5286 16Th AveOkeechobee, FL 34974
- Retail properties
- 7,343 SF
Property Details for 5286 16Th Ave
- Year built
- 2003
- Construction
- STEEL FRAME
- Lot size
- 2.62 AC
- Property size (Sq ft)
- 7,343 SF
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 1-04-38-35-0A00-00016-C000
- APU
- 10438350A0000016C000
Description
This exceptional mixed-use property in Okeechobee, Florida, presents a lucrative investment opportunity. Situated on a 2.62-acre lot in a rapidly growing resort area, it's just minutes from downtown Okeechobee and the future Bass Pro Shops Resort. The property boasts a large, modern retail building, complemented by a well-maintained, two-bedroom, two-bathroom apartment on the second floor. Significant income potential is generated by 21 extra-large bass boat storage units, totaling 7,500 square feet. A separate 1,500-square-foot enclosed boat repair shop offers further revenue streams, with potential for expansion and additional outdoor storage. The main building also includes over 2,500 square feet of secure, climate-controlled space currently used for private offices and inventory storage. This property is ideally positioned to capitalize on the area's expanding tourism and recreational sectors. Showings are by appointment only, and a non-disclosure agreement and pre-approval are required. The asking price is $1,400,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,318,443
- 6.5%
- $3,063,178
- 7%
- $2,844,380
-
Comparable approach
- Method
- Valuation
- Relative Method
- $5,147,543
- Geo Method
- $5,147,543
-
Alternative Use
- Use
- Valuation
- Residential
- $2,583,906
- Hospitality
- $2,366,844
- Educational
- $1,969,186
- Medical
- $2,036,909
- Retail
- $3,063,178
Location Insight
- City
- Okeechobee
- County
- Okeechobee
- State
- Florida
- Latitude
- 27.1949
- Longitude
- -80.8439
- CBSA code
- 36380
- CBSA name
- OKEECHOBEE, FL MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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