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    Seventeen-Unit Investment Property on 6.5 Acres Title is generated by Realmo AI

    18250 N 4400 W, Fielding, UT 84311

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    For Sale
    $2,065,000

    Rural investment property with seventeen rental units and extensive farm amenities.

    Type:Multi Family
    Property size:
    16,000 SF
    Lot size:
    6.50 Acres
    Price / SF:
    $129/SF
    Added:
    Nov 18, 2024
    Days on Market:
    558
    Last Refresh:
    May 27 at 11:12 am

    Property Features for 18250 N 4400 W

    General Information

    Standard status
    Active
    Size
    16,000 SF
    Lot size
    6.50 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Jesse Boone

    Listing agent Jesse Boone License #7652251

    Listing office Redzone Real Estate

    Listing date Nov 18, 2024

    Source Exitrealty

    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 Redzone Real Estate

    HighLights

    • Seventeen rental units on 6.5 acres, offering immediate rental income potential.
    • Includes significant water rights totaling 15.87 ACFT and 2.52 acres of irrigation water.
    • Multiple outbuildings including a 60x50 barn, a 45x40 workshop with HVAC, and multiple garages.
    • All rental units have dedicated utilities: hot water heater, central furnace, propane tank, power meter, irrigation hydrant, and culinary water connection.
    • Large, permitted underground community septic system recently inspected.
    • Professional property management is in place and willing to stay on with the new owner.

    Overview

    Located in rural Box Elder County, Utah, this listing encompasses a total of seventeen rental units situated on 6.5 acres, including parcels 07-028-0016 (M&J Mobile Home Park), 07-028-0004, and 07-028-0003. Sixteen of the rental units are park-owned, converted mobile homes that now sit on concrete foundations. Each unit is equipped with laundry hookups, a dedicated hot water heater, a dedicated central furnace, a dedicated propane tank, a dedicated power meter from Rocky Mountain Power, a dedicated irrigation water hydrant, and a dedicated culinary water connection from Ukon Water Company in Fielding. The property features a large underground community septic system consisting of eight tanks, permitted by the Utah Department of Environmental Quality and recently inspected. There are four pasture areas, a detached two-car garage with power and an automatic door opener, a detached 25X25 one-car garage with a shop that has power, a 60x50 barn with power, a chicken coop, and a 45X40 workshop with HVAC, a dedicated power meter, and water. Two livestock shelters are located in the pastures. The property includes two underground water wells with two separate pump houses, and water rights #29-4183, #29-3776, and #29-3933 totaling 15.87 ACFT and including 2.52 acres of irrigation water. The farm portion of the property has previously hosted cattle, horses, sheep, goats, chickens, ducks, turkeys, a peacock, and pigs. Currently used as a rental investment, the property has professional property management in place, and the manager is willing to stay on with a new owner upon request. All current leases can be canceled with a 30-day notice upon the sale. Parcel 07-028-0016 is adjacent to 07-028-0004 and 07-028-0003.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $282.2k $17.64
    − Vacancy −$17.8k −$1.11
    EGI $264.5k $16.53
    − OpEx −$119.0k −$7.44
    NOI $145.5k $9.09
    16,000 SF · lease $17.64/SF/yr · vacancy 6.30% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $2.08M
    $1.82M – $2.42M (±1% cap)
    NOI $145,452 @ 7.0% cap · market cap 7.04%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $4.16M
    $3.64M – $4.85M (±1% cap)
    NOI $290,852 @ 7.0% cap · market cap 14.08%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Fielding
    County
    Box Elder
    State
    Utah
    Longitude
    -112.1261586
    Latitude
    41.8394328

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    FAQs

    What type of property is this?
    Mobile home & RV park - Rural investment property with seventeen rental units and extensive farm amenities.
    Where is this mobile home & rv park located?
    The property is located at 18250 N 4400 W Fielding, UT.
    What is the asking price?
    The asking price for this property is $2,065,000.
    What are key features of this property?
    This property features: Seventeen rental units on 6.5 acres, offering immediate rental income potential.; Includes **significant water rights totaling 15.87 ACFT and 2.52 acres of irrigation water.**; **Multiple outbuildings including a 60x50 barn, a 45x40 workshop with HVAC, and multiple garages.**
    (801) 554-2894
    We can help!
    Listing Contact
    Jesse Boone
    Real Estate License ID: 7652251
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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