Mobile Home Park with 15
For Sale
$850,000
1802 Shadow Run Loop, Tallahassee, FL 32305
Well-maintained park with 15 mobile home sites; 12 currently occupied generating monthly rental income.
Property Size6,360 SF
Lot Size5.00 Acres
Price / SF$133.65
Days on Market51
Property Features for 1802 Shadow Run Loop
General Information
Standard status
Active
Size
6,360 SF
Lot size
5.00 Acres
Occupancy
80%
Additional Details
Multifamily Units
15
Listing Agency:
Primesouth Fezler, Russell and
Listed By:
Sedita Cayson · License #670760
(850) 329-7000
Source:
Hopegainesrealestate
Added: Jul 20
Changed: Sep 8
Last Checked: Sep 7 at 12:19PM
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 Primesouth Fezler, Russell and
Investment Insights
Based on property information with market context.
This well-maintained mobile home park sits on 5 acres and features 15 mobile home sites. Mature oak trees provide a shaded, established setting, and the property is currently producing income with 12 of the 15 homes occupied. Rental income is approximately $9,800 per month, with additional upside potential as the remaining sites are leased.
The park is located along the historic St. Marks Trail and is within walking distance of downtown Woodville. The offering is described as turnkey, with additional information available in Exhibit A, including current rental rates and lease details.
The park is located along the historic St. Marks Trail and is within walking distance of downtown Woodville. The offering is described as turnkey, with additional information available in Exhibit A, including current rental rates and lease details.
Key Highlights
- 5‑acre mobile home park with 15 mobile home sites
- 12 of 15 units currently occupied, generating approximately $9,800 per month in rental income
- Additional upside potential as the remaining mobile home sites are leased
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
$57,927
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
6.81%
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%
$1,158,540
$1.2M
Cap Rate 7%
$827,529
$827.5K
Cap Rate 9%
$643,633
$643.6K
Market Conditions
NOI Build-Up for 6,360 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
$114.5K $18.00/SF
− Vacancy
−$9.2K −$1.44/SF
EGI
$105.3K $16.56/SF
− OpEx
−$47.4K −$7.45/SF
NOI
$57.9K $9.11/SF
Area
Tallahassee, FL
Vacancy
8.00%
Lease Rate
$18.00 /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%
$1,158,540
Cap Rate 7%
$827,529
Cap Rate 9%
$643,633
Alternative Uses
Best Use
Apartment 5plus
$827.5K
$724.1K – $965.5K
NOI $57,927 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,144 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
80%
Occupancy
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Explore this area
Business Placement
Demographics for 32305, FL
19,199
Population
8,517
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
83%
High-School Grad
96.0 sq mi
ZIP Area
200
Density / Sq Mi
$47,694
Median Household Income
$32,166
Median Earnings
$923
Median Rent
$154,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Well-maintained park with 15 mobile home sites; 12 currently occupied generating monthly rental income.
Where is this mobile home & rv park located?
The property is located at 1802 Shadow Run Loop Tallahassee, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5‑acre mobile home park with 15 mobile home sites; 12 of 15 units currently occupied, generating approximately $9,800 per month in rental income; Additional upside potential as the remaining mobile home sites are leased
