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    460 Pine Valley Dr Roanoke, AL 36274

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    For Sale
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    79-Pad Mobile Home Park, High NOI

    Property Features for 460 Pine Valley Dr

    General Information

    Property type
    Multifamily properties
    Lot Size
    936,540 SF

    Building Details

    Year Built
    1976

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    Listing Contact
    Nate Mcdaniel

    Listing Agency: Marcus & Millichap Charlotte Uptown Listing Agent: Nate Mcdaniel

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

    Learn more

    Overview

    This exceptional 79-pad mobile home park presents a compelling investment opportunity in Roanoke, Alabama. Situated on 21.5 acres at 460 Pine Valley Dr, Roanoke, AL 36274, this established community boasts a diverse tenant base, generating a strong net operating income (NOI) of $187,677. The park's current configuration includes 7 rent-paying lots, 42 tenant-owned homes under rent-to-own agreements, 3 vacant park-owned homes, and 27 vacant pads, offering significant upside potential through infill development and rent increases. Built in 1976, the park benefits from a cost-effective operational structure, with electricity billed directly to tenants and municipal water and sewer services. Roanoke's affordable housing market, coupled with its proximity to larger cities like Birmingham and Atlanta, ensures consistent demand for affordable housing options. The local economy, driven by manufacturing and agriculture, provides a stable foundation for continued growth. This property offers a blend of immediate cash flow and long-term growth prospects, making it an attractive investment in a thriving market. The property's location in Randolph County, Alabama, provides easy access to regional economic hubs and recreational amenities like Lake Wedowee. The combination of strong existing cash flow, significant development potential, and favorable market conditions makes this mobile home park a truly exceptional investment opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke
    County
    Randolph
    State
    Alabama
    Longitude
    -85.3469087
    Latitude
    33.1449378

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    FAQs

    What type of property is this?
    Multifamily property - 79-Pad Mobile Home Park, High NOI
    Where is this multifamily property located?
    The property is located at 460 Pine Valley Dr Roanoke, AL.
    What is the asking price?
    The asking price for this property is $3,100,000.
    What are key features of this property?
    This property features: 79-pad mobile home park generating $187,677 NOI.; Significant upside potential via infill development of 27 vacant pads and rent increases on 42 rent-to-own homes.; Attractive location in Roanoke, AL, near Birmingham and Atlanta, offering strong tenant demand in an affordable housing market.
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    460 Pine Valley Dr Roanoke, AL 36274
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    Roanoke, AL 36274
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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
    460 Pine Valley Dr Roanoke, AL 36274
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