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.

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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

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