Property Details for 3993 Hwy 441

Property type

Office properties & Spaces

Description

This exceptional investment opportunity presents a 23-unit office park ideally situated in Okeechobee, Florida, at 3993 Highway 441 SE, zip code 34974. The property boasts 21 RV spaces, each featuring a concrete patio, adding to its diverse income streams. Further enhancing its appeal are a well-maintained two-bedroom, two-bathroom mobile home and a charming two-bedroom, one-bathroom concrete block home. Recent improvements include a newly paved asphalt road throughout the park, complete fencing, an on-site coin laundry facility, a fenced dog park with a sitting area, updated plumbing, a new septic system, and solar lighting. The park's prime location directly across from Lake Okeechobee's rim canal provides tenants with unparalleled access to recreational activities such as boating, fishing, and hiking. The property is conveniently located near local amenities and festivals, offering residents a blend of tranquility and accessibility. Eighteen of the 23 units are owner-occupied and in excellent condition. Individual electric and water meters for each unit ensure efficient utility management. The property offers a compelling 11% cap rate, making it an attractive investment prospect. Its strategic location in central Florida provides easy access to major cities, including Tampa, St. Petersburg, Naples, Fort Pierce, Stuart, Jupiter, Palm Beach, Miami, and Orlando, all within a reasonable driving distance. This property presents a unique opportunity for both primary and secondary home buyers seeking a blend of peaceful living and convenient access to Florida's diverse attractions. The property is offered at an asking price of $1,620,000.

Location Insight

City

Okeechobee

County

Okeechobee

State

Florida

Longitude

-80.7878

Latitude

27.2096