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    Highway 178 Opelousas, LA 70570

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    For Sale
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    Mobile home park with RV conversion potential in Opelousas, LA.

    Lot size:
    4.55 Acres

    Property Features for Highway 178

    General Information

    Lot size
    4.55 Acres

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    Listing Contact
    William Capone
    William Capone
    Source: Moodyscre

    Listing Agency: Sands Investment Group (SIG) | Fort Lauderdale Listing Agent: William Capone

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    Sunset MHP Development Opportunity

    The Sunset MHP Development is available for sale, presenting an infill opportunity. The property features existing infrastructure and utilities, with potential for RV park conversion, which could double the site count to a total of 60 lots. There are currently 4 occupied park-owned homes, 2 tenant-owned homes, and 1 occupied home not being charged rent for the onsite manager. The property has city water (not sub-metered), direct-billed electric, and a private lagoon septic system. New pavement has been installed. The current rent being paid is $1,250 for 3 park-owned units, $600 for 1 park-owned unit, and $300 for 2 lots, resulting in a current monthly rent collection of $4,950, or $59,400 gross per year. The property is located on Highway 178 in Opelousas, LA. RV park conversion can be done by splitting the current sites (all 200 amp) to 30/50/20 amp connections. The sellers are willing to do this conversion with acceptable offer terms. Sellers also own a dealership in town and can send home buyers to vacant lots for new owners to help infill the park.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Opelousas
    County
    St. Landry
    State
    Louisiana
    Longitude
    -92.158709
    Latitude
    30.422925

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    FAQs

    What type of property is this?
    Mobile home & RV park - Mobile home park with RV conversion potential in Opelousas, LA.
    Where is this mobile home & rv park located?
    The property is located at Highway 178 Opelousas, LA.
    What are key features of this property?
    This property features: - RV Park Conversion Possibility: Easily double site count to 60 lots with existing infrastructure and utilities.; - Excellent Infill Opportunity: Ready-to-go development in a desirable location.; - Existing Income: Current monthly rent collected is $4,950, totaling $59,400 gross annually.
    (954) 723-8342 Call to check price and availability
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    Highway 178 Opelousas, LA 70570
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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
    Highway 178 Opelousas, LA 70570
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing William Capone
    William Capone
    (954) 723-8342 (844) 474-4666
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