Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    28Th St Okeechobee, FL 34974

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    28Th St Okeechobee, FL 34974

    View on Map
    • Mixed-use properties
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 0 28Th St

    Property type
    Mixed-use properties

    Description

    This exceptional 65-acre mixed-use property presents a unique investment opportunity in Okeechobee, Florida. Situated on Taylor Creek, this expansive parcel boasts approximately 1250 feet of waterfront access on a main navigable waterway, offering unparalleled access to Lake Okeechobee. The property's recent rezoning to RSF (Residential Single Family) includes 3.82 acres designated for commercial use, creating a dynamic blend of residential and commercial possibilities. Imagine a thriving community with on-site shopping and restaurants, catering to both residents and visitors. The location is highly convenient, with proximity to major retailers such as Home Depot, Publix, and Walmart. This prime location offers significant potential for a high-end development, capitalizing on the desirable waterfront setting and the convenience of nearby amenities. The property's strategic location in the heart of Okeechobee provides easy access to various businesses and services. Some preliminary due diligence has already been conducted and will be shared with qualified buyers upon request. This is a rare opportunity to acquire a substantial waterfront tract with significant development potential in a rapidly growing area. The property is located at TBD SW TBD 28th Street, Okeechobee, FL 34974. The asking price is $1,950,000. Lot size is approximately 65 acres.

    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
    -80.8475
    Latitude
    27.218

    Comparable in this City

    • Value Estimation by Request

      1493 Hunter Rd

      Multifamily properties
      1493 Hunter Rd, Okeechobee, FL 34974
      View Details
    • Value Estimation by Request
      1,200 SF

      8840 Hwy

      Mixed-use properties • 1,200 SF
      8840 Hwy, Okeechobee, FL 34974
      View Details
    • Value Estimation by Request

      3321 38Th Ave

      Mixed-use properties
      3321 38Th Ave, Okeechobee, FL 34974
      View Details
    • Value Estimation by Request

      3321 38Th Ave

      Mixed-use properties
      3321 38Th Ave, Okeechobee, FL 34974
      View Details
    • Value Estimation by Request

      8840 Hwy

      Mixed-use properties
      8840 Hwy, Okeechobee, FL 34974
      View Details
    • Value Estimation by Request
      65.00 Acres

      28Th St

      Mixed-use properties • 65.00 Acres
      28Th St, Okeechobee, FL 34974
      View Details

    Similar Nearby for Sale

    • $1,950,000
      65.00 Acres

      Okeechobee Mixed-Use Development Land

      65 Acres, Water Frontage, High Potential
      28Th St, Okeechobee, FL 34974
      View Details
    • Contact for pricing

      Okeechobee Mixed-Use Property For Sale

      Mixed-use property with secure drive-thru doors and high-security fencing.
      5351 SW 16Th Ave SW, Okeechobee, FL 34974
      View Details
    • Contact for pricing

      Okeechobee Income-Producing Property

      Hotel/Motel, apartments, and RV park on US-441.
      1422 Us Highway 441, Okeechobee, FL 34974
      View Details
    • $399,000

      Nursery with Income Properties

      Nursery with three rental income properties near Lake Okeechobee.
      3321 38Th 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

    Similar Nearby for Lease

    • $20 SF/Yr
      2,142 SF

      Waterfront Restaurant/Bar in Okeechobee

      Waterfront restaurant/bar catering to tourists and locals.
      2200 Us Highway 441 SE, Okeechobee, FL 34974
      View Details
    • Contact for pricing

      Northlake Village Retail Space

      Retail space available at Northlake Village, Okeechobee, Florida.
      3373 Us Highway 441, Okeechobee, FL 34974
      View Details
    • Contact for pricing
      1,400 SF

      Retail Outparcel to Walmart Supercenter

      Retail space available in Okeechobee, adjacent to national retailers.
      2105 S Parrott Ave, Okeechobee, FL 34974
      View Details
    Request Owner's contact information
    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.
    28Th St
    Okeechobee, FL 34974
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!