I need help finding a buyer for this one, it would be my first commercial deal. I have financials upon request
Property Overview:
- 15-pad mobile home park
- Currently ~12 occupied (recently 15 occupied)
- Mix of lot rent + park-owned home income
- Situated on ~8 acres (existing park)
- Additional ~17 acres available for future development or expansion
Financial Snapshot (Current):
- Gross Scheduled Rent: ~$14,090/month
- Annual Rent: ~$169,000
- NOI: ~$127,840
Stabilized Potential (15 occupied):
- Gross Income: ~$225K
- Estimated NOI: ~$150,000
Value-Add Opportunity:
- Operational cleanup (mom-and-pop management)
- Expansion potential with additional acreage
- Ability to increase efficiency and collections
Pricing / Structure Options:
- $2,000,000 – Lump sum (park + land)
- $1,400,000 – Cash (park only)
- $1,500,000 – Seller finance Park only (20–30% down, 5–6%, 30yr am, 5yr balloon)
- Optional: Acquire park now with exclusive option to purchase additional ~17 acres for $700,000 within 3–5 years