16415 Us-441 Okeechobee, FL 34972

Property Details for 16415 Us-441

Lot size

123.00 lot acres

Property type

Land

Property subtype

Farms

Description

Exceptional investment opportunity in Okeechobee County, Florida, presents a 123-acre property ideally situated on US-41, just north of Okeechobee. Currently zoned for agriculture, this expansive land boasts significant potential for commercial redevelopment. Previously, approximately 15 acres were approved for commercial use, encompassing plans for a strip shopping center, convenience store, and truck stop, along with a 160-unit motel. Further development plans included a rural activity center with a large shopping center, motel, apartments, and homesites. The original commercial zoning encompassed 1,016 feet of frontage along Highway 441, extending 650 feet deep on the west side, just north of State Road 68. The entire property extends approximately one mile deep from the highway. Currently, the land is utilized for cattle grazing and hay production, with real estate taxes totaling approximately $700 annually. The property includes approximately 108 acres zoned for agriculture situated behind the proposed plaza area. Approximately 12 acres of wooded land, where Otter Creek intersects the property, are located about one-third of the way back from the highway. Two-thirds of the property lies beyond this wooded area. Historically, around 40 acres were cultivated with Pennisetum (Reyrod grass), a high-protein grass used to feed elephants. Otter Creek traverses the property, which features a mix of open grassland and wooded areas. Okeechobee County Fire Rescue is conveniently located directly across Highway 441. The asking price is $2,500,000, translating to $21,950 per acre. The property is owned by a corporation. The potential for rezoning the Highway 441 frontage for commercial use presents a compelling investment prospect.