Four-Home Mobile Home
New
For Sale
$230,000
11117 Weeks Rd, Foley, AL 36535
MULTI_FAMILY - Other - Foley, AL
Property Size792 SF
Lot Size2.08 Acres
Price / SF$290.40
Days on Market3
Property Features for 11117 Weeks Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
OtherSeeRemarks,OutsideCo
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1
Parking features
None
Patio and Porch features
Porch
Pets allowed
Yes
Fireplace
1
Appliances
Electric Range
Subdivision
Magnolia Springs
Elementary school
Magnolia School
Middle school
Foley Middle
High school
Foley High
Directions
From Hwy 49 go West on Laurent Road approximately 1/2 mile to Weeks Rd and turn Left. Property is on the right.
Standard status
Active
APN
55-08-43-0-000-007.003
Size
792 SF
Lot size
2.08 Acres
Taxes and HOA fees
Tax Description
183 X 631(S) Irr Com At The Sw Cor Of Se1 4 Of Sec 34, Th N 121.7 To Pob, Th Nw 648.4, Th Ne 154, Th Se 549.5, Th S 183 To Pob Less That Pt Lying In R W Alg E Sd Nicholas We Eks Gr Sec 43-T7s-R3e (Qcd Wd) In#1094038
Tax Annual Amount
1075
Legal Description
183 X 631(S) Irr Com At The Sw Cor Of Se1 4 Of Sec 34, Th N 121.7 To Pob, Th Nw 648.4, Th Ne 154, Th Se 549.5, Th S 183 To Pob Less That Pt Lying In R W Alg E Sd Nicholas We Eks Gr Sec 43-T7s-R3e (Qcd Wd) In#1094038
Utilities
Cooling system
Window Unit(s)
Building Details
Year built
2005
Floors in Building
1
Flooring type
Vinyl
Architectural style
Other
Listing Agency:
Terri T Realty
(251) 284-6671
Listed By:
Randall Allen · License #68588
(251) 202-7057
Added: Aug 13
Last Checked: Aug 15 at 4:06AM
MLS# 408551
Copyright © 2026 Baldwin 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 2.081-acre county property includes four mobile homes dating from 1970 to 2005. Three homes are described as livable, including two that have been renovated, while the fourth requires extensive renovation. One home is occupied under a month-to-month rental arrangement, and three of the four homes are occupied overall.
The property is zoned RA—Rural Agriculture and is being offered in as-is, where-is condition without expressed or implied warranties. The listing includes a 792-square-foot property size, electric range, vinyl flooring, window-unit cooling, porches, and a fireplace. An appointment is required for access because three homes are occupied.
The property is zoned RA—Rural Agriculture and is being offered in as-is, where-is condition without expressed or implied warranties. The listing includes a 792-square-foot property size, electric range, vinyl flooring, window-unit cooling, porches, and a fireplace. An appointment is required for access because three homes are occupied.
Key Highlights
- 2.081‑acre county property with four mobile homes
- Three of four homes are occupied
- Three homes are livable; two have been renovated
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
$6,456
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
2.81%
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%
$129,120
$129.1K
Cap Rate 7%
$92,229
$92.2K
Cap Rate 9%
$71,733
$71.7K
Market Conditions
NOI Build-Up for 792 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
$12.4K $15.60/SF
− Vacancy
−$618 −$0.78/SF
EGI
$11.7K $14.82/SF
− OpEx
−$5.3K −$6.67/SF
NOI
$6.5K $8.15/SF
Area
Baldwin County, AL
Vacancy
5.00%
Lease Rate
$15.60 /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%
$129,120
Cap Rate 7%
$92,229
Cap Rate 9%
$71,733
Alternative Uses
Best Use
Apartment 5plus
$92.2K
$80.7K – $107.6K
NOI $6,456 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$190.5K
$166.7K – $222.2K
NOI $13,332 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - County property with four mobile homes, including renovated units and one home requiring extensive work.
Where is this mobile home & rv park located?
The property is located at 11117 Weeks Rd Foley, AL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 2.081‑acre county property with four mobile homes; Three of four homes are occupied; Three homes are livable; two have been renovated
