Mobile Home Park with
New
For Sale
$2,900,000
3105 Penny Loop, Lake Wales, FL 33859
The park combines mobile home sites with a duplex and individually metered electric service.
Property Size15,406 SF
Lot Size1.85 Acres
Price / SF$188.24
Days on Market5
Property Features for 3105 Penny Loop
General Information
Standard status
Active
Size
15,406 SF
Class
C
Lot size
1.85 Acres
Property subtype
Multi-Family
Zoning
LCC
Occupancy
92%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
24
Building Details
Building Size
15,406 SF
Units
24
Listing Agency:
Saunders Real Estate
Listed By:
Michael Mutz · License #3466975
(863) 393-8910
Source:
Commercialcafe
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 11 at 3:34AM
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 Saunders Real Estate
Investment Insights
Based on property information with market context.
New Harmony Mobile Home Park is a 1.85-acre property in Lake Wales with 15,406 square feet across the asset. The site includes a 23-pad park, 22 mobile homes, and a duplex constructed in 2009. Electric service is individually metered, and reported occupancy is 92%; one pad is open.
US Highway 27 provides access to State Road 60 and Interstate 4. The property is within reach of Winter Haven, Haines City, Bartow, and Lakeland, as well as the Orlando and Tampa metropolitan areas.
US Highway 27 provides access to State Road 60 and Interstate 4. The property is within reach of Winter Haven, Haines City, Bartow, and Lakeland, as well as the Orlando and Tampa metropolitan areas.
Key Highlights
- 1.85‑acre mobile home park with a 23‑pad layout
- 22 mobile homes on site, plus a duplex built in 2009
- 15,406 SF across the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,924
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,918,480
$2.9M
Cap Rate 7%
$2,084,629
$2.1M
Cap Rate 9%
$1,621,378
$1.6M
Market Conditions
NOI Build-Up for 15,406 SF
Gross rent
$282.9K $18.36/SF
− Vacancy
−$17.5K −$1.14/SF
EGI
$265.3K $17.22/SF
− OpEx
−$119.4K −$7.75/SF
NOI
$145.9K $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 Rate 5%
$2,918,480
Cap Rate 7%
$2,084,629
Cap Rate 9%
$1,621,378
Alternative Uses
Best Use
Apartment 5plus
$2.08M
$1.82M – $2.43M
NOI $145,924 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,154 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
24
Residential units
92%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 33859, FL
10,866
Population
5,739
Households
1.9
Avg Household Size
52
Median Age
23%
College-Educated
89%
High-School Grad
45.5 sq mi
ZIP Area
239
Density / Sq Mi
$61,871
Median Household Income
$32,943
Median Earnings
$1,232
Median Rent
$200,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The park combines mobile home sites with a duplex and individually metered electric service.
Where is this mobile home & rv park located?
The property is located at 3105 Penny Loop Lake Wales, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 1.85‑acre mobile home park with a 23‑pad layout; 22 mobile homes on site, plus a duplex built in 2009; 15,406 SF across the property
