Mobile Home Park with 4
For Sale
$499,000
2204 SHIRAH RD, Auburndale, FL 33823
Four occupied mobile homes on one parcel, with room for future expansion and rental income potential.
Property Size4,312 SF
Days on Market104
Property Features for 2204 SHIRAH RD
General Information
Standard status
Active
Size
4,312 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,996
Building Details
Building Size
4,312 SF
Year Built
1930
Listing Agency:
CENTURY 21 MYERS REALTY
Listed By:
Brent Morse · License #3108388
(407) 463-6952
Source:
Kingofrealestate
Added: Jun 17
Changed: Sep 23
Last Checked: Sep 26 at 11:20AM
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 CENTURY 21 MYERS REALTY
Investment Insights
Based on property information with market context.
This for-sale investment property includes four mobile homes located on a spacious parcel. The remarks indicate that all units are currently occupied, contributing to an estimated rental income of approximately $3,300 per month. The site is described as having room to grow, providing flexibility for future expansion considerations.
The property is surrounded by mature trees and is positioned in a peaceful, rural setting. At the same time, it’s described as offering convenient access to nearby amenities, with a car-dependent lifestyle indicated by a walk score of 0 and a somewhat bikeable rating reflected by a bike score of 25.
For buyers and investors seeking a multi-unit residential income asset, the property’s current occupancy and four-home layout can support an operator’s plan for ongoing rental management. With the added note of room to grow and future development potential, it may also appeal to those looking to evaluate how the parcel could be utilized beyond the existing homes. This is a straightforward way to acquire a small, income-producing mobile home park with an active rental component today.
The property is surrounded by mature trees and is positioned in a peaceful, rural setting. At the same time, it’s described as offering convenient access to nearby amenities, with a car-dependent lifestyle indicated by a walk score of 0 and a somewhat bikeable rating reflected by a bike score of 25.
For buyers and investors seeking a multi-unit residential income asset, the property’s current occupancy and four-home layout can support an operator’s plan for ongoing rental management. With the added note of room to grow and future development potential, it may also appeal to those looking to evaluate how the parcel could be utilized beyond the existing homes. This is a straightforward way to acquire a small, income-producing mobile home park with an active rental component today.
Key Highlights
- 1930‑built multi‑unit property with 4 mobile homes
- All 4 mobile homes are currently occupied
- Potential rental income of approximately $3,300 per month
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
$40,843
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
8.18%
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%
$816,860
$816.9K
Cap Rate 7%
$583,471
$583.5K
Cap Rate 9%
$453,811
$453.8K
Market Conditions
NOI Build-Up for 4,312 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
$79.2K $18.36/SF
− Vacancy
−$4.9K −$1.14/SF
EGI
$74.3K $17.22/SF
− OpEx
−$33.4K −$7.75/SF
NOI
$40.8K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /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%
$816,860
Cap Rate 7%
$583,471
Cap Rate 9%
$453,811
Alternative Uses
Best Use
Apartment 5plus
$583.5K
$510.5K – $680.7K
NOI $40,843 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$906.7K – $1.21M
NOI $72,535 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 33823, FL
33,733
Population
15,383
Households
2.2
Avg Household Size
42
Median Age
17%
College-Educated
86%
High-School Grad
34.9 sq mi
ZIP Area
967
Density / Sq Mi
$64,248
Median Household Income
$39,187
Median Earnings
$1,068
Median Rent
$234,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Four occupied mobile homes on one parcel, with room for future expansion and rental income potential.
Where is this mobile home & rv park located?
The property is located at 2204 SHIRAH RD Auburndale, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1930‑built multi‑unit property with 4 mobile homes; All 4 mobile homes are currently occupied; Potential rental income of approximately $3,300 per month
