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29323771
29323794

8951 FL-78, Okeechobee, FL 34974

Media Realty
Listed by Media Realty
$3,200,000
134 days on market
Updated 59 days ago

Okeechobee Lake RV Park

Details
APN 1-18-38-35-0A00-00004-0000
Property Type Multifamily
Sub Type RV Park
Units 66
Cap Rate 7.83%
NOI $236,465
Occupancy 87%
Pro-Forma Cap Rate 9.15%
Pro-Forma NOI $292,888
Broker Co-Op Yes
Year Built 1990
Acreage 6.200
Investment Type Value Add

MHP With Upside | 66 Units | $48,485/unit

Marketing description

Okeechobee Lake RV Park is strategically located just 6 miles—or approximately a 10-minute drive—from downtown Okeechobee, offering a significant competitive advantage over most parks in the area due to its accessibility and proximity to local amenities. The park features 70 total pads, with 66 currently occupied by lot renters, providing consistent income. On-site amenities include a clubhouse, a freestanding bathroom and shower facility, and a utility room, enhancing convenience and livability for residents.

Out Parcel: Additionally, the property includes a 6,743-square-foot commercial building fronting Highway 78 W. Originally built in 1960 as a restaurant, this structure is currently vacant and represents a strong value-add opportunity for commercial or mixed-use redevelopment. It possesses significant exposure and plenty of parking along the major traffic artery.

Investment highlights

  1. Okeechobee Lake Mobile RV Park contains 66 pads (lot rent only)

  2. This park is contiguous to Dew Drop Mobile Home Park which is on market and together they have a combined 126 pads.

  3. The park consists of lot rents only as each mobile home is tenant owned.

  4. The MHP is less than 5 miles to the central Business district of downtown Okeechobee

  5. Lot Rent Only has been increased to $500 as of Feb. 2026.

  6. Out Parcel containing superior exposure and plenty of parking fronts Hwy 78 W creating additional value add opportunities

  7. Clubhouse

  8. Coin Operated Laundry Facility

  9. Common Area Shower and Bathroom

Listing Contacts

Media Realty
Listed by Media Realty

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$236,465.00
$19,705.42/mo

Valuation Metrics

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DSCR
7.39%
Cap Rate
7.39%
ROI

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