The Belfield Mobile Court is located in Belfield, North Dakota, home to the new Davis Refinery being built by the Meridian Energy Group, Inc. This will be the first refinery built in the U.S. from the ground up in the last 40 years and will be the cleanest refinery on the planet by design. This will bring an army of 500 workers to this town of 800 people for the next several years while they build the refinery and related community infrastructure improvement projects. The town is scheduled for the addition of restaurants, retail shops, a theater, new water and sewage treatment plants, new police and fire station and industrial developments. The demand for housing will be tremendous as the contractors for this $850 million dollar project search for living quarters for their key personnel.
The 18 space Belfield Mobile Court is located two miles from the Davis Refinery site within the City of Belfield. It is served with city water and sewer, while electricity is provided by Montana Dakota Utilities (MDU). All onsite water and sanitary sewer systems are NEW CONSTRUCTION. New water mains and copper service lines incorporating thermostatically heated water risers were installed to each lot to insure freezeless operation in the harshest winters. Each lot will be sub-metered for water usage. New sanitary sewer manholes and service lines were installed to each lot as well. Each lot is served by a 200 amp electric service and are also individually metered. Site lighting was installed by MDU and vinyl privacy fencing was added in July 2017.
This is a rare opportunity to own a park with new infrastructure in the booming Bakken Oil Field surrounded by guaranteed growth. The close proximity to the refinery and local businesses makes this location the preferred choice as opposed to commuting 20 miles each way to the next closest town in search of housing. This property could be operated by leasing the lots or installing the mobile homes for a turnkey solution for corporate leasing. The park is currently licensed by the State and is ready to install the new mobile homes.
Sales Price: $495,000
Projected NOI from Lot Rental: $103,168
Projected CAP RATE 20.84%
