Dew Drop & Okeechobee Lake Mobile Home Parks 8791 FL-78 Hwy 123 Unit Mobile Home Park $9,204,650 CAD ($74,835 CAD/Unit) 6% Cap Rate Okeechobee, FL 34974

Value Add - Owner Financing Available. Ownership has recently experienced a shift in motivation and has aggressively reduced the asking price, creating a compelling entry point for investors seeking immediate cash flow with future upside in a supply-constrained submarket. Please review the attached Offer Memorandum
Investment Overview
The offering presents an exceptional opportunity to acquire two contiguous mobile home and RV parks—Dew Drop RV Park and Okeechobee Lake RV Park—positioned on a combined 10.2 acres with canal frontage providing direct access to Lake Okeechobee, one of Florida’s most iconic natural landmarks.
Property Highlights
Dew Drop RV Park
Located at 8761 Highway 78 West, Dew Drop was originally developed in 1988 and spans 3.9 acres featuring 57 well-maintained, rent-only pads. The park is thoughtfully designed with dual access points, paved interior roadways, and sub-metered public water with septic infrastructure in place. Tenants are billed for their pro-rata share of electricity, ensuring efficient operational cost recovery. The property’s layout and mature landscaping reflect a well-established, stabilized community environment.
Okeechobee Lake RV Park
Situated at 9851 Highway 78 West, Okeechobee Lake RV Park encompasses 66 rent-only pads and offers residents an enhanced living experience with a clubhouse, freestanding bathroom and shower facility, and a utility room for on-site convenience. Tenants are billed for water as a pass-through expense, supporting consistent NOI performance.
Adding to its appeal, the property includes a 6,743± SF commercial building fronting Highway 78—formerly a restaurant—offering tremendous value-add potential for commercial or mixed-use redevelopment, capitalizing on the site’s visibility and frontage.
Location & Market Position
The parks are strategically located just six miles (approximately 5–10 minutes) from Downtown Okeechobee, providing residents quick access to local shopping, dining, and essential services. This proximity delivers a distinct competitive edge over many comparable parks in the region, which are often located farther from the city’s core.
Current lot rents of $450–$500 per month remain below the prevailing market average of approximately $550 per month, offering immediate rent-growth potential and meaningful upside in cash flow through incremental adjustments.