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Mobile Home Park Details

Purchase Method: Cash, New Loan
Listing ID: 700842
Posted On: Aug 29, 2016
Updated On: Oct 31, 2016

Description

- REO.
- Rare opportunity to acquire a 168-site MH/RV resort in Florida' s horse country and with proximity to some of the state' s most remarkable natural springs and state parks.
- Potential opportunity to add value by re-configuring lots to add more pull-through sites. Currently, the pull-through sites are full in peak season and the park is not able to meet demand.
- As of June 2016, there were 16 tenant-owned park model homes on the property paying an average of $300 per month.
- Park benefits from rally groups that return to the park every year as they travel through, some dating back to 2004.
- There are many long-term renters with approximately 56% of the rental income from annual and 25% from monthly tenants.
- Luxury amenities including free wi-fi, cable TV, heated pool, laundry room, shuffleboard, horseshoe pits, billiards, and a rec center.
- Offered at a low cost basis with tremendous upside potential in increasing occupancy and lowering expenses.
- The Ocala market offers tourists and retirees the charms of the Sunshine State without the expense of markets such as Miami, Orlando or Tampa.
- Property has 37 pull-through sites.

Location

- Ocala North RV Park is conveniently located just off of Interstate 75, which runs less than 20 miles south to Ocala and north towards Gainesville.
- According to Marion County' s Economic Impact of Tourism Study, there were nearly 1.8 million visitors in 2015 creating an economic impact of over $900 million. The average travel party size was 3.2 people and 92% of visitors said they were planning to return.
- The University of Florida (UF) is one of the largest in the US with nearly 50,000 students and an economic impact of over $8 billion. U.S. News & World Report ranked UF the 14th best public school in the United States.
- Ocala, FL is a short 20 minute drive and offers options for dining, cinemas and shopping.
- The community is located about 30 minutes from Silver Springs State Park, which is home to one of the largest artesian spring formations in the world. It consists of 1,350 acres and offers attractions such as canoeing, kayaking and glass bottom boat rides.
- The Wild Waters Water Park is also about 30 minutes away and features a 450,000 gallon wave pool as well as fun slides and water rides.

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