Building Details

Year Built 1970

Listing Agency: THINKING REAL ESTATE

Listed By: LAURA Dwyer SCHLECTE · License #6502106966 Show Phone

Source: Vmrealestatemichigan

Added: May 5 Changed: Oct 4 Last Checked: Oct 5 at 7:16PM

Report an Issue

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 THINKING REAL ESTATE

Investment Insights

Based on property information with market context.

This mobile home park spans three parcels totaling approximately 9 acres and includes five homes. Four homes are seller-owned, while the fifth contributes lot rent. The property measures 3,620 square feet and was built in 1970. The homes are described as average to good in condition, with no known major deferred maintenance. Utilities are owner-paid for the duplex units; the property is served by three wells and four septic systems.

Additional vacant acreage is part of the property. Future home sites or other uses may be considered, subject to municipal and zoning approval. The property has access to the highway and the Village of Parma.

Key Highlights

• Three parcels totaling approximately 9 acres
• Five mobile homes; seller owns four and receives lot rent from the fifth
• Fully occupied mobile home park

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,458

Cap Rate

5.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$449,160 $449.2K

Cap Rate 7%

$320,829 $320.8K

Cap Rate 9%

$249,533 $249.5K

Market Conditions

NOI Build-Up for 3,620 SF

Gross rent

$43.4K $12.00/SF

− Vacancy

−$2.6K −$0.72/SF

EGI

$40.8K $11.28/SF

− OpEx

−$18.4K −$5.08/SF

NOI

$22.5K $6.20/SF

Area

Jackson County, MI

Vacancy

6.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$449,160

Cap Rate 7%

$320,829

Cap Rate 9%

$249,533

Alternative Uses

Best Use

Apartment 5plus

$320.8K

$280.7K – $374.3K (±1% cap)

NOI $22,458 @ 7.0% cap · market cap 5.69%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$577.9K

$505.6K – $674.2K (±1% cap)

NOI $40,451 @ 7.0% cap · market cap 10.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Mobile home & RV ...

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Real Estate Agency Auto Parts Store Big Box & Wholesale Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

100%

Occupancy

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

84

Businesses Nearby

Explore this area Business Placement

Demographics for 49269, MI

5,874

Population

2,083

Households

2.8

Avg Household Size

42

Median Age

20%

College-Educated

92%

High-School Grad

55.8 sq mi

ZIP Area

105

Density / Sq Mi

$83,933

Median Household Income

$50,372

Median Earnings

$967

Median Rent

$200,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mobile home & rv parks located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Property with Service Bays

2511 N Parma Road, Parma, MI 49269

$435,000

4,800 SF

View details

Corner Pizza Restaurant Building

100 Elizabeth Street, Parma, MI 49269

$199,000

2,095 SF

View details

Two-Unit Mixed-Use Property

218 W Main St, Parma, MI 49269

$129,900

2,200 SF

View details

Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Five homes occupy a multi-parcel property with additional land and on-site water and septic systems.

Where is this mobile home & rv park located?

The property is located at 2364 N Parma Rd Parma, MI.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: Three parcels totaling approximately 9 acres; Five mobile homes; seller owns four and receives lot rent from the fifth; Fully occupied mobile home park