Value equals NOI divided by cap rate
If a park produces $300,000 of normalized NOI, the value at a 10% cap rate is about $3,000,000. At an 8% cap rate, the same NOI implies about $3,750,000. The hard part is choosing the right range.
Why cap rates move
Cap rates usually compress when books are clean, occupancy is steady, utilities are documented, the market has durable demand, and there is expansion upside. They widen when diligence risk, deferred maintenance, licensing questions, or short seasons make income less certain.
Use a range, not a single answer
A serious buyer will still verify financials, title, licenses, zoning, septic, water, roads, electrical, and guest mix. A range is more honest than a fake precise number.