Spring Hill Mobile Home
For Sale
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20303 Old Somerset Acres Ln, Spring Hill, FL 34610
13-unit mobile home park in fast-growing Spring Hill, Florida.
Property Size8,000 SF
Price / SF$121.88
Days on Market246
Property Features for 20303 Old Somerset Acres Ln
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Mobile Home Park
Zoning
RMH
Occupancy
100%
Building Details
Year Built
1973
Year Renovated
2022
Stories
1
Units
13
Listing Agency:
KW Commercial Boca Raton East
(561) 305-6161
Listed By:
Stephen Molinari · License #3530706
Source:
Crexi
Added: Dec 10, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:37AM
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 KW Commercial Boca Raton East
Investment Insights
Based on property information with market context.
The property is a 13-unit mobile home park located in Spring Hill, Florida. All 13 units are park-owned. The property offers stable cash flow and value-add potential. Significant renovations and upgrades have been completed across multiple units. The property contains 8,000 square feet.
Key Highlights
- Fully park‑owned mobile home park with 13 units, offering enhanced operational control and income consistency.
- Located in the fast‑growing Spring Hill, FL market.
- Offers stable, reliable cash flow with substantial value‑add potential.
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
$84,554
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
8.67%
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%
$1,691,080
$1.7M
Cap Rate 7%
$1,207,914
$1.2M
Cap Rate 9%
$939,489
$939.5K
Market Conditions
NOI Build-Up for 8,000 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
$163.2K $20.40/SF
− Vacancy
−$9.5K −$1.18/SF
EGI
$153.7K $19.22/SF
− OpEx
−$69.2K −$8.65/SF
NOI
$84.6K $10.57/SF
Area
Spring Hill, FL
Vacancy
5.80%
Lease Rate
$20.40 /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%
$1,691,080
Cap Rate 7%
$1,207,914
Cap Rate 9%
$939,489
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,554 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $179,044 @ 7.0% cap · market cap 18.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 34610, FL
15,400
Population
6,447
Households
2.4
Avg Household Size
44
Median Age
23%
College-Educated
87%
High-School Grad
68.0 sq mi
ZIP Area
226
Density / Sq Mi
$73,878
Median Household Income
$46,090
Median Earnings
$1,265
Median Rent
$254,100
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 - 13-unit mobile home park in fast-growing Spring Hill, Florida.
Where is this mobile home & rv park located?
The property is located at 20303 Old Somerset Acres Ln Spring Hill, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Fully park‑owned mobile home park with 13 units, offering enhanced operational control and income consistency.; Located in the fast‑growing Spring Hill, FL market.; Offers stable, reliable cash flow with substantial value‑add potential.
