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Mobile Home Park Details

Cap Rate: 10.2%
Listing ID: 789274
Posted On: Mar 2, 2017
Updated On: Nov 16, 2019

Description

ALL PUBLIC UTILITIES, 10.2 CAP RATE, WILL NOT LAST. J’s Mobile Home Park is a 54 lot MHP which is located on one tax parcel which is split by Route 5 & 20 into two distinct sub-parks, identified as the “North Park” and the “South Park”. Immediately to the west of the South Park is the Fingerlakes Crossing retail center anchored by Home Depot, Kohl’s and Dick’s Sporting Goods. Across the street to the North, at a signalized intersection, is Fingerlakes Mall anchored by Bass Pro Shops, JC Penney and a Movie Cinema. Overall, the subject has a very convenient and accessible location. The Park is zoned Industrial and Commercial. Upside- Retail Development or possible expansion of the MHP? Complete Offering Package available upon request.

Location

Cayuga County is located in the Finger Lakes Region of central New York State. The subject property, J's Mobile Home Park is situated at the western edge of Cayuga County and borders the City of Auburn.

Major manufacturers in the area include Cayuga Milk Ingredients, Nucor Steel, Currier Plastics, Bo-Mer Plastics, Xylem, UPSCO and MacKenzie Childs. Hill-Rom (formerly Welch Allen) and Tessy Plastics are also major employers of Cayuga residents despite their Onondaga County locations. Additionally, Cayuga County is a state leader in the production of dairy products, corn and soybeans.

Cayuga County comprises the Auburn, NY Micropolitan Statistical Area, which is also included in the Syracuse-Auburn, NY Combined Statistical Area.

J’s Mobile Home Park is located within ~10 miles of an interchange to the NYS Thruway (exit 40). NYS Thruway, the main highway through the region, extends from the Pennsylvania/New York State border in the west to Albany in the east, and the New York City borderline to the south. The City of Syracuse is the point at which Interstate 81 and I-90 intersect. Interstate 81 runs north-south through Syracuse, and provides access to north to Canada and continues on through Pennsylvania to the south.

Additionally, many of the residents of Cayuga County are employed by companies which are located within the city of Syracuse. Syracuse, the fifth largest city in the State of NY, is the principal city serving the central New York State metropolitan area and its airport is the largest in the region. The city itself has a population of 147,306 (2000 Census) and the metropolitan area has a population of 732,711 (2000 Census). The City of Syracuse, located ~30 miles to the east, is easily accessible via Route 5 and the NYS Thruway (I-90) which are main traffic corridors. The City of Syracuse is the nearest major employment and population center which serves central New York State. Some of the largest area employers are the State University of New York-Upstate Medical Center, Syracuse University, Wegmans Food Markets, St. Joseph’s Hospital Health Center, Magna International, Crouse Hospital, Lockheed Martin Corporation, Penn Traffic Company, National Grid USA and Loretto.

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