Current Use by Public Records
- Mobile home & RV parks
Property Details
- Lot size
- 0.43 lot acres
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This exceptional investment opportunity presents a 0.43-acre turnkey RV park situated on the Rim Canal in Lake Okeechobee, Florida. Boasting a remarkable 11.33% cap rate and a net operating income (NOI) of $96,202, this property offers significant returns. Currently operating at 100% occupancy, the park generates a gross income of $110,100. The property features city water and sewer connections, adding to its operational efficiency. Three units have been recently updated with brand-new roofs, and several units have new central air conditioning systems. Further enhancing its appeal, a new seawall is currently under construction (2024 completion). Conveniently located within walking distance of local amenities such as convenience stores, grocery stores, and restaurants, this park provides residents with easy access to essential services. On-site laundry facilities add to the convenience for residents. This property is an ideal acquisition for first-time investors or those seeking a low-maintenance, high-return investment. The park is available for sale individually or as part of a larger package. The asking price is $849,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Buckhead Ridge
- County
- State
- Florida
- Longitude
- -80.8263
- Latitude
- 27.1997
