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    180a 3Rd Ave Okeechobee, FL 34972

    • Office Properties & Spaces
    • 6,411 SF
    • 0.32 lot acres
    For Sale
    View listing
    $1,075,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 180a 3Rd Ave

    Year built
    1976
    Lot size
    0.32 lot acres
    Property size
    6,411 SF
    Property type
    Office Properties & Spaces

    Description

    THE CURRENT OKEECHOBEE COUNTY COURTHOUSE. ALSO

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.832
    Latitude
    27.2445

    Comparable in this City

    • Value Estimation by Request
      2,100 SF

      1200 12th St

      OFFICE (GENERAL) • 2,100 SF
      1200 12th St, Okeechobee, FL 34972
      View Details
    • Value Estimation
      $4,435,000
      25,000 SF

      3193 366th Trl

      OFFICE (GENERAL) • 25,000 SF
      3193 366th Trl, Okeechobee, FL 34972
      View Details
    • Value Estimation by Request
      1,500 SF

      3157 Us Hwy 441st N

      OFFICE (GENERAL) • 1,500 SF
      3157 Us Hwy 441st N, Okeechobee, FL 34972-1852
      View Details
    • Value Estimation
      $1,085,000
      6,560 SF

      1204 Us Hwy 441st N

      OFFICE (GENERAL) • 6,560 SF
      1204 Us Hwy 441st N, Okeechobee, FL 34972-1903
      View Details
    • Value Estimation by Request
      5,535 SF

      208 Parrott Ave

      OFFICE (GENERAL) • 5,535 SF
      208 Parrott Ave, Okeechobee, FL 34972-2931
      View Details
    • Value Estimation by Request
      1,648 SF

      210 7th St

      OFFICE (GENERAL) • 1,648 SF
      210 7th St, Okeechobee, FL 34972-2600
      View Details

    Similar Nearby for Sale

    • $1,075,000
      6,411 SF

      WITHIN WALKING DISTANCE {SIDEWALKS} OF THE HISTORIC COUNTY COURTHOUSE

      AS WELL AS
      180a 3Rd Ave, Okeechobee, FL 34972
      View Details
    • $400,000

      Highway 70 Versatile Investment Property

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      Turnkey Medical Suite For Sale

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    • $239,000
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      OKEECHOBEE MEDICAL PARK

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    • $595,000
      3,391 SF

      Move-in Ready Medical Office Building

      Well-maintained medical office in prime location across from HCA Hospital.
      1713 Hwy 441 N, Okeechobee, FL 34972
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    • $1,649,900

      Okeechobee Multifamily Investment Opportunity

      17-Unit Multifamily Property in Florida
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    Similar Nearby for Lease

    • $19 SF/Yr
      3,442 SF

      Okeechobee Office Space Available

      Office space available for lease in Okeechobee, Florida.
      208 SE Park St, Okeechobee, FL 34972
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    • $23 SF/Yr
      52,000 SF

      Raulerson Medical Office Suites

      Modern Medical Office Space Available
      1796 Us Highway 441, Okeechobee, FL 34972
      View Details
    • Contact for pricing
      30,660 SF

      Retail/Industrial/Flex Space Available

      Retail, industrial, or flex space with high street visibility.
      3601 Us Highway 441 S, Okeechobee, FL 34972
      View Details
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    Okeechobee, FL 34972
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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.

    More about this property
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