Bradford Trace Mobile Home Park - for Sale in Hernando, Mississippi
485 E Commerce Street
Hernando, MS 38632
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Seller Information
Steve WoodyardWoodyard Realty Corp.
Mobile Home Park for Sale |
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| Number of MH Lots: | 75 |
| Size: | 8 acre(s) |
| Cap Rate: | 9.3% |
| Purchase Method: | New Loan |
| Status: | Active |
| Property ID: | 101805 |
| Posted on: | Jul 22, 2011 |
| Updated on: | Jul 22, 2011 |
| Price: | $1,963,000 |
Property Description
Mobile home park has 75 pads with 65 homes on site. 48 Homes included is one leasing office/home are included in the sale (10 are financed as a lease purchase and 18 are owned by occupant). Capital improvement for the mobile home park over past few years includes elec. systems completely renovated & installed underground lines; installed natural gas services (1 bdrms do not have gas) & cable service; new asphalt paving; newer concrete pads for each lot; new landscaping on each lot & common areas; new mailbox canopy; built decks for each occupied lot.
Economic Occupancy (Historical 2010-2011) Average: 93%
Location Description
Located in Hernando, MS which minutes from Interstate 55 and 12 miles south of Memphis, TN. Hernando is the county seat of one of the top 40 fastest-growing counties in the nation. Community has experienced a 50% rate of growth in past 10 yrs.
Park Information
| Number of MH Lots: | 75 |
| Total Occupancy: | 93.0% |
| Average MH Lot Rent: | $215 |
| Size: | 8.0 acre(s) |
Financial Information (Actual)
| Gross Income | $328,084 |
| Operating Expense | $144,929 |
| Net Operating Income | $183,155 |
| Expense Ratio | 44.2% |
| Debt Info |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 47 |
| Average Rent for Park-owned Homes: | $570 |