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Palm Drive Trailer Park 3307 36th Ave 24 Unit Mobile Home Park $1,150,000 ($47,917/Unit) 6.95% Cap Rate Okeechobee, FL 34974
Investment Highlights
- The mobile homes are on a city maintained street
- The mobile homes back a n access canal to the lake
- $146,535 Scheduled Gross Income; $79,871 NOI
- Lots are individually plotted
- Well maintained mobile homes and stable tenant base
Executive Summary
Palm Drive Trailer Park presents a compelling value add investment opportunity located just 4 miles (approximately a 10-minute drive) from downtown Okeechobee, offering residents convenient access to local services, retail, and employment centers. This close proximity provides the park with a distinct competitive advantage within the Okeechobee market.
The property consists of 24 pad sites rented on a month-to-month basis and is situated along 36th Avenue, a publicly maintained city street, ensuring dependable infrastructure and municipal service access. The park is also canal-front, with direct water access to Lake Okeechobee, one of Florida’s premier recreational and fishing destinations. This waterfront setting enhances tenant appeal while contributing intrinsic long-term value to the asset.
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.
View attached OM for rent roll and all income and expenses. Owner will entertain all offers
Gamma presentation https://gamma.app/docs/Palm-Drive-RV-Park-Investment-Opportunity-csf5iy9cneufysv
3307 & 3611 SE 36 Ave
The property consists of 24 pad sites rented on a month-to-month basis and is situated along 36th Avenue, a publicly maintained city street, ensuring dependable infrastructure and municipal service access. The park is also canal-front, with direct water access to Lake Okeechobee, one of Florida’s premier recreational and fishing destinations. This waterfront setting enhances tenant appeal while contributing intrinsic long-term value to the asset.
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.
View attached OM for rent roll and all income and expenses. Owner will entertain all offers
Gamma presentation https://gamma.app/docs/Palm-Drive-RV-Park-Investment-Opportunity-csf5iy9cneufysv
3307 & 3611 SE 36 Ave
Property Facts
| Price | $1,150,000 | Building Class | C |
| Price Per Unit | $47,917 | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 3 SF |
| Cap Rate | 6.95% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Manufactured Housing/Mobile Home |
| Price | $1,150,000 |
| Price Per Unit | $47,917 |
| Sale Type | Investment |
| Cap Rate | 6.95% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 3 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1980 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | - |
1 1
Property Taxes
| Parcel Number | R1-25-37-35-0050-00040-0650 | Improvements Assessment | $30,915 |
| Land Assessment | $911,577 | Total Assessment | $942,492 |
Property Taxes
Parcel Number
R1-25-37-35-0050-00040-0650
Land Assessment
$911,577
Improvements Assessment
$30,915
Total Assessment
$942,492
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Palm Drive Trailer Park | 3307 36th Ave
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