8761 FL-78 - Manufactured Housing/Mobile Housing FOR SALE


Okeechobee, FL 34974
$2,700,000 USD
954-923-2325
8761 FL-78, Okeechobee, FL for Sale
$2,700,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/27
null | 11.79% Cap Rate

8761 FL-78
Okeechobee, FL 34974


HIGHLIGHTS

  • The Dew Drop Mobile Home Park sits on 3.9 acres and contains 57 pads with one folio and
  • Dew Drop is contiguous to Okeechobee Lake RV Park (Same Owner) which is for sale for $3.2 Million containing 66 pads for a total of 123 pads
  • The park consists of lot rents only as each mobile home is tenant owned.
  • The MHP is less than 5 miles to the central Business district of downtown Okeechobee

OVERVIEW

Dew Drop RV Park presents investors with a stabilized, income-generating asset located just 11 minutes from downtown Okeechobee. Strategically positioned adjacent to Lake Okeechobee RV Park, the property benefits from regional synergy and sustained tenant demand. The park comprises 63 total pads, with 57 currently occupied on lot-rent-only terms, offering immediate cash flow with operational upside. Encompassing over 3.9 acres, the property features dual access points, paved interior roads, sub-metered public water, and septic infrastructure. Originally developed in 1988, the park has been well maintained and offers a low-intensity management profile. Dew Drop RV Park represents an attractive opportunity to acquire a quality RV park with in-place income, infrastructure durability, and upside through rent optimization and full occupancy. Due to the limited data fields CoStar provides for mobile home and RV parks, please find the operating stack for Dew Drop Inn below Annualized Operating Data Current Rents Market Rent Scheduled Gross Income: $342,000 $376,200 Less Vacancy Rate Reserve: 41,040 12.00% 29,894 7.95% Effective Operating Income: 300,960 346,306 Pass-Thru Income 18,072 76,014 Total Income 319,032 $422,320 Less Expenses: 107,494 33.69% 107,494 25.45% Net Operating Income: 211,538 $314,826

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

57

PRICE/UNIT

$47,368

CAP RATE

11.79%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dew Drop Inn RV Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.26 AC

LAND SF

185,566 SF

ZONING

-

APN/PARCEL ID

R1-17-38-35-0A00-00005-0000

ASK ABOUT THIS PROPERTY

Peter DackoMedia RealtyMore Info
954-923-2325

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Peter DackoMedia RealtyMore Info
954-923-2325

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.