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Mobile Home Park Details

  • Price: $359,000
  • Purchase Method: Seller Financing
  • Cap Rate: 27.9% (Pro Forma)
  • Listing ID: 6863382
  • Posted On: Apr 6, 2025
  • Updated On: Apr 6, 2025

Description

The Belfield Mobile Court is located in Belfield, North Dakota, home to the new Davis Refinery being built by the Meridian Energy Group, Inc.
This will be the first refinery built in the U.S. from the ground up in the last 50 years and will be the cleanest refinery on the planet by design. This will bring an army of 500 workers to this town of 800 people for the next several years while they build the refinery and related community infrastructure improvement projects. The demand for housing will be tremendous as the contractors for this $850 million dollar project search for living quarters for their key personnel.
The long term commitment from Meridian Energy and others insures continued robust growth in the area for many years. Belfield Mobile Court is located two miles from the Davis Refinery site within the City of Belfield. It is served with city water and sewer, while electricity is provided by Montana Dakota Utilities (MDU). All onsite water and sanitary sewer systems were constructed in July 2012 and have not been put into service yet… the system is still new and unused. New water mains and copper service lines incorporating thermostatically heated water risers were installed to each lot to insure freeze-less operation in the harshest winters. Each lot will be sub-metered for water usage. New sanitary sewer manholes and service lines were installed to each lot as well. Each lot is served by a 200 amp electric service and is individually metered. Site lighting was installed by Montana Dakota Utilities and vinyl privacy fencing was added in July 2017.
This is a rare opportunity to own a park with new infrastructure in the Bakken Oil Field surrounded by guaranteed growth. The close proximity to the refinery makes this location the preferred choice for workers as opposed to commuting 20 miles each way to the next closest town in search of housing. When completed the facility will employ 200 full time employees. This property could be operated by leasing the lots to the contractors or installing the mobile homes for a turnkey solution for corporate leasing. The park is currently licensed by the State and is ready to install the 18 new mobile homes. Lot rents will be $700/month. This park is being offered at the cost of construction.
Please contact me for more information.

Location

Belfield, North Dakota

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Park Information

Number of MH Lots: 18
Total Occupancy: 0.0 %
Year Built: 2012
Average MH Lot Rent: $700

Financial Information (Pro Forma)

Gross Income: $162,000
Operating Expense: $53,368
Net Operating Income: $100,532
Expense Ratio: 32.9 %
Debt Info: Owner will carry

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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