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Multi Family Mobile Home Parks at 8791 Highway 78, Okeechobee

Four mobile home parks with 175 units near downtown Okeechobee, offering affordable housing and stable cash flow potential.

$9,995,000

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MLS #F10503959

Listing Updated: 2026-07-12 06:42:06

Listed By: Media Realty

Overview

This commercial offering includes four mobile home parks located closely along Highway 78 in Okeechobee, Florida. The parks collectively feature 175 units, with two parks contiguous, totaling 123 pads. Each park offers lot rents, with tenant-owned mobile homes, and some vacant pads available for lease or development. Positioned near downtown Okeechobee and Lake Okeechobee, these parks benefit from local demand for affordable housing and low operational costs. The properties include Cloverport, Dew Drop, Okeechobee Lake, and Palm Drive Trailer Parks, each with unique attributes such as proximity to amenities, water access, and recent improvements. This portfolio presents an opportunity for buyers interested in multi-family mobile home park assets in a market with steady tenant interest.

Property Highlights

Four mobile home parks with 175 units total; located near downtown Okeechobee; parks include Cloverport, Dew Drop, Okeechobee Lake, and Palm Drive; mix of tenant-owned homes and vacant pads; close to Lake Okeechobee; affordable housing demand; low operational costs; positive market dynamics.

Property Details

City: Okeechobee

State: FL

Zip Code: 34971

Address: 8791 Highway 78, Okeechobee FL 34971

Year Built: 1984

Property Type: Commercial Sale

Property Sub Type: Multi Family

Listing Office Name: Media Realty

County: Okeechobee County

Garage Spaces:

Parking Features:

Interior Features:

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $0

Annual Tax: $122,000

Days On Market: 386 Days

Original Listing Description

VALUE ADD | Okeechobee | Four mobile home parks (175 units) in very close proximity to one another with 2 parks being contiguous and represents 123 pads. There is a positive appetite to acquire mobile home parks in Okeechobee driven by several compelling market dynamics: Affordable Housing Demand, Interest in Stable, Cash-Flowing Assets, Local Market Appeal and Low Operational Costs. THE PARKS A) Cloverport Mobile Home Park/28 Units; 7650 Highway 78 W. B) Dew Drop Mobile Home Park/57 Pads; 8791 Highway 78 W. C) Okeechobee Lake Mobile Home Park/66 Pads; 8951 Highway 78 W. D) Palm Drive Trailer Park/ 24 Pads; 3307 and 3611 SE 36th Ave. DOWNLOAD the Offer Memorandum for salient data including individual park descriptions, rent rolls and income & expense. Highlights of the individual Parks:Cloverport Mobile Home Park; 7650 Highway 78 W. OkeechobeeCloverport Mobile Home Park is located minutes from Lake Okeechobee, Kissimmee River and downtown Okeechobee (2.7 miles) with its dining and shopping, & less than 6 miles from the up-and-coming Bass Pro Resort at 10430 W Highway 78.Cloverport Mobile Home Park is a 27 lot/pad and one CBS studio apartment complex with laundry facilities rented on an annual basis. And sits on over 2.5 acres, with three entrances, sub-metered public water & septic. 6 units are park owned, 15 units are tenants owned (lot rent only), 1 unit is financed and there are 6 vacant pads. Water expense is passed through to the tenant's owner mobile homes. There are 5 brand 560 SF new mobile one bedroom/one bath homes recently delivered and installed, estimated to rent for $1200 per month. The value-add lies in leasing the 6 vacant pads or installing new MH's at a cost of approx. $58,000 per unit providing a 9.5%-10% cap rate with an investment estimated at $348,000.Dew Drop Mobile Home Park; 8791 Highway 78 W., Okeechobee The Dew Drop Mobile Home Park sits on 3.9 acres and contains 57 pads with one folio. The park consists of lot rents only as each mobile home is tenant owned.The MHP is less than 5 miles to the central Business district of downtown OkeechobeeOkeechobee Lake Mobile Home Park; 8951 Highway 78 W., OkeechobeeOkeechobee Lake Mobile Home Park contains 66 pads (lot rent only)This park is contiguous to Dew Drop Mobile Home Park and together they have a combined 126 pads. The park consists of lot rents only as each mobile home is tenant owned.The MHP is less than 5 miles to the central Business district of downtown OkeechobeeThe park has one folio numberPalm Drive Trailer Park; 3307 and 3611 SE 36th Ave; OkeechobeeThe property possesses two folio numbers and is situated on a canal with access to Lake Okeechobee. The park has 24 pads and collects rent for lot rent only.

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

8791 Highway 78, Okeechobee FL 34971

About This Neighborhood

Located along Highway 78 near downtown Okeechobee, these parks benefit from a community with access to shopping, dining, and recreational amenities. The area is known for its affordability and proximity to Lake Okeechobee, offering residents a blend of small-town living and outdoor activities. The neighborhood supports a diverse population with a focus on practical housing solutions.

Walkability & Lifestyle

While the parks are primarily residential and vehicle-accessible, nearby downtown Okeechobee offers walkable amenities such as dining, shopping, and services. Residents can enjoy proximity to Lake Okeechobee and local parks for outdoor activities, contributing to a balanced lifestyle.

Things To Do Nearby

Residents have access to a variety of recreational activities including boating and fishing on Lake Okeechobee, visiting local parks, and exploring nearby dining and shopping options in downtown Okeechobee. The area supports outdoor enthusiasts and those seeking a quieter lifestyle with convenient amenities.

Nearby Schools

The area around Highway 78 in Okeechobee provides access to local schools serving the community. Families benefit from convenient school options within reasonable distances, supporting residents with children and contributing to neighborhood stability.

Why Buyers Like This Area

Buyers appreciate these mobile home parks for their location near downtown Okeechobee, affordability, and the opportunity to acquire multiple parks in one transaction. The parks offer a mix of tenant-owned homes and vacant pads, allowing for flexible management. The area's demand for affordable housing and low operating costs make these properties appealing to investors.

Investment Potential

These mobile home parks in Okeechobee offer a stable asset class with steady lot rent income and opportunities to lease vacant pads or add new homes. The local market shows demand for affordable housing, which supports tenant interest and occupancy. Operational costs remain low, enhancing the appeal for buyers seeking cash-flowing properties. Proximity to downtown and recreational areas adds to the investment's attractiveness without promising specific returns.

Market Trends

The Okeechobee real estate market for mobile home parks reflects consistent demand driven by affordable housing needs and interest in stable rental assets. Inventory of such properties remains limited, making available parks attractive to buyers. Market dynamics favor long-term interest due to the area's economic and demographic characteristics.

Rental Income Potential

Rental income is generated primarily through lot rents, with most mobile homes tenant-owned. The parks include some vacant pads that can be leased or developed with new homes to increase revenue. Seasonal and local demand for affordable housing supports tenant occupancy, making these parks viable for steady lot rent collection.