For Sale
$1,300,000

710 2Nd AveOkeechobee, FL 34972

2.28-Acre Industrial Property, 6.9% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 2.28-acre industrial property in Okeechobee, Florida, presents a compelling investment opportunity. Currently fully leased with a 6.9% cap rate, the property boasts a 15,428 square-foot building featuring both grade-level and dock-high loading. The existing tenant has a four-year lease remaining, followed by a five-year option with a 3% annual rent increase. Strategically located on the CSX Rail Line and US Hwy 441, this site offers unparalleled access to major transportation arteries, including Florida's Turnpike and I-95 (within 30 minutes). Its prime location in Okeechobee, a thriving hub for heavy industry and agriculture, provides easy access to West Palm Beach, Fort Lauderdale, Miami, and Orlando. The property's proximity to Lake Okeechobee and the Okeechobee Waterway further enhances its appeal. The industrial zoning allows for potential value-add opportunities through building renovation. The area's presence of several international companies underscores its strong industrial market. This is a rare chance to acquire a well-positioned, income-producing asset with significant long-term potential. The asking price is $1,300,000.

Highlights

  • 2.28-acre ground-leased industrial property.
  • Existing tenant with 4 years remaining on lease, plus a 5-year option; 3% annual rent increases.
  • 15,428 SF building with grade-level and dock-high loading.
  • Rail-served property with CSX access, off US Hwy 441.
  • Easy access to West Palm Beach, Ft. Lauderdale, Miami, and Orlando.
  • 30-minute proximity to Florida's Turnpike and I-95.

Property Details for 710 2Nd Ave

Property type
Land, Industrial properties
Lot Size (sq. ft)
99,317 SF

Location Insight

City
Okeechobee
County
Okeechobee
State
Florida
Latitude
27.250393
Longitude
-80.8283725
710 2Nd Ave, Okeechobee, Florida

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710 2Nd Ave
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