Building Details

Year Built 2006

Listing Agency: Keller Williams Northern New York

Listed By: Noah Taylor · License #10401359495 Show Phone

Source: Skinnercnyrealty

Added: Sep 9 Last Checked: Sep 9 at 4:00PM

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Investment Insights

Based on property information with market context.

This mobile home park occupies 1.7 acres and contains four mobile homes. One seller-owned residence is occupied by a tenant, while the other three homes are tenant-owned and associated with lot-rent payments. The seller-owned home is located at the far-left position when viewing the property from the front.

Built in 2006, the property is situated at 28671 Martin Rd N in Evans Mills, New York. The site is minutes from local restaurants, schools, and Fort Drum, with access to the surrounding Evans Mills area. The existing mix of one landlord-owned home and three tenant-owned homes provides a defined operating structure for the mobile home park.

Key Highlights

• 1.7‑acre mobile home park property
• Four mobile homes are accommodated on site
• One seller‑owned home is tenant‑occupied

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

$7,955

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

4.55%

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%

$159,100 $159.1K

Cap Rate 7%

$113,643 $113.6K

Cap Rate 9%

$88,389 $88.4K

Market Conditions

NOI Build-Up for 1,080 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

$15.6K $14.40/SF

− Vacancy

−$1.1K −$1.01/SF

EGI

$14.5K $13.39/SF

− OpEx

−$6.5K −$6.03/SF

NOI

$8.0K $7.37/SF

Area

Jefferson County, NY

Vacancy

7.00%

Lease Rate

$14.40 /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%

$159,100

Cap Rate 7%

$113,643

Cap Rate 9%

$88,389

Alternative Uses

Best Use

Apartment 5plus

$113.6K

$99.4K – $132.6K (±1% cap)

NOI $7,955 @ 7.0% cap · market cap 4.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$297.7K

$260.5K – $347.3K (±1% cap)

NOI $20,840 @ 7.0% cap · market cap 11.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Mobile home & RV ...

Suggested Use

Top Pick Storage Facility Garden Center Real Estate Agency Auto Repair Shop Gym & Fitness Center Cosmetic Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

51

Businesses Nearby

Explore this area Business Placement

Demographics for 13637, NY

4,980

Population

2,491

Households

2

Avg Household Size

27

Median Age

19%

College-Educated

95%

High-School Grad

35.2 sq mi

ZIP Area

141

Density / Sq Mi

$62,786

Median Household Income

$36,867

Median Earnings

$1,318

Median Rent

$189,600

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

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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?

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Frequently Asked Questions

What type of property is this?

Mobile home & RV park - The property combines one occupied seller-owned home with three tenant-owned homes under a lot-rent arrangement.

Where is this mobile home & rv park located?

The property is located at 28671 Martin Rd N Evans Mills, NY.

What is the asking price?

The asking price for this property is $175,000.

What are key features of this property?

This property features: 1.7‑acre mobile home park property; Four mobile homes are accommodated on site; One seller‑owned home is tenant‑occupied