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9700 SW Conners Highway, Okeechobee, FL | $500,000
So many opportunities with this unique, history-filled property. Formerly the locally renowned Cypress Lodge, established in 1963, the property is now a non-functioning 8-room motel with a 7, 300 sq ft restaurant on a 1. 293 ac lot zoned for MIxed Use. Metal Roof and CBS construction, and oversized parking lot, both the motel and restaurant need a complete renovation. There is an adjacent residential property consisting . 756 ac that is platted for 4 lots and was formerly part of the motel/restaurant lot that is also for sale. This lot is directly in front of the Lake Okeechobee's Rim Canal and sits directly across from the S-135 Channel Lock that is open to the public and managed by the South Florida Water Management District. See Supplement for more remarks. This property is next door the to the J & S Fish Camp, which draws freshwater anglers from around the world. The finger canal in the back of the property leads directly to the rim canal. Property is prime candidate for a Buyer looking to restore the old landmark restaurant/motel or do a tear-down to redevelop the property, which fronts a light traffic highway.
Features
- Property Type: Business
- Construction: Wood Siding, CBS
- Utilities: Electricity Available, Other, Water Available
- Parking: Free, Boat Access/Parking
- Levels: 1
- Heating: Electric, Central Building
- Cooling: Ceiling Fan(s), Electric, Central Building
- Units: 8
- Zoning: 1200
- Year Built: 1963
- Acreage: 1.29
- Est. Taxes: $4,042
- MLS#: B26031805
- Website: https://www.raveis.com
/prop/B26031805/9700swconnershighway_okeechobee_fl?source=qrflyer
All listings featuring the BMLS logo are provided by BeachesMLS Inc. This information is not verified for authenticity or accuracy and is not guaranteed.Listing courtesy of KW INNOVATIONS
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888.699.8876
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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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305.922.5393
Pedro.Delgadillo@raveis.com
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
9700 SW Conners Highway, Okeechobee, FL
$500,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $400,000 | $400,000 | $400,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.250% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.474% | 6.640% | 5.972% |
| Monthly Tax Payment | $337 | $337 | $337 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $2,463 | $2,526 | $3,322 |
| Total Monthly Payment | $2,892 | $2,955 | $3,751 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388