Mobile Home Park Details

Purchase Method: Cash, New Loan
Cap Rate: 12.0%
Listing ID: 633396
Posted On: Feb 11, 2016
Updated On: Jan 27, 2020

Description

12% Cap Rate, Fully Leased, Desirable School District, Buffalo Market, Ease of Ownership and Well Maintained. Priced to SELL!!! BT MHP is comprised of 32 Manufactured Home sites along with 2 small Commercial Buildings. Importantly, the subject property is located within the highly desirable Iroquois Central School District and close to an interchange for the 400 Expressway. Land improvements consist of a looped asphalt roadway, asphalt/gravel driveways; buried/overhead electric and natural gas.

Location

Erie County is located along the western border of NY State and on the eastern shores of Lake Erie. Big Tree Mobile Home Community, in the Town of Wales (2010 census population-3,005), is located ~3 miles east of the Village of East Aurora which is the nearest population center and shopping district. The Town of Wales is one of the "Southtowns” of Erie County by virtue of its position in the southeast part of the county. Located within Erie County is the City of Buffalo which is ~15-20 miles to the northwest. Buffalo, the second largest city in the State of NY, is the principal city of the Buffalo-Niagara Falls metropolitan area and serves as the county seat. The city itself has a population of 258,703 (as of 2014), and the metropolitan area 1,135,509 (2010 Census). The City of Buffalo is easily accessible via the NYS Thruway and the 400 expressway which are main traffic corridors. The subject property is within 4 miles of an interchange to the 400 expressway at the East Aurora Exit.

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