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Address is 11319 Hwy Ff (32nd St) Joplin, MO 64804

Bill Michael


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BYKOTA

trailer park for Sale in Joplin, Missouri

11319 Hwy Ff (32nd St)
Joplin, MO 64804

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Sale Price: $850,000
 

Contact Information

Bill Michael

Mobile Home Park for Sale

Cap Rate: 15.0%
Purchase Method: New Loan
Status: Active
Property ID: 16607
Posted on: Jun 21, 2010
Updated on: Sep 11, 2012
Price: $850,000

Property Description

10 acres. 84 pads. 40 park-owned homes.

Our largest industrial park is located just one mile east of this 10 acres on the same highway.

The park is located 1/4 mile west of the junction of major 71 highway north and south and I-44 east and west.

This 10 acres is located just 2 hours from Branson, the Music Capital of the Ozarks.

This 10 acres is ideal for a truck stop, convenience store, motel, fast food restaurants, RV park, or any highway-related business.

Here are some comparable prices of surrounding land:

40 acres across the highway from this 10 acres is selling for $4,000,000.

160' x 200' lot just east of this 10 acres is selling for $175,000.

16.2 acres located on the northeast corner of the I-44/ Highway 71 junction is selling for $2,000,000.

5 acres just west of this 10 acres is selling for $1,000,000.

14 acres directly across the hiway from this 10 acres is selling for $3,000,000.

This 10 acres is the ONLY land in the area with a current income. Rather than buy bare land, pay taxes and wait for the prices to go up, you can buy this 10 acres and have an income that INCREASES monthly until you develop it to it's highest and best use. In 2009, the net income after all expenses was $165,243.

The current mobile home park has separate gas and electric meters and is on city water and sewer.

The 10 acres has 331.97 feet frontage on the highway and is 1321.59 feet deep. It forms a perfect rectangle.

ALL PUBLIC UTILITIES: SEWER, WATER, GAS AND ELECTRIC.

Interstate 44 is the corridor between St Louis and Oklahoma City.
Highway 71 is the corridor between Kansas City and New Orleans.

Our area is called the Crossroads of America. Joplin is the center of a small metropolitan area of about 200,000. Our Gross Market exceeds One Billion Dollars per year.

Many trucking companies have their headquarters here since we are located centrally in the nation. Joplin is also a manufacturing center and main shopping area.

2009 PROFIT AND LOSS STATEMENT:

INCOME FROM BYKOTA PARK WAS $379,451.
UTILITIES WERE -157,962.
ADVERTISING WAS - 1,546.
IMPROVEMENTS WERE - 51,100.
TAXES WERE - 3,600.
NET PROFIT WAS $165,243.

ON MAY 22, 2011, WE HAD A TORNADO COME THRU JOPLIN AND WIPE OUT ABOUT HALF OUR TRAILERS FOR RENT. OUR INCOME WAS REDUCED BY 40%.

THE CAP RATE IS 15%.

Financial Information (Actual)

Gross Income$204,000
Operating Expense$84,000
Net Operating Income$120,000
Expense Ratio 41.2%
Debt InfoNONE




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