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Address is 485 E Commerce Street Hernando, MS 38632

Steve Woodyard

Woodyard Realty Corp.

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Bradford Trace Mobile Home Park

Multi Family Housing for Sale in Hernando, Mississippi

485 E Commerce Street
Hernando, MS 38632

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This Mobile Home Park is Off Market

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Mobile Home Park for Sale

Number of MH Lots: 75
Size: 8 acre(s)
Cap Rate: 9.3%
Purchase Method: New Loan
Status: Off Market
Property ID: 101805
Posted on: Jul 22, 2011
Updated on: Jun 01, 2013

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.

Attachments

Flyer__07.11.pdf

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


Zip codes in Hernando, MS


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