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Mobile Home Park Details

  • Cap Rate: 7.0%
  • Listing ID: 496422
  • Posted On: Dec 11, 2014
  • Updated On: Feb 27, 2015

Description

Centrally located, 100% leased mobile home park in the strong-performing City of Manassas, VA. The 10.02-acre site consists of 110 homes (both single-wide and double-wide) and one rental house with direct frontage along Centreville Road. The property is conveniently situated within walking distance of an array of amenities including Giant, Home Depot and Food Lion.

In addition, the property is part of the Mathis Avenue Sector Plan, providing investors a future redevelopment option. The surrounding area has also estimated 15% population growth within one mile by 2019.

Conveniently located just 35 minutes from Downtown Washington, DC.

For property level questions, please reach out to Chris Doerr or Will Harvey:

Chris Doerr
Managing Director
202-266-1323
christopher.doerr@cassidyturley.com

Will Harvey
Associate
202-266-1333
william.harvey@cassidyturley.com

Location

Conveniently located just 35 minutes from Downtown Washington, DC.

Amenities

  • Handicap Accessible
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 110
Total Occupancy: 100.0 %
Average MH Lot Rent: $620
Size: 10 acre(s)

Financial Information (Pro Forma)

Gross Income: $841,142
Operating Expense: $306,338
Net Operating Income: $534,754
Expense Ratio: 36.4 %
Debt Info: Free and Clear

Lot Information

Singlewide Lots: 110

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Average Rent for Park-owned Homes: $620