Mobile Home Park with Expansion
For Sale
$400,000
2 Jasmine Park Place, Candler, NC 28715
Mobile home park on a 2.7-acre lot with vacant space for at least four additional pads.
Property Size1,982 SF
Lot Size2.70 Acres
Days on Market50
Property Features for 2 Jasmine Park Place
General Information
Standard status
Active
Size
1,982 SF
Lot size
2.70 Acres
Property subtype
Manufactured Home Park
Additional Details
Highway Access
Yes
Amenities
Features: Cleared, Corner Lot, Green Area, Wooded, Size: 2.7, Size Units: Acres
Description: Metal
Description: Partial
Days on Market: 23, Listing Price: 400000, Status: Active
Construction Materials: Other - See Remarks, Year Built: 1982, Construction Type: Manufactured
City: Candler, State: NC, Zip: 28715, County: Buncombe, Directions: Follow US-74 ALT W to Old Haywood Rd 10 min (5.0 mi) Follow Old Haywood Rd and Starnes Cove Rd to Jasmine Park Pl
Zoning: NS
Sewer: Septic Installed, Water Source: City
Auction Y/N: 0
Building Details
Building Size
1,982 SF
Year Built
1982
Listing Agency:
Keller Williams Professionals
(828) 254-7253
Listed By:
George Lycan
(828) 231-4246
Source:
Blackstreaminternational
Added: Jul 17
Changed: Sep 3
Last Checked: Sep 4 at 6:16AM
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 Keller Williams Professionals
Investment Insights
Based on property information with market context.
This mobile home park is offered for sale on a 2.7-acre lot and is set in a quiet community setting near the entrance of the newly designated Deaverview Mtn Park. The property is described as needing some TLC, with opportunities identified for additional pad development using the vacant portion of the site.
The location is near the Pisgah National Forest and the Great Smoky Mountains, with quick access to downtown Asheville and Interstate 40 for travel and daily commutes. The remarks also note the potential to add at least four units on the vacant area, and that rolling pad relocation could add additional pads.
As presented, this asset combines existing park operations with on-site vacant land that may support further expansion planning, subject to the buyer’s due diligence.
The location is near the Pisgah National Forest and the Great Smoky Mountains, with quick access to downtown Asheville and Interstate 40 for travel and daily commutes. The remarks also note the potential to add at least four units on the vacant area, and that rolling pad relocation could add additional pads.
As presented, this asset combines existing park operations with on-site vacant land that may support further expansion planning, subject to the buyer’s due diligence.
Key Highlights
- Mobile home park on a 2.7‑acre lot with vacant space for at least 4 additional pads
- Park offers expansion potential with at least 4 new units on the vacant portion
- Rolling pad relocation may allow adding 4 more pads
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
$19,322
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
4.83%
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%
$386,440
$386.4K
Cap Rate 7%
$276,029
$276.0K
Cap Rate 9%
$214,689
$214.7K
Market Conditions
NOI Build-Up for 1,982 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
$40.2K $20.28/SF
− Vacancy
−$5.1K −$2.56/SF
EGI
$35.1K $17.72/SF
− OpEx
−$15.8K −$7.98/SF
NOI
$19.3K $9.75/SF
Area
Buncombe County, NC
Vacancy
12.60%
Lease Rate
$20.28 /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%
$386,440
Cap Rate 7%
$276,029
Cap Rate 9%
$214,689
Alternative Uses
Best Use
Apartment 5plus
$276.0K
$241.5K – $322.0K
NOI $19,322 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$626.7K
$548.4K – $731.2K
NOI $43,871 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 28715, NC
27,810
Population
12,519
Households
2.2
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
78.1 sq mi
ZIP Area
356
Density / Sq Mi
$70,950
Median Household Income
$38,620
Median Earnings
$1,208
Median Rent
$291,900
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 - Mobile home park on a 2.7-acre lot with vacant space for at least four additional pads.
Where is this mobile home & rv park located?
The property is located at 2 Jasmine Park Place Candler, NC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Mobile home park on a 2.7‑acre lot with vacant space for at least 4 additional pads; Park offers expansion potential with at least 4 new units on the vacant portion; Rolling pad relocation may allow adding 4 more pads
