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    Park St Okeechobee, FL 34972

    • Retail properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Park St

    Year built
    2023
    Property type
    Retail properties

    Description

    This 2023-built retail business in Okeechobee, FL, is available for $120,000. Located on SW Park Street, 34972, this turnkey operation is fully equipped and immediately operational. The sale includes all existing equipment, a comprehensive inventory of supplies, and an established customer base. Features include a Pitco fryer, a new full hood system, a fire suppression system, commercial freezers and refrigerators, display coolers, additional fryers, stainless steel sinks and tables, a glazer, proofer, convection ovens, a Hobart 30 qt standing mixer, a GE 10 qt mixer, a solid hardwood prep table, numerous utensils, a coffee presentation area, and an ice machine. The business offers a variety of grab-and-go deli items, pastries, and donuts. Expansion possibilities exist, and an assumable lease is available. Owner financing may be considered with a suitable down payment. This presents a fantastic opportunity for an entrepreneur seeking a profitable, established business with significant potential for growth. The property itself has a zero square foot lot size, indicating the business operates within an existing structure. This is a truly exceptional opportunity to own a thriving business in a desirable location.

    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
    -80.8368
    Latitude
    27.2432

    Comparable in this City

    • Value Estimation
      $355,000
      3,816 SF

      1020 Park St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,816 SF
      1020 Park St, Okeechobee, FL 34972-4056
      View Details
    • Value Estimation
      $720,000
      2,784 SF

      3691 Us Hwy 441st N

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,784 SF
      3691 Us Hwy 441st N, Okeechobee, FL 34972-1712
      View Details
    • Value Estimation
      $325,000
      6,000 SF

      204 9th St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 6,000 SF
      204 9th St, Okeechobee, FL 34972-2142
      View Details
    • Value Estimation by Request
      3,474 SF

      22302 176th Ave

      CONVENIENCE STORE • 3,474 SF
      22302 176th Ave, Okeechobee, FL 34972-3963
      View Details
    • Value Estimation
      $235,000
      240 SF

      227 39th Blvd

      RETAIL STORES (PERSONAL SERVICES) • 240 SF
      227 39th Blvd, Okeechobee, FL 34972
      View Details
    • Value Estimation
      $470,000
      15,490 SF

      907 Park St

      RETAIL STORES (PERSONAL SERVICES) • 15,490 SF
      907 Park St, Okeechobee, FL 34972-4117
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      30,660 SF

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      Okeechobee Office Space Available

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    Park St
    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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