Edgewater Estates is a 56 site Manufactured Home Community on the shore of Lake Erie's Sandusky Bay. Located only 15 minutes from Downtown Sandusky, Ohio, Edgewater Estates is a desirable community for it's prideful resident base which serves as both a summer getaway as well as year round housing. The property is serviced by city water and a Waste Water Treatment Plant with a 21,000 gallon per day capacity that was reconstructed in 2006 operating well under it's maximum capacity. There are currently 51 physically occupied sites with 50 of them being economically occupied by 43 resident owned homes and 7 residents on rent to own contracts. The property is also generating revenue from one apartment unit and boat storage in the rear of the community.

Edgewater Estates is a great investment opportunity for a new operator. Edgewater Estates boasts a T-12 lot rent
NOI of $159,000 which is a cap rate of 7.59% on a $2,100,000 list price. Not included in the income calculation to arrive at the $159,000 T-12 NOI is the income from the 7 rent to own contracts that have a remaining balance of $107,500. There is a brand new vacant park model (pictured below) and 5 empty sites for a new operator to take advantage of. In addition, the offering includes 12.87 acres of green space to the west of the community that is a future expansion opportunity.