Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Land: This is land for developing a mobile home park
- Listing ID: 932617
- Posted On: May 29, 2018
- Updated On: Sep 25, 2018
Description
Branching Pines sits one block from the back entrance to Ft Benning Military Base which supports more than 120,000 military personnel. With the recent closure of Ft Knox and Ft Campbell as a result of the BRAC program, thousands of military personnel were relocated and Ft Mitchell benefited from this tremendously. This is a great opportunity for growth for the subject as RV camping has become a preferred affordable option for military personnel and sub-contractors.
Investment Highlights
-Priced well below appraised value for quick sale
-Price per space: $11,176
-Cap rate: 11.75%
-Acres: 25
-Unit Mix: 85 space w/ 22 MH sites 63 RV sites
-w/ city water and septic
Community Highlights
-Great income mix of yearly MHP rentals and nightly RV income
-Very hot area with tremendous growth due to the BRAC Program and relocaton and consolidation of over 120,000 military personnel to this area.
-All Age Park with good mix of military personnel and seasonal campers
-Value Ad Opportunity with plenty of room for upside
Park Information
Community Type: | All Age |
Number of MH Lots: | 85 |
Total Occupancy: | 60.0 % |
Average MH Lot Rent: | $200 |
Size: | 25 acre(s) |
RV Information
Number of RV Lots: | 62 |
Average RV Lot Rent: | $355 |
Park-Owned Homes
Number of Park-owned Homes: | 20 |
Average Rent for Park-owned Homes: | $500 |