Mobile Home Park With 4
New
For Sale
$230,000
11117 Weeks Rd, Foley, AL 36535
County property with RA—Rural Agriculture zoning and a mix of renovated, occupied, and extensively repair-needing homes.
Property Size792 SF
Lot Size2.00 Acres
Price / SF$290.40
Days on Market6
Property Features for 11117 Weeks Rd
General Information
Standard status
Active
Size
792 SF
Lot size
2.00 Acres
Property subtype
Residential Income
Zoning
RA- Rural Agriculture
Occupancy
75%
Property Condition
Severity
Major
Evidence
needs extensive renovating
Additional Details
Multifamily Units
4
Listing Agency:
Terri T Realty
(251) 202-7057
Listed By:
Randall Allen · License #68588
(251) 202-7057
Source:
Exprealty
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 18 at 11:15AM
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 Terri T Realty
Investment Insights
Based on property information with market context.
This mobile home and RV park property encompasses approximately 2 acres with four mobile homes. Three homes are described as livable, including two that have been renovated, while the remaining home requires extensive renovation. The units date from 1970 to 2005 and are offered in their current as-is, where-is condition, without expressed or implied warranties.
The property is located in the county at 11117 Weeks Rd in Foley, Alabama, and carries RA—Rural Agriculture zoning. Three of the four homes are occupied, so interior access requires an appointment. One home is leased on a month-to-month basis. Buyers are responsible for verifying property details during due diligence.
The property is located in the county at 11117 Weeks Rd in Foley, Alabama, and carries RA—Rural Agriculture zoning. Three of the four homes are occupied, so interior access requires an appointment. One home is leased on a month-to-month basis. Buyers are responsible for verifying property details during due diligence.
Key Highlights
- Approximately 2 +/- acres with 4 mobile homes
- 3 homes are described as livable; 1 requires extensive renovation
- 2 of the 4 mobile homes 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
75%
Occupancy
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
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - County property with RA—Rural Agriculture zoning and a mix of renovated, occupied, and extensively repair-needing homes.
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: Approximately 2 +/- acres with 4 mobile homes; 3 homes are described as livable; 1 requires extensive renovation; 2 of the 4 mobile homes have been renovated
