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 Market96
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) 933-6973
Source:
Hopegainesrealestate
Added: Jul 20
Changed: Oct 4
Last Checked: Oct 7 at 3:28PM
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
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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 / Yr
$57,927
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
15
Residential units
80%
Occupancy
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
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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
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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 - 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
