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Pike Road Plantation M.H. & RV Park - for Sale in Pike Rd, Alabama
6287 Troy Hwy
Pike Rd, AL 36064
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Broker Information
Tim FletcherCommercial Properties Inc.
Mobile Home Park for Sale |
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| Number of MH Lots: | 162 |
| Size: | 33.9 acre(s) |
| Cap Rate: | 8.4% |
| Purchase Method: | Cash, Assumable Loan |
| Status: | Active |
| Property ID: | 114022 |
| Posted on: | Jan 27, 2012 |
| Updated on: | Apr 02, 2012 |
| Price: | $1,750,000 |
Property Description
+/- 33.9 Acres; zoned R-99 for Mobile Homes and RVs; 24.9 ac. for current Park w/ pad sites, and 8.9 ac. of expansion area for an additional 25 double wide sites. Expansion Area has infrastructure in place. Huge Value-Added potential at current occupancy. Entire property is loaded with infrastructure. Frontage & C-Store are available, but are excluded at this price.
Location Description
Property is ideally situated with great access and visibility, on some of the only high and dry frontage between The Taylor Rd. retail-corridor, and Montgomery Outer-Loop on US Hwy-231.
19,970 - Traffic count (ALDOT 2010)
Park Information
| Number of MH Lots: | 162 |
| Total Occupancy: | 38.0% |
| Year Built: | 1967 |
| Average MH Lot Rent: | $266 |
| Size: | 33.9 acre(s) |
Financial Information (Actual)
| Gross Income | $209,640 |
| Operating Expense | $62,282 |
| Net Operating Income | $147,358 |
| Expense Ratio | 29.7% |
| Debt Info | $565K SBA Assumable |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 6 |