Listing Agency: Century 21 Galloway Realty

Listed By: Jeffrey Tonkin · License #30TO0955654 Show Phone

Source: Nicholcityrealty

Added: Mar 10 Changed: Sep 9 Last Checked: Sep 15 at 10:48AM

Report an Issue

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 Century 21 Galloway Realty

Investment Insights

Based on property information with market context.

This property features 25 certified sites and frontage on Oneida Lake, bordering the Oswego County Recreational Trail. Public water has been installed, and public sewer is planned. The property includes a 3-bedroom home with a yard, lake view, and a large storage barn. The mobile home park is being sold with 6 existing single-wide trailers, 4 of which are currently rented. Potential uses include year-round tenants, vacation rentals, or snowbird tenants, with options for the park to provide housing or simply offer lot leases. The waterfront lot is suitable for developing a recreational area for tenants and has previously accommodated a dock for the owner's house.

Key Highlights

• Frontage on Oneida Lake with lake view from primary home
• 25 Certified Sites suitable for mobile homes or other development
• Public water just installed; public sewer coming soon

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

$13,901

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%

$278,020 $278.0K

Cap Rate 7%

$198,586 $198.6K

Cap Rate 9%

$154,456 $154.5K

Market Conditions

NOI Build-Up for 1,812 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

$26.7K $14.76/SF

− Vacancy

−$1.5K −$0.81/SF

EGI

$25.3K $13.95/SF

− OpEx

−$11.4K −$6.28/SF

NOI

$13.9K $7.67/SF

Area

Oswego County, NY

Vacancy

5.50%

Lease Rate

$14.76 /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%

$278,020

Cap Rate 7%

$198,586

Cap Rate 9%

$154,456

Alternative Uses

Best Use

Apartment 5plus

$198.6K

$173.8K – $231.7K (±1% cap)

NOI $13,901 @ 7.0% cap · market cap 2.81%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$361.4K

$316.3K – $421.7K (±1% cap)

NOI $25,300 @ 7.0% cap · market cap 5.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Mobile home & RV ...

Suggested Use

Top Pick Building Supply Real Estate Agency Furniture & Home Goods Auto Repair Shop Kitchen & Bath Showroom Restaurant

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

31

Businesses Nearby

Explore this area Business Placement

Demographics for 13044, NY

2,506

Population

1,216

Households

2.1

Avg Household Size

46

Median Age

13%

College-Educated

85%

High-School Grad

30.1 sq mi

ZIP Area

83

Density / Sq Mi

$69,300

Median Household Income

$44,153

Median Earnings

$883

Median Rent

$144,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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 - Mobile home park with lake frontage and development potential.

Where is this mobile home & rv park located?

The property is located at 1298-1302 State Route 49 Constantia, NY.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: Frontage on Oneida Lake with **lake view from primary home**; 25 Certified Sites suitable for mobile homes or other development; Public water just installed; public sewer coming soon