Mobile Home Park with
For Sale
$5,799,000
17653 Vierra Canyon Road, Salinas, CA 93907
Income-producing property combines mobile home park operations, residences, and office space on a multi-parcel site.
Property Size12,000 SF
Price / SF$483.25
Days on Market338
Property Features for 17653 Vierra Canyon Road
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
100
Property subtype
5+ Units / Five or More Units
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$23,969
Amenities
https://app.frame.io/presentations/f4263be0-85dd-499c-9f9c-ce499d59a284
Appliances - Vary by Unit, Storage
4
Building Details
Year Built
1999
Buildings
13
Listing Agency:
RE/MAX Empire Properties
(831) 682-0438
Listed By:
ConnieJo Stubblefield · License #01707320
(831) 682-0438
Source:
Compass
Added: Sep 27, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:40PM
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 RE/MAX Empire Properties
Investment Insights
Based on property information with market context.
This 12,000-square-foot income property includes a permitted mobile home park with capacity for 7 units, currently serving 6 mobile homes. The offering also contains four single-family residences and an office, with six legal parcels conveyed together. Mobile homes include both HUD- and DMV-licensed units. The property was built in 1999 and has been maintained and updated over time.
A private water system serves the property. The site accommodates oversized vehicles, while shopping, dining, and public transportation are located just steps away. The included addresses are 17653, 17655, 17657, 17659, 17661, and 17663 Vierra Canyon Road in Salinas, California 93907.
A private water system serves the property. The site accommodates oversized vehicles, while shopping, dining, and public transportation are located just steps away. The included addresses are 17653, 17655, 17657, 17659, 17661, and 17663 Vierra Canyon Road in Salinas, California 93907.
Key Highlights
- Permitted 7‑space mobile home park with 6 mobile homes currently in place
- Four single‑family residences plus an office included
- Six separate legal parcels sold together
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
$193,050
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
3.33%
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%
$3,861,000
$3.9M
Cap Rate 7%
$2,757,857
$2.8M
Cap Rate 9%
$2,145,000
$2.1M
Market Conditions
NOI Build-Up for 12,000 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
$360.0K $30.00/SF
− Vacancy
−$9.0K −$0.75/SF
EGI
$351.0K $29.25/SF
− OpEx
−$158.0K −$13.16/SF
NOI
$193.1K $16.09/SF
Area
Salinas, CA
Vacancy
2.50%
Lease Rate
$30.00 /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%
$3,861,000
Cap Rate 7%
$2,757,857
Cap Rate 9%
$2,145,000
Alternative Uses
Best Use
Apartment 5plus
$2.76M
$2.41M – $3.22M
NOI $193,050 @ 7.0% cap · market cap 3.33%
Second Best
Mixed Use
$2.26M
$1.98M – $2.64M
NOI $158,400 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,499 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 93907, CA
23,315
Population
7,659
Households
3
Avg Household Size
39
Median Age
22%
College-Educated
74%
High-School Grad
54.5 sq mi
ZIP Area
428
Density / Sq Mi
$103,268
Median Household Income
$38,199
Median Earnings
$2,122
Median Rent
$676,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Income-producing property combines mobile home park operations, residences, and office space on a multi-parcel site.
Where is this mobile home & rv park located?
The property is located at 17653 Vierra Canyon Road Salinas, CA.
What is the asking price?
The asking price for this property is $5,799,000.
What are key features of this property?
This property features: Permitted 7‑space mobile home park with 6 mobile homes currently in place; Four single‑family residences plus an office included; Six separate legal parcels sold together
