Mobile Home Park Details
- Cap Rate: 7.0%
- Listing ID: 496422
- Posted On: Dec 11, 2014
- Updated On: Feb 27, 2015
Description
Centrally located, 100% leased mobile home park in the strong-performing City of Manassas, VA. The 10.02-acre site consists of 110 homes (both single-wide and double-wide) and one rental house with direct frontage along Centreville Road. The property is conveniently situated within walking distance of an array of amenities including Giant, Home Depot and Food Lion.
In addition, the property is part of the Mathis Avenue Sector Plan, providing investors a future redevelopment option. The surrounding area has also estimated 15% population growth within one mile by 2019.
Conveniently located just 35 minutes from Downtown Washington, DC.
For property level questions, please reach out to Chris Doerr or Will Harvey:
Chris Doerr
Managing Director
202-266-1323
christopher.doerr@cassidyturley.com
Will Harvey
Associate
202-266-1333
william.harvey@cassidyturley.com
Location
Conveniently located just 35 minutes from Downtown Washington, DC.
Amenities
- Handicap Accessible
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 110 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $620 |
| Size: | 10 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $841,142 |
| Operating Expense: | $306,338 |
| Net Operating Income: | $534,754 |
| Expense Ratio: | 36.4 % |
| Debt Info: | Free and Clear |
Lot Information
| Singlewide Lots: | 110 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Average Rent for Park-owned Homes: | $620 |