8951 HWY 78 W - Okeechobee Lake RV Park 66 Unit Apartment Building Offered at $4,378,560 CAD at a 7.40% Cap Rate Okeechobee, FL 34974

Okeechobee Lake RV Park is strategically located just 6 miles—or approximately a 10-minute drive—from downtown Okeechobee, offering a significant competitive advantage over most parks in the area due to its accessibility and proximity to local amenities. The park features 70 total pads, with 66 currently occupied by lot renters, providing consistent income. On-site amenities include a clubhouse, a freestanding bathroom and shower facility, and a utility room, enhancing convenience and livability for residents.
Out Parcel: Additionally, the property includes a 6,743-square-foot commercial building fronting Highway 78 W. Originally built in 1960 as a restaurant, this structure is currently vacant and represents a strong value-add opportunity for commercial or mixed-use redevelopment. It possesses significant exposure and plenty of parking along the major traffic artery.
In light of CoStar’s limited field structure for mobile home and RV park assets, the operating stack for Dew Drop Inn is presented below to accurately reflect income and expenses.
Annualized Operating Data
Current Rents Market Rent
Scheduled Gross Income: $417,000 $455,400
Less Vacancy Rate Reserve: 54,210 13.00% 36,187 7.95%
Effective Operating Income: 362,790 419,213
Pass-Thru Income 48,132 48,132
Total Income 410,922 $467,345
Less Expenses: 174,457 42.46% 174,457 37.33%
Net Operating Income: $236,465 $292,888