710 2Nd Ave, Okeechobee, FL 34972
2.28 Acres of Industrial Land Offered at $1,300,000 USD in Okeechobee, FL 34972
Asking Price $1,300,000
- Property Type
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Land, Industrial
Listing Contacts
- Property Info
Property Overview
This 2.28-acre ground-leased industrial property offers a unique investment opportunity with a tenant currently occupying the land. Located directly on a rail line, the site includes a 15,428 square-foot building with both grade-level and dock-high loading, presenting potential value-add through renovation. Positioned off US Hwy 441 with direct access to the CSX Rail Line, this centrally located property benefits from a robust transportation network, providing quick access to metropolitan areas, seaports, and airports in West Palm Beach, Ft. Lauderdale, Miami, and Orlando. Situated in Okeechobee, a hub for heavy industry and agriculture, the property is just 30 minutes from Florida’s Turnpike and I-95. The current tenant has four years remaining on the initial lease term, with an additional five-year option and 3% annual rent increases, offering a 6.9% cap rate. Located on the north shore of Lake Okeechobee, the largest lake in Florida, and is connected to the Atlantic and Gulf of Mexico by the Okeechobee Waterway. The area is home to several international companies, enhancing its industrial appeal.
Highlights
- Current Tenant: Occupying the land with 4 years remaining on the initial lease term, plus a 5-year option and 3% annual rent increases
- Building: 15,428 square-foot with grade-level and dock-high loading
- Location: Directly on a rail line with access to CSX Rail Line, off US Hwy 441
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