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    37828 Oak Forrest Dr Dade City, FL 33523
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    Property profile & analytics

    37828 Oak Forrest Dr Dade City, FL 33523

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    • Mobile home & RV parks
    Off-Market
    Property ID
    US18-3564391
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mobile home & RV parks

    Property Details for 37828 Oak Forrest Dr

    Property type
    Mobile home & RV parks

    Description

    This Dade City, Florida mobile home park presents a compelling investment opportunity. Situated on a 5.075-acre lot in Pasco County (zip code 33523), this Class B property boasts 9 tenant-owned homes and 10 total pads, with 90% occupancy. Two vacant pads are ready for immediate rental income, supplemented by two small, furnished apartments and two RV parking spaces, all with utilities. Amenities include a screened swimming pool, laundry facilities, a grilling area with picnic tables, and ample storage (sheds, a large container, and a covered building). The park is self-sufficient, featuring its own well (and an auxiliary well) and septic system. The property is zoned AR and is not subject to a ground lease. The asking price is $900,000, offering an 8% capitalization rate. Additional features include a serene pond and a beautifully landscaped setting. The park's location offers convenient access to Dade City's amenities, while also providing proximity to outdoor recreational opportunities such as the Withlacoochee River. Long-term residents contribute to stable income potential. While historical financial records are limited, the current market conditions and potential for rental rate increases suggest significant future return potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dade City
    County
    Pasco
    State
    Florida
    Longitude
    -82.1896114
    Latitude
    28.4729129

    Comparable in this City

    • $3,100,000

      Mobile Home and RV Parks

      Two mobile home and RV parks totaling 47 units.
      19140 Us Highway 301, Dade City, FL 33523
      View Details
    • $3,100,000
      15,838 SF

      Mobile Home and RV Parks

      Two mobile home and RV parks totaling 47 units.
      19140 Us Highway 301, Dade City, FL 33523
      View Details
    • $495,000
      10.00 Acres

      10-Acre Dade City Land

      Gently rolling, wooded acreage near I-75.
      0 Amberlea Rd, Dade City, FL 33523
      View Details
    • $39,999
      0.34 Acres

      Land Backing Withlacoochee River

      Land near Withlacoochee River for weekend retreat or living.
      Ringwalt Dr, Dade City, FL 33523
      View Details

    Similar Nearby for Sale

    • $3,100,000

      Mobile Home and RV Parks

      Two mobile home and RV parks totaling 47 units.
      19140 Us Highway 301, Dade City, FL 33523
      View Details
    • $3,100,000
      15,838 SF

      Mobile Home and RV Parks

      Two mobile home and RV parks totaling 47 units.
      19140 Us Highway 301, Dade City, FL 33523
      View Details
    • $495,000
      10.00 Acres

      10-Acre Dade City Land

      Gently rolling, wooded acreage near I-75.
      0 Amberlea Rd, Dade City, FL 33523
      View Details
    • $39,999
      0.34 Acres

      Land Backing Withlacoochee River

      Land near Withlacoochee River for weekend retreat or living.
      Ringwalt Dr, Dade City, FL 33523
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,557 SF

      Dade City Industrial Property

      Industrial property with on-site water treatment and deep water wells.
      15134 Citrus Country Dr, Dade City, FL 33523
      View Details
    • Contact for pricing
      15,440 SF

      Dade City Warehouse with Water

      15,440 SF warehouse with water treatment facility for rent.
      37824 Vitality Way, Dade City, FL 33523
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    • Contact for pricing
      9,000 SF

      Stand Alone Industrial Building

      9,000 sq ft industrial space with high visibility.
      17340 Parrish Grove Rd, Dade City, FL 33523
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    • $3,200 /Mo

      Commercial Land with Highway Frontage

      Prime commercial land with versatile buildings and highway frontage.
      20031 Us Highway 301, Dade City, FL 33523
      View Details
    • $159,511
      22,122 SF

      Dade City Commercial Property Rental

      Commercial property available for rent in Dade City, Florida.
      15552 Us Highway 301, Dade City, FL 33523
      View Details
    • $51,165

      Dade City Commercial Building For Rent

      Freestanding commercial building in downtown Dade City with on-site parking.
      14232 7Th St, Dade City, FL 33523
      View Details
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    Dade City, FL 33523
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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
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