Mobile Home Park Details
- Cap Rate: 7.0%
- Listing ID: 3471616
- Posted On: Aug 1, 2023
- Updated On: Nov 5, 2023
Description
15-space manufactured housing community in Frostproof, FL (Lakeland MSA)
Located in Polk County, the fastest growing county in FL, and the 7th fastest growing county in the USA
Nine park-owned homes with seven lot-rent spaces
Significantly under market lot rents based on JLT report
Well water and septic system in-place
Majority month-to-month leases allowing for rapid value-add
Beautiful lakefront location
Less than five miles to Sunrise at the Lake MH/RV Park
Offered independently or together with Sunrise at the Lake mobile home park
Location
Polk County population is expected to grow by 20% over the next ten years
Polk County is home Publix Supermarket Headquarters with more than 10,000 employees
Other major private employers include BayCare Health Systems, CSX, GEICO and Amazon which has three major fulfillment centers and an Air Cargo Hub in the county
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 15 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1979 |
| Average MH Lot Rent: | $350 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $113,082 |
| Operating Expense: | $51,391 |
| Net Operating Income: | $61,691 |
| Expense Ratio: | 45.4 % |
Utility Information
| Water: | Well |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 9 |
| Average Rent for Park-owned Homes: | $881 |
