Building Details

Year built 1960

Floors in Building 1

Flooring type Vinyl

Building materials Block

Roof type Metal

Listing Agency: Keller Williams Realty River C k***@kw.com Show Phone

Listed By: Brent Newsome · License #79178 Show Phone

Added: Feb 18 Changed: Sep 6 Last Checked: Sep 12 at 10:06AM

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MLS# E103082

Copyright © 2026 East Alabama Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 1.5-acre RV park includes 8 rental hookups, all currently occupied, plus a 5-bay area for boat and RV storage. The property also features a 1,500-square-foot office building that has been remodeled with a metal roof and HVAC system. Construction includes block walls, vinyl flooring, electric heating and cooling, public water, and septic service. The site is fenced and includes two new septic systems.

Located at the corner of Lee Road 379 and Lee Road 334 in Salem, the property is near Lake Harding, grocery stores, and restaurants. Zoning is C, and the office building dates to 1960.

Key Highlights

• 1.5‑acre RV park with 8 rental hookups
• All 8 RV hookups are currently occupied
• 5‑bay boat and RV storage area

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$18,600

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

3.38%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$372,000 $372.0K

Cap Rate 7%

$265,714 $265.7K

Cap Rate 9%

$206,667 $206.7K

Market Conditions

NOI Build-Up for 1,500 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$30.1K $20.04/SF

− Vacancy

−$5.3K −$3.51/SF

EGI

$24.8K $16.53/SF

− OpEx

−$6.2K −$4.13/SF

NOI

$18.6K $12.40/SF

Area

Lee County, AL

Vacancy

17.50%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$372,000

Cap Rate 7%

$265,714

Cap Rate 9%

$206,667

Alternative Uses

Best Use

Office B

$265.7K

$232.5K – $310.0K (±1% cap)

NOI $18,600 @ 7.0% cap · market cap 3.38%

Second Best

Apartment 5plus

$171.4K

$149.9K – $199.9K (±1% cap)

NOI $11,995 @ 7.0% cap · market cap 2.18%

Theoretical Best

Office A

$365.8K

$320.1K – $426.8K (±1% cap)

NOI $25,609 @ 7.0% cap · market cap 4.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Mobile home & RV ...

Suggested Use

Top Pick Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 36874, AL

9,173

Population

4,502

Households

2

Avg Household Size

41

Median Age

20%

College-Educated

88%

High-School Grad

111.9 sq mi

ZIP Area

82

Density / Sq Mi

$63,211

Median Household Income

$42,471

Median Earnings

$629

Median Rent

$189,900

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this mobile home & rv parks located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Fenced commercial property combines RV accommodations, boat and RV storage, and a remodeled office building.

Where is this mobile home & rv park located?

The property is located at 5330 Lee Road 379 Salem, AL.

What is the asking price?

The asking price for this property is $549,900.

What are key features of this property?

This property features: 1.5‑acre RV park with 8 rental hookups; All 8 RV hookups are currently occupied; 5‑bay boat and RV storage area