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    496 County Road 109 Daleville, AL 36322

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    For Sale
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    Cash-flowing, value-add mobile home park near Fort Novosel.

    Lot size:
    16.15 Acres

    Property Features for 496 County Road 109

    General Information

    Standard status
    Active
    Lot size
    16.15 Acres

    We can help!

    Listing Contact
    Glenn Esterson
    Source: Crexi

    Listing Agency: Marcus & Millichap - Charlotte Uptown Listing Agent: Glenn Esterson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Red Oak MHP Investment Opportunity

    Red Oak MHP, located in Daleville, AL, presents a value-add investment opportunity. The property consists of 80 total sites with potential upside through infill, rent growth, and operational improvements. The location is near Fort Novosel, formerly Fort Rucker, in the Wiregrass region of Southeast Alabama. The area benefits from stable employment in the military, aviation training, healthcare, and regional service industries. The property includes 28 tenant-owned homes, 8 rented park-owned homes, and 9 rent-to-own units, along with 10 vacant mobile home lots, 14 vacant RV lots, and 8 vacant park-owned home units. The RV portion of the park is newly built with 15 RV lots. The average mobile home lot rent is approximately $392, with projected market lot rents around $475 per month. Red Oak is serviced by public water and private septic. Utilities on mobile home lots are largely tenant-paid via direct billing. Roads are privately maintained and in functional condition. The community is located in a stable residential area and is not in a Flood Zone or an Opportunity Zone. The property is offered at a purchase price of $2,000,000, reflecting an estimated 8.1% cap rate on in-place operations. Investors may achieve upside by infilling vacant sites, stabilizing park-owned home occupancy, increasing rents toward market levels, and improving utility expense recapture.
    Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Law Firm Auto Repair Shop Auto Parts Store Storage Facility Bar & Pub Car Rental Facility Cosmetic Store Home Appliance Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Daleville
    County
    Dale
    State
    Alabama
    Longitude
    -85.760399
    Latitude
    31.296989

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    FAQs

    What type of property is this?
    Mobile home & RV park - Cash-flowing, value-add mobile home park near Fort Novosel.
    Where is this mobile home & rv park located?
    The property is located at 496 County Road 109 Daleville, AL.
    What are key features of this property?
    This property features: - Value-add opportunity with significant upside potential, projected to reach a 19.4% Cap Rate; - Located in Daleville, AL, near Fort Novosel, a key workforce housing hub; - Cash-flowing investment with an estimated 8.1% cap rate
    Request Owner's contact information
    496 County Road 109 Daleville, AL 36322
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    Daleville, AL 36322
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    496 County Road 109 Daleville, AL 36322
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    We can help!
    Listing Contact
    Glenn Esterson
    Real Estate License ID: 355850
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