2821 SW 3rd Terrace Okeechobee, FL 34974
Estimated payment $10,575/month
About This Lot
Fully leased 17,640 sq ft commercial plaza on 1.291 acres. Recently remodeled and known as Cedar Plaza, this plaza consist of 14 individual leasable bays. Current leases in place are 2 year leases with a built in annual escalator, current actual income reflects a 7% cap rate at asking price with room to grow income. Located just off Hwy 441 South and 1 block West of Home Depot makes this property a great income producer for investors.
Property Details
Property Type
- Land
Est. Annual Taxes
- $14,836
Additional Features
- 1.29 Acre Lot
- City Lot
Community Details
- No Home Owners Association
- North Lake Bus Park Subdivision
Listing and Financial Details
- Assessor Parcel Number R12837350020000000020
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $16,137 | $908,315 | $219,375 | $688,940 |
| 2024 | $14,836 | $824,958 | $219,375 | $605,583 |
| 2023 | $13,783 | $766,663 | $202,500 | $564,163 |
| 2022 | $11,760 | $636,439 | $141,844 | $494,595 |
| 2021 | $8,429 | $393,286 | $131,831 | $261,455 |
| 2020 | $9,625 | $477,040 | $131,831 | $345,209 |
| 2019 | $9,429 | $465,434 | $131,831 | $333,603 |
| 2018 | $9,535 | $462,375 | $131,831 | $330,544 |
| 2017 | $9,032 | $442,142 | $0 | $0 |
| 2016 | $10,496 | $433,333 | $0 | $0 |
| 2015 | $10,805 | $433,333 | $0 | $0 |
| 2014 | -- | $411,306 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/06/2025 03/06/25 | For Sale | $1,795,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $425,000 | Attorney | |
| Warranty Deed | $1,000,000 | Lake Okeechobee Title Inc | |
| Quit Claim Deed | -- | -- | |
| Quit Claim Deed | -- | -- | |
| Deed | $340,000 | -- | |
| Quit Claim Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $300,000 | Seller Take Back |
Source: BeachesMLS (Greater Fort Lauderdale)
MLS Number: F10490739
APN: R1-28-37-35-0020-00000-0020
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