Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.7%
  • Listing ID: 1167805
  • Posted On: Dec 17, 2019
  • Updated On: Mar 16, 2020

Description

Marcus & Millichap is proud to present the opportunity to acquire Isle of View, a 100 space manufactured housing community in Panama City, FL. The property is centrally located between Tallahassee and Pensacola and is one of the most popular beach cities in the Florida Panhandle. It is comprised of four parcels totaling 13 acres, with three of the parcels designated for developing additional lots. Vacancy is currently less than 10%, making this a rare opportunity to acquire a filled mobile home park with new models that will appeal to any savvy investor. Additionally, the property is 2 miles from a Walmart Supercenter, and across the street from an elementary, middle, and high school.

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

Park Information

Community Type: All Age
Number of MH Lots: 100
Total Occupancy: 95.0 %
Size: 13 acre(s)

Financial Information (Actual)

Gross Income: $683,532
Operating Expense: $222,200
Net Operating Income: $461,332
Expense Ratio: 32.5 %

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

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