026

    Source Elliman

    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 Realty professionals of Boynton Beach, LLC

    HighLights

    • Former Cypress Lodge (est. 1963) is a non‑functioning 8‑room motel with a 7,300 SF restaurant
    • Set on a 1.293‑acre lot zoned Mixed Use, with both motel and restaurant needing complete renovation
    • Metal roof and CBS construction
    • Oversized parking lot serving the motel and restaurant
    • Property includes a rear finger canal leading to the Rim Canal (Lake Okeechobee’s Rim Canal), and sits directly across from S‑135 Channel Lock
    • Adjacent residential lot (0.756 ac) platted for 4 lots was formerly part of the motel/restaurant land and is also for sale

    Overview

    This property is a non-functioning 8-room motel and an approximately 7,300-square-foot restaurant, formerly known as the Cypress Lodge (established in 1963). The buildings are described as metal roof and CBS construction, and the property is in need of a complete renovation. It also includes an oversized parking area to support vehicle-based guest and customer use.

    The site is on an approximately 1.293-acre lot zoned for Mixed Use. An adjacent residential property of approximately 0.756 acres is also listed as part of the overall opportunity; it is platted for 4 lots and was formerly part of the motel/restaurant lot. The property’s setting includes direct views/frontage to the Lake Okeechobee’s Rim Canal, and it sits across from the S-135 Channel Lock, which is open to the public and managed by the South Florida Water Management District. The finger canal at the back of the property is described as leading to the rim canal, and the site is next door to the J & S Fish Camp that draws freshwater anglers.

    For buyers and operators, this is a practical fit for a full restoration of the former motel/restaurant or for a potential redevelopment plan under the existing Mixed Use zoning. With both lodging and restaurant space already on site, an investor or builder can evaluate options that align with the property’s canal-adjacent character and highway frontage.
    Location Intelligence

    Current Use by Public Records

    Motels

    Suggested Use

    Hotel & Motel Pet Store

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

    Similar Places Nearby

    • Bravo Mobile Home Park — 9518-9552, FL-700, Okeechobee, FL 34974

    Location Insight

    • Map
    • Local Demand
    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.6575861
    Latitude
    27.0873467

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    FAQs

    What type of property is this?
    Motel - Non-functioning motel and sizable restaurant on a Mixed Use-zoned lot with room for redevelopment or restoration.
    Where is this motel located?
    The property is located at 9700 SW Conners Hwy Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Former Cypress Lodge (est. 1963) is a non‑functioning 8‑room motel with a 7,300 SF restaurant; Set on a 1.293‑acre lot zoned Mixed Use, with both motel and restaurant needing complete renovation; Metal roof and CBS construction
    (561) 556-2224
    We can help!
    Listing Contact
    James C Di Paola
    Real Estate License ID: 3237747
    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.

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