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    94 Flood Rd Mayfield, KY 42066
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    94 Flood Rd, Mayfield, KY 42066

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    • Mobile home & RV parks
    • 18.00 lot acres
    For Sale
    $1,500,000
    View Listing →
    Mayfield Mobile Home Park Investment For Sale
    $1,500,000
    1,344 SF

    Mayfield Mobile Home Park Investment

    Profitable 48-Lot Mobile Home Park

    94 Flood Rd, Mayfield, KY 42066
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    Property ID
    US34-1109253
    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

    • Country Living Mobile Home park / Campground & RV Park

    Property Details for 94 Flood Rd

    Lot size
    18.00 lot acres
    Property type
    Mobile home & RV parks
    Property subtype
    Campgrounds

    Description

    This exceptional 18-acre mobile home park in Mayfield, KY, presents a lucrative investment opportunity. The property boasts 48 pads, with 21 park-owned mobile homes currently occupied. An owner-occupied double-wide, featuring three bedrooms and two bathrooms, is also included. Supporting infrastructure includes a 30x40 workshop, a storage barn, and a small office building. The park benefits from readily available public water, natural gas, and high-speed internet. The substantial lot size offers significant potential for future expansion. The asking price is $1,500,000. Located at 94 Flood Rd, Mayfield, KY 42066, this property is situated in Graves County and is conveniently outside the floodplain, despite its address. The property's varied building years indicate a mix of ages for the structures. This turnkey operation is ready for a new owner to step in and continue its success. The property is zoned for its current use, though no specific zoning designation is listed. This is a rare chance to acquire a well-established mobile home park with considerable growth 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
    Mayfield
    County
    Graves
    State
    Kentucky
    Longitude
    -88.560634
    Latitude
    36.685224

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      Residential Property with Detached Workshop

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    Similar Nearby for Sale

    • $79,900
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      Gilbertsville Land Near Kentucky Lake

      Acreage near Kentucky Lake with utilities in place.
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      Mayfield Multifamily Property for Sale

      Multifamily property in Mayfield, KY with included appliances.
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      Mayfield Hotel Portfolio Opportunity

      Two-asset, 115-room hotel portfolio in Mayfield, Kentucky for sale.
      1100 Links Ln, Mayfield, KY 42066
      View Details
    • New
      $550,000
      13.90 Acres

      Residential Property with Detached Workshop

      Newer three-bedroom home with a detached, electrified workshop and expansive acreage in Graves County.
      1430 Spence Chapel Rd, Mayfield, KY 42066
      View Details
    • $874,000
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      Remodeled Commercial/Live-Work Property

      Unique commercial/live-work property with prime location and development potential.
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      View Details
    • $1,175,000
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      Multi-Purpose Commercial Property in Mayfield

      7,800 SF commercial property with office and warehouse space.
      900 S Commonwealth Dr, Mayfield, KY 42066
      View Details
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    Mayfield, KY 42066
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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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