Mobile Home Park Details
- Listing ID: 6752496
- Posted On: Oct 21, 2024
- Updated On: Nov 21, 2024
Description
RI Marketplace Online Auction November 18-20, 2024
Register to bid on Marketplace:
Friedman Real Estate, in partnership with RI Marketplace, is pleased to offer the exclusive marketing and sale of Radio City Reserve, a 25-site mobile home community located in Fayetteville, TN, within the Nashville MSA. This property presents significant value-add potential, with opportunities to fill vacant sites and park-owned homes, and to increase the currently lower-than-market average lot rent. The community is connected to public water and sewer systems, with meters installed to monitor residents' usage. At ±72% occupancy, the blended T-12 NOI stands at approximately $50,000, while competing parks in the area boast an average occupancy rate of 95%. This is a unique opportunity for a new owner to capitalize on the upside potential.
Location
Fayetteville, located within the Nashville MSA, offers a charming blend of Southern hospitality and close-knit community spirit. The area provides convenient access to Nashville’s vibrant cultural scene, while also offering the tranquility and natural beauty of rural Tennessee. Residents can enjoy local parks, recreational activities, and nearby amenities. With its appealing environment and prime location, Fayetteville presents a compelling investment opportunity in the mobile home park sector.
John Roebuck
c/o Fisher Auction Company Inc.
License: 1702
TN Broker No. 00022430
Park Information
| Number of MH Lots: | 25 |
| Total Occupancy: | 72.0 % |
Financial Information
| Net Operating Income: | $50,000 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
