Mobile Home Park with Expansion
For Sale
$340,000
162 Lancaster Road, Forest City, NC 28043
Established park with tenant-occupied lots and additional capacity for future occupancy.
Property Size1,990 SF
Lot Size10.12 Acres
Days on Market49
Property Features for 162 Lancaster Road
General Information
Standard status
Active
Size
1,990 SF
Lot size
10.12 Acres
Property subtype
Manufactured Home Park
Amenities
Green Area, Level, Wooded
Additional parcels description:, Parcel Number: 1601371, Assessed Value: $158,000
Listing ID: CAR4419291, Standard Status: Active, MLS Status: Active, Property Subtype: Manufactured Home Park, Special Conditions: None
Built in 1990
County/Parish: Rutherford
Road Responsibility: Publicly Maintained Road, Private Maintained Road, Road Surface: Dirt, Gravel, Paved
Building Details
Building Size
1,990 SF
Year Built
1990
Listing Agency:
Leslie Horne and Associates
(864) 707-2315
Listed By:
Leslie Horne · License #72159
(864) 809-3880
Source:
Blackstreaminternational
Added: Sep 2
Changed: Oct 19
Last Checked: Oct 19 at 10:45AM
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 Leslie Horne and Associates
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Investment Insights
Based on property information with market context.
This mobile home park spans approximately 10.12 acres and includes 24 total lots. Four lots are currently occupied by tenants who privately own the mobile homes; those homes are excluded from the sale. Additional lots are available, providing room for expanded occupancy subject to applicable requirements and verification.
Located at 162 Lancaster Road in Forest City, the property fronts a county road. Tenants are responsible for their own electric service, limiting the owner’s direct responsibility for that utility. Buyers should verify permitted uses, utility availability, and requirements associated with additional occupancy.
Located at 162 Lancaster Road in Forest City, the property fronts a county road. Tenants are responsible for their own electric service, limiting the owner’s direct responsibility for that utility. Buyers should verify permitted uses, utility availability, and requirements associated with additional occupancy.
Key Highlights
- Approximately 10.12‑acre mobile home park
- 24 total lots
- Four tenant‑occupied lots with privately owned mobile homes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,772
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$215,440
$215.4K
Cap Rate 7%
$153,886
$153.9K
Cap Rate 9%
$119,689
$119.7K
Market Conditions
NOI Build-Up for 1,990 SF
Gross rent
$21.0K $10.56/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$19.6K $9.84/SF
− OpEx
−$8.8K −$4.43/SF
NOI
$10.8K $5.41/SF
Area
Rutherford County, NC
Vacancy
6.80%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$215,440
Cap Rate 7%
$153,886
Cap Rate 9%
$119,689
Alternative Uses
Best Use
Apartment 5plus
$153.9K
$134.7K – $179.5K
NOI $10,772 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.8K
$384.0K – $512.0K
NOI $30,719 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
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Business Placement
Demographics for 28043, NC
20,183
Population
9,356
Households
2.2
Avg Household Size
43
Median Age
18%
College-Educated
84%
High-School Grad
66.3 sq mi
ZIP Area
304
Density / Sq Mi
$41,746
Median Household Income
$29,909
Median Earnings
$744
Median Rent
$176,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Established park with tenant-occupied lots and additional capacity for future occupancy.
Where is this mobile home & rv park located?
The property is located at 162 Lancaster Road Forest City, NC.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Approximately 10.12‑acre mobile home park; 24 total lots; Four tenant‑occupied lots with privately owned mobile homes
