Contact Information
Margaret Blanton
License: 350187
Mobile Home Park Details
- Price: $4,995,000
- Purchase Method: New Loan
- Cap Rate: 7.4% (Actual)
- Listing ID: 6859758
- Posted On: Apr 2, 2025
- Updated On: Apr 3, 2025
Description
Bull Realty is pleased to present Chelsea Self-Storage and Mobile Home Park located in a rapidly growing suburb of Birmingham. The property is comprised of 206 non-climate controlled, self-storage units and 32 mobile home lots. 17 of the mobile homes are tenant-owned and 14 are park-owned. Many of the tenants have expressed interest in purchasing the park-owned homes.
• Located in growing suburb of Birmingham, AL
• Large, ±19.18-acre property
• Self-Storage is fenced with keypad entry and security cameras
• Located off of Hwy 280 Corridor which sees 33,060 cars per day
• 650 new homes projected to be built in Chelsea by 2026
• Strong 3-mile average, household income at $107K
• ±27,800 net rentable square feet of storage
• 206 storage units and ±63 parking spaces
• 32 MHP lots: 14 park-owned homes, 17 tenant-owned homes, 1 vacant
lots/pads
• Limited supply of mobile home parks in Shelby County with strong demand
• ±11.41 SF of storage per person within 5-mile radius
• Recent Cap/Ex improvements: New LED lighting, new keypad entry
• 29,529 population within a 5-mile radius
Location
Chelsea Self-Storage and Mobile Home Park is located off the Hwy 280 corridor which sees 33,060 vehicles per day. Chelsea, AL is located 10 miles southeast of Birmingham, and is a family-oriented community with great schools. The rivers, lakes, and mountains offer plenty of opportunities for recreation.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 32 |
| Total Occupancy: | 97.0 % |
| Year Built: | 2000 |
| Average MH Lot Rent: | $425 |
| Size: | 19 acre(s) |
Financial Information (Actual)
| Gross Income: | $495,491 |
| Operating Expense: | $127,310 |
| Net Operating Income: | $368,181 |
| Expense Ratio: | 25.7 % |
Lot Information
| Singlewide Lots: | 18 |
| Doublewide Lots: | 7 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 14 |
| Average Rent for Park-owned Homes: | $975 |
