• Opportunity to purchase two manufactured home communities priced on an attractive per-site basis relative to replacement cost, containing a total of 86 sites located within a mile of each other and allowing a new owner to immediately benefit from economies of scale.
• There is a value-add opportunity to increase occupancy as together the two properties are only 17% economically occupied. There is a tremendous demand for affordable housing in this area and the parks could benefit substantially from the implementation of a home program.
• Within a ten-mile radius of the communities, total population is 165,760, average household income is $74,865, and average home values are $172,179 (U.S. Census Bureau, Apr ‘19).
• According to the owner, Shady Side Trailer Court is one of the only parks in the region that has a variance allowing RV’s. Please see the online Document Library for details.
• The nearly $6 billion Shell ethylene cracker plant is under construction approximately five miles from the parks and is expected to be fully complete in the early 2020’s. The cracker plant will have a major economic impact on the immediate area, with an estimated peak of 6,000 construction jobs in 2019 and another 600 full-time jobs for employees working at the plant.
• Mount Airy plans to open a 103,000 square-foot casino and destination development in Big Beaver in 2020, less than seven miles from the parks. The project is expected to bring upwards of 700 jobs for regional residents.