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    24828 State Highway 38 Elkton, OR 97436

    Sponsored
    For Sale
    $1,550,000

    F - Elkton, OR

    Lot size:
    8.50 Acres
    Days on Market:
    31
    Last Refresh:
    Feb 22 at 3:06 pm

    Property Features for 24828 State Highway 38

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    CRE
    APN
    M84239
    Parking
    4
    Parking features
    Assigned, Driveway, Garage, Other, RV, Workshop
    Interior features
    High Speed Internet, Wired for Data
    Lot size
    8.50 Acres

    Utilities

    Heating system
    Ductless (Heating), Electric (Heating), Heat Pump (Heating), Other (Heating)
    Cooling system
    Central Air, Ductless, Heat Pump
    Water front features
    River Front
    Water front
    1

    Building Details

    Year built
    1972
    Floors in Building
    2
    Flooring type
    Carpet, Concrete, Laminate, Other, Tile, Vinyl
    Building materials
    Frame, Unknown
    Roof type
    Composition, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Chris Pfau

    Coldwell Banker Pro West R.E (541) 773-6868

    Listing agent Chris Pfau (541) 773-6868 License #201241465

    Listing date Jan 23, 2026

    MLS# 220213354 Listing URL

    Copyright © 2026 Southern Oregon MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Riverfront RV and Manufactured Home Community

    Sawyer Rapids RV Park is located on approximately 8.5 acres along the Umpqua River. The property is known for fishing, scenic beauty, and a relaxed riverfront setting. The park offers a mix of RV sites, manufactured home spaces, short-term cabin rentals, and seasonal campsites, supported by on-site revenue streams. Guests have direct river access and proximity to the Umpqua Valley and the Oregon Coast recreation corridor. Park-wide fiber optic internet was installed in 2024. The property reflects an estimated 2025 Net Operating Income of approximately $119,900, representing an implied capitalization rate of approximately 7.7 percent.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Elkton
    County
    Douglas
    State
    Oregon
    Longitude
    -123.667967
    Latitude
    43.682198

    Nearby Similar for Sale

    • $499,000

      Elkton Restaurant and Bakery Opportunity

      Renowned restaurant and bakery with wood-fired pizza oven for sale.
      14836 State Highway 38, Elkton, OR 97436
      View Details

    FAQs

    What type of property is this?
    Mobile home & RV park - Rare riverfront RV park on 8.5 acres with diverse income streams.
    Where is this mobile home & rv park located?
    The property is located at 24828 State Highway 38 Elkton, OR.
    What is the asking price?
    The asking price for this property is $1,550,000.
    What are key features of this property?
    This property features: - Rare riverfront RV and manufactured home community on the Umpqua River, known for exceptional fishing and scenic beauty.; - Diverse mix of RV sites, manufactured home spaces, cabin rentals, and seasonal campsites, creating multiple revenue streams.; - Direct river access and proximity to the Umpqua Valley and Oregon Coast recreation corridor.
    (541) 773-6868
    Request Owner's contact information
    24828 State Highway 38 Elkton, OR 97436
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    Elkton, OR 97436
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    24828 State Highway 38 Elkton, OR 97436
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    We can help!
    Listing Contact
    Chris Pfau
    Real Estate License ID: 201241465
    (541) 773-6868 (458) 220-8881
    Learn more
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