55+ Mobile Home Park
For Sale
$279,000
106 Panorama Dr, Novato, CA 94949
Set within a 55+ Marin Valley Mobile Country Club, with convenient street parking or two tandem spaces.
Property Size1,440 SF
Price / SF$193.75
Days on Market86
Property Features for 106 Panorama Dr
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
2
Property subtype
Manufactured In Park
Additional Details
Highway Access
Yes
Listing Agency:
Eleven Real Estate
3284143
Listed By:
Erinn Millar
3284143
Source:
Exprealty
Added: May 30
Changed: Aug 23
Last Checked: Aug 23 at 3:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Eleven Real Estate
Investment Insights
Based on property information with market context.
This for-sale residence is located within Marin Valley Mobile Country Club, a 55+ community. The property includes access for daily arrivals and parking options on-site, with street parking available along Marin Valley or the use of two tandem spaces at the property.
Directions place the property off Hwy 101, with navigation via Nave Drive and Bolling Drive to Marin Valley Drive, then a right on Marin Valley Drive and a left on Panorama Drive. The property is in Marin County, CA, with parking handled either in the adjacent street area or via the tandem spaces provided at the site.
For buyers seeking a maintained, age-restricted lifestyle setting, this is a practical option within a dedicated mobile country club environment. Parking flexibility can help reduce everyday friction for occupants and guests, and the community’s 55+ focus may appeal to residents looking for a quieter, age-aligned community dynamic.
Directions place the property off Hwy 101, with navigation via Nave Drive and Bolling Drive to Marin Valley Drive, then a right on Marin Valley Drive and a left on Panorama Drive. The property is in Marin County, CA, with parking handled either in the adjacent street area or via the tandem spaces provided at the site.
For buyers seeking a maintained, age-restricted lifestyle setting, this is a practical option within a dedicated mobile country club environment. Parking flexibility can help reduce everyday friction for occupants and guests, and the community’s 55+ focus may appeal to residents looking for a quieter, age-aligned community dynamic.
Key Highlights
- Located in Marin Valley Mobile Country Club, a 55+ community
- Built in 1976
- Central heating and central air conditioning
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
$20,860
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
7.48%
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%
$417,200
$417.2K
Cap Rate 7%
$298,000
$298.0K
Cap Rate 9%
$231,778
$231.8K
Market Conditions
NOI Build-Up for 1,440 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
$40.3K $27.96/SF
− Vacancy
−$2.3K −$1.62/SF
EGI
$37.9K $26.34/SF
− OpEx
−$17.1K −$11.85/SF
NOI
$20.9K $14.49/SF
Area
Marin County, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
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%
$417,200
Cap Rate 7%
$298,000
Cap Rate 9%
$231,778
Alternative Uses
Best Use
Apartment 5plus
$298.0K
$260.8K – $347.7K
NOI $20,860 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.03M
$6.15M – $8.21M
NOI $492,367 @ 7.0% cap · market cap 176.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 94949, CA
17,588
Population
7,541
Households
2.3
Avg Household Size
46
Median Age
48%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
1,313
Density / Sq Mi
$116,101
Median Household Income
$60,149
Median Earnings
$2,596
Median Rent
$1,075,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Set within a 55+ Marin Valley Mobile Country Club, with convenient street parking or two tandem spaces.
Where is this mobile home & rv park located?
The property is located at 106 Panorama Dr Novato, CA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Located in Marin Valley Mobile Country Club, a 55+ community; Built in 1976; Central heating and central air conditioning
