Description
Palm Drive Trailer Park presents a compelling Value Add investment opportunity located just 4 miles from downtown Okeechobee, offering residents convenient access to local services, retail, and employment centers. The property consists of 24 pad sites situated along 36th Avenue, a publicly maintained city street, ensuring dependable infrastructure and municipal service access. The park is also canal-front, with direct water access to Lake Okeechobee. Ownership has recently experienced a shift in motivation and has aggressively reduced the asking price, creating a compelling entry point for investors seeking immediate cash flow with future upside in a supply-constrained submarket. Cap Rate 7.0% at asking price. Easy Management. No Repair and Maintenance. Below Market Rent +8.5% Cap Rate
Details
| MLS # | F10523905 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1984 |
| Days On Site | 362 |
| Listing Provided By | Media Realty | Peter Dacko III |
Features
| Units | 24 |
|---|---|
| Zoning | RR |
| Acreage | 944.00 |
Parking
| Parking Features | Accessible Parking |
|---|
Taxes
| Tax Annual Amount | 26444 |
|---|
Area Information
| State | FL |
|---|---|
| County | Okeechobee |
| City | Okeechobee |
| Zip Code | 34947 |
| Area | 6240 NW County (OK) |
| Listing VS Median (in 34947) | |
Price: $1,150,000 low | high Med: $307,400 On site: 362 low | high Med: 358 | |
Market Activity 34947
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Learn More About This Property
| State | FL |
|---|---|
| County | Okeechobee |
| City | Okeechobee |
| Zip Code | 34947 |
| Area | 6240 NW County (OK) |
| Listing VS Median (in 34947) | |
Price: $1,150,000 low | high Med: $307,400 On site: 362 low | high Med: 358 | |
