Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.6%
- Listing ID: 480790
- Posted On: Oct 30, 2014
- Updated On: Apr 1, 2015
Description
Licensed 90 lot park located on 11.2 +/- acres. Park is located close to interstate and main road for industry and businesses. Front 1-5 acres of high visibility portion of the park have strong development potential for a variety of commercial businesses. Park currently has 19 paying homes that are stable and secure tenants. Park also has a cell tower lease that can be included in the sale of the property. Current income of property is producing an 8.6% cap rate and property has enormous potential for mobile home park growth and/or commercial development/division of the frontage.
Property sale has potential to be a combined package sale with seasonal mobile home park at discounted pricing.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 90 |
Total Occupancy: | 21.0 % |
Average MH Lot Rent: | $300 |
Size: | 11 acre(s) |
Financial Information
Gross Income: | $95,160 |
Operating Expense: | $26,000 |
Net Operating Income: | $69,160 |
Expense Ratio: | 27.3 % |
Lot Information
Singlewide Lots: | 90 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 6 |
Average Rent for Park-owned Homes: | $500 |