Blueberry Ridge And Ocean Air Investments - for Sale in Wells, Maine

Quarry Rd & Depot Rd
Wells, ME 04090
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Sale Price: $3,400,000

Seller Information

Peter K Quinn
Commercial Brokerage

Mobile Home Park for Sale

Cap Rate: 8.0%
Purchase Method: New Loan
Status: Active
Property ID: 108350
Posted on: Nov 21, 2011
Updated on: Mar 06, 2012
Price: $3,400,000

Property Description

Blueberry Ridge and Oceanair Investments consist of 99 sites in the desirable seaside community of Wells Maine. Blueberry Ridge is located in the desirable seaside community of Wells Maine on Quarry Rd..Construction began in 1988 and the park was expanded in 2009. Currently there are 10 sites available with water and septic, all set for homes. Additionally there is expansion capability of another 35 sites. The utilities consist of electricity provided by Central Maine Power with each site having a one hundred amp service. Water is provided by two wells. one with 10,000 gallon tank and the other with a 1,500 gallon storage tank. There is enough water to accommodate the expansion of additional sites. Each has a 1,000 gallon septic tank and shares a leach field with one other home.
Ocean Air Investments Inc. consists of two parks on Depot Rd.in Wells Maine. Whistle Stop consists of 16 sites and is situated on 3.4 acres. Ocean Air Mobile Home Park II consists of 22 sites and is situated on 6.79 acres. Central Maine Power provides the electricity and each home has a one hundred amp service. Both parks have public water and sewer which is paid by the tenants. The parks are conveniently located off off Route 109, close to I95, shopping and approximately three miles from the ocean.

Attachments

Blue Ocean.pdf

Financial Information (Actual)

Gross Income$345
Operating Expense$82
Net Operating Income$263
Expense Ratio 23.8%
Debt Info