Commercial property in Okeechobee, Florida № 842168

Property description

Cloverport Mobile Home Park is a 27 lot/pad and one CBS studio complex with laundry facilities rented on an annual basis. All units are tenant owned, park sits on over 2.5 acres, with three entrances, sub-metered public water & septic.

Currently there are 11 vacant lots, each having electric and sanitation hookups. The value-add for this opportunity is providing mobile homes on the vacant lots increasing the capitalization rate to 9.2% with a capital expense $599,500. See Offer Memorandum attached to MLS

Cloverport MHP is located minutes from Lake Okeechobee, Kissimmee River and downtown Okeechobee with its dining and shopping, and less than 6 miles from the up-and-coming Bass Pro Resort. Currently there are 2 mobile homes that were purchased by the tenants, each paying $600/mth.