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Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 10.8%
  • Listing ID: 282989
  • Posted On: Oct 1, 2012
  • Updated On: Feb 26, 2013

Description

Marcus and Millichap is pleased to present Grabill Estates Manufactured Home Community. Grabill Estates is a 75 space community situated on approximately 10.13 acres in Grabill, Indiana. Grabill Estates was constructed in 1970 and contains all single-wide homes. The current average lot rent is $220 per month.

Grabill is located just minutes north of Fort Wayne, Indiana's second largest city. Grabill is a nice, quiet Amish community, which was settled in 1852. Grabill is also home to Sauder Manufacturing, which is located across the street from Grabill Estates. Jack R. Harris Park, host of many local events for Grabill, is also near Grabill Estates. Grabill has many Amish retail shops and dining/restaurants.

Since 2000, there has been a steady increase in population and income with the current unemployment rate at 7 percent compared to the current national average of 8.3 percent.

At this time, Grabill Estates is part of a portfolio sale and must be purchased with Blackcreek Estates Manufactured Home Community,which is located in nearby Harlan, Indiana. Don't miss this opportunity to own two stable manufactured home communities just north of Fort Wayne, Indiana.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 75
Total Occupancy: 94.0 %
Year Built: 1970
Average MH Lot Rent: $238
Size: 10 acre(s)

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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