Contact Information

Jon Fisher
License: 471.020503 (IL) 18000549 (IN) 117228 (SC)

MR LANDMAN LLC

CONTACT BROKER

Price: $225,000
Purchase Method: Cash, New Loan
Cap Rate: 2.9%
Listing ID: 6774788
Posted On: Nov 21, 2024
Updated On: Nov 21, 2024

Description

Playmaker RV & Trailer Park is a 22-pad mobile home community located on 2.23 acres in Beulah, ND. Despite being in a rural location this small community still offers shopping & dining options. The park was developed in 1974 and has served the community by offering an affordable housing option since that time. The property is zoned for residential (mobile homes). The park is located in a flood zone. The park last flooded in 2008 but no homes were damaged. Since that last flood the Knife River has been dredged and levees added to protect the community. The park is presently managed by a local resident who also serves as the maintenance man. The seller believes that he would have interest in continuing in this roll going forward.

The pad sizes are 50 x 107. There are currently three trailers that need to be removed from the premises. Of the 22-pads in the park, four of the pads are TOH's averaging $400/month. One is a POH at $625/month. There are currently thirteen vacant pads in the park. Fourteen of the pads in the park are for trailers and each have their own meter. Eight pads are for RV's that share two meters (that the park currently pays for). The trailers are a mixture from 1970's through 2011's . The last increase in pad rental was in September of 2023. There are currently two tenants behind in their rent. The park utilizes month-to-month leases for its residents.

Playmaker RV & Trailer Park is on city water & city sewer! The underground pipe is a combination of galvanized & copper service lines. The electrical pedestals are 100 amp. Residents are direct billed for electricity. The park is currently paying the water & sewer bill and this park is a great candidate for water meters to bill back usage. Garbage is provided by the city and is included with the water/sewer bill. The city maintains the roads that are blacktop and in good condition. The park mows the entire park. The city removes snow from the main road, the park removes snow from the back alley.

Since the current ownership has operated the park, they have made a number of improvements to the property:

2011-2013

•Trees removed and trimmed
•Lawns upgraded
•Electrical upgrades
•Three new curb stops added

2023-2024

•More trees removed & trimmed
•All lots were cleaned
•Three abandoned homes removed

When asked what improvements they would implement if they were to continue to operate the park going forward:

•Repair waterline to lot#319
•Remove trailer on lot #317 (vacant POH)
•Remove trailers on lots #513 & 515 (abandoned TOH's)

Jonathan Fisher is a licensed broker in the State of North Dakota under License #10982.

Location

Beulah is a city in Mercer County, North Dakota. The population was 3,058 at the 2020 census. Beulah is home to the Dakota Gasification Company. It is near the largest lignite mine in the United States, owned by North American Coal Corporation.

The median home cost in Beulah is $199,100. Home appreciation the last 10 years has been 60.8%. Home Appreciation in Beulah is
up 10.9%

The median age of Beulah real estate is 37 years old.

Renters make up 20.6% of the Beulah population.

Median monthly rent for a 1-bedroom rental is $770/month.
Median monthly rent for a 2-bedroom rental is $970/month.
Median monthly rent for a 3-bedroom rental is $1,180/month.

Beulah has an unemployment rate of 6.2%. The US average is 6.0%.

Beulah has seen the job market decrease by -2.4% over the last year. Future job growth over the next ten years is predicted to be 25.7%, which is lower than the US average of 33.5%.

The Median household income of a Beulah resident is $78,688 a year. The US average is $69,021 a year.

Beulah violent crime is 13.0. (The US average is 22.7)
Beulah property crime is 13.9. (The US average is 35.4)

Mercer County is a county in the U.S. state of North Dakota. As of the 2020 census, the population was 8,350. Its county seat is Stanton.

Talon Metals is planning a major battery minerals processing facility in Mercer County, North Dakota, with a focus on nickel processing. This facility will refine nickel and other critical minerals sourced from the Tamarack mine in Minnesota. It's part of a broader push to boost domestic production for the electric vehicle and clean energy sectors. The $433 million project includes a $114 million grant from the U.S. Department of Energy to support Talon’s facility, aligning with North Dakota's "all-of-the-above" energy strategy, which supports energy innovation and environmental stewardship. This facility is expected to create around 150 new jobs in Mercer County and support North Dakota's role in strengthening U.S. supply chains for clean energy technologies, reducing reliance on foreign sources.

The largest employers in Mercer County, ND, include major energy and mining entities due to the county's coal and power industry presence. Key employers are Basin Electric Power Cooperative and its subsidiary Dakota Gasification Company, along with Great River Energy, which operates a large coal power plant in the region.
Local mining and utility companies together contribute a significant share of employment, supporting many workers in roles linked to energy production and infrastructure.

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