113 5Th AveOkeechobee, FL 34974
- Retail properties
- 3,858 SF
Property Details for 113 5Th Ave
- Year built
- 1948
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.15 AC
- Property size (Sq ft)
- 3,858 SF
- Property type
- Retail properties
- Property subtype
- Other individual retail properties
- APN
- 3-15-37-35-0010-01660-0070
- APU
- 9223372036854775807
Description
This exceptional Okeechobee, FL commercial property presents a rare investment opportunity. Built in 1948, the 3,858 square foot building boasts a thriving, established gym with 75 active members and brand-new equipment. This turnkey gym operation is available for sale separately, offering immediate income potential. Adding to the property's value is a fully remodeled, one-bedroom, one-bathroom apartment currently leased at $1,500 per month, providing consistent rental income. The main building's substantial 3,011 square foot base offers significant flexibility for a variety of business ventures. Entrepreneurs will appreciate the versatility of this space, allowing for expansion or the addition of complementary businesses. The property sits on a 0.15-acre lot in a prime Okeechobee location. The building and the gym business are offered for sale separately, providing buyers with options to tailor their investment strategy. This is a unique chance to acquire a historically significant building with proven income streams and substantial growth potential. The asking price for the entire property is $559,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,743,504
- 6.5%
- $1,609,389
- 7%
- $1,494,432
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,704,510
- Geo Method
- $2,704,510
-
Alternative Use
- Use
- Valuation
- Residential
- $1,357,580
- Hospitality
- $1,243,536
- Educational
- $1,034,607
- Medical
- $1,070,189
- Retail
- $1,609,389
Location Insight
- City
- Okeechobee
- County
- Okeechobee
- State
- Florida
- Latitude
- 27.2426
- Longitude
- -80.8342
- 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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