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8761 FL-78 - Dew Drop Inn RV Park 57 Unit Apartment Building Offered at $3,694,410 CAD at a 11.79% Cap Rate Okeechobee, FL 34974
Investment Highlights
- The Dew Drop Mobile Home Park sits on 3.9 acres and contains 57 pads with one folio and
- The park consists of lot rents only as each mobile home is tenant owned.
- 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 MHP is less than 5 miles to the central Business district of downtown Okeechobee
Executive Summary
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
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
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$289,447
|
$28.94
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $289,447 |
| Annual Per SF | $28.94 |
Property Facts
| Price | $3,694,410 CAD | No. Units | 57 |
| Price Per Unit | $64,814 CAD | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 10,000 SF |
| Cap Rate | 11.79% | No. Stories | 1 |
| Gross Rent Multiplier | 7.2 | Year Built | 1988 |
| Price | $3,694,410 CAD |
| Price Per Unit | $64,814 CAD |
| Sale Type | Investment |
| Cap Rate | 11.79% |
| Gross Rent Multiplier | 7.2 |
| No. Units | 57 |
| Property Type | Multifamily |
| Building Size | 10,000 SF |
| No. Stories | 1 |
| Year Built | 1988 |
Amenities
Site Amenities
- 24 Hour Access
- Clubhouse
- Laundry Service
1 1
Property Taxes
| Parcel Number | R1-17-38-35-0A00-00005-0000 | Improvements Assessment | $113,587 CAD |
| Land Assessment | $2,094,577 CAD | Total Assessment | $2,208,164 CAD |
Property Taxes
Parcel Number
R1-17-38-35-0A00-00005-0000
Land Assessment
$2,094,577 CAD
Improvements Assessment
$113,587 CAD
Total Assessment
$2,208,164 CAD
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8761 FL-78 - Dew Drop Inn RV Park
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