Mobile Home Park With
For Sale
$350,000
1634 Rankin Ave, Tallahassee, FL 32310
Four mobile homes and an on-site warehouse occupy an R-3-zoned property with redevelopment provisions.
Property Size3,696 SF
Lot Size4.32 Acres
Price / SF$94.70
Days on Market81
Property Features for 1634 Rankin Ave
General Information
Standard status
Active
Size
3,696 SF
Lot size
4.32 Acres
Property subtype
Multi-Family
Zoning
R-3
Building Details
Year Built
1991
Buildings
5
Listing Agency:
Bevis Realty
Listed By:
Barry Bevis · License #3131208
(850) 491-3600
Source:
Hopegainesrealestate
Added: Jul 27
Changed: Oct 10
Last Checked: Oct 7 at 1:14PM
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 Bevis Realty
Investment Insights
Based on property information with market context.
This 4.32-acre mobile home park includes four mobile homes and a 3,696-square-foot warehouse. The property was built in 1991 and is located within the R-3 zoning district, which permits redevelopment with potential for 8 dwelling units per acre.
The site backs to a City of Tallahassee park and nature preserve. Florida State University’s Rec SportsPlex and a new lacrosse field are less than half a mile away. The property is not located in a flood zone.
The site backs to a City of Tallahassee park and nature preserve. Florida State University’s Rec SportsPlex and a new lacrosse field are less than half a mile away. The property is not located in a flood zone.
Key Highlights
- Four mobile homes plus one warehouse on 4.32 acres
- R‑3 zoning allows potential redevelopment at 8 dwelling units per acre
- 3,696‑square‑foot warehouse included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,802
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,040
$576.0K
Cap Rate 7%
$411,457
$411.5K
Cap Rate 9%
$320,022
$320.0K
Market Conditions
NOI Build-Up for 3,696 SF
Gross rent
$35.5K $9.60/SF
− Vacancy
−$1.6K −$0.43/SF
EGI
$33.9K $9.17/SF
− OpEx
−$5.1K −$1.38/SF
NOI
$28.8K $7.79/SF
Area
Tallahassee, FL
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,040
Cap Rate 7%
$411,457
Cap Rate 9%
$320,022
Alternative Uses
Best Use
Apartment 5plus
$480.9K
$420.8K – $561.1K
NOI $33,663 @ 7.0% cap · market cap 9.62%
Second Best
Warehouse
$411.5K
$360.0K – $480.0K
NOI $28,802 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$906.1K
$792.8K – $1.06M
NOI $63,427 @ 7.0% cap · market cap 18.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 32310, FL
17,209
Population
7,621
Households
2.3
Avg Household Size
32
Median Age
22%
College-Educated
85%
High-School Grad
91.9 sq mi
ZIP Area
187
Density / Sq Mi
$38,493
Median Household Income
$24,177
Median Earnings
$1,025
Median Rent
$118,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Four mobile homes and an on-site warehouse occupy an R-3-zoned property with redevelopment provisions.
Where is this mobile home & rv park located?
The property is located at 1634 Rankin Ave Tallahassee, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four mobile homes plus one warehouse on 4.32 acres; R‑3 zoning allows potential redevelopment at 8 dwelling units per acre; 3,696‑square‑foot warehouse included
