Contact Information

Michael Nissley
Colliers Manufactured Housing & RV Group

Mobile Home Park Details

  • Price: $5,800,000
  • Cap Rate: 4.2%
  • Property ID: 1591781
  • Posted On: Jan 26, 2022
  • Updated On: Nov 1, 2022

Property Description

Cherrydon Mobile Home Park is a well-maintained 55-site age-restricted manufactured housing community in Southeast Florida on the Atlantic coast just minutes from the Kennedy Space Center, gorgeous beaches, golf courses and spectacular views of the NASA shuttle launches.​ The fully-occupied park sits on more than 5 acres with public water and sewer.​

The asking price for the property is $5,800,000 ($105,455/site)

This represents a 4.2% cap rate at estimated market rents.​

​100% occupied and rents are $100+ below market leading to significant growth potential
​Located directly off U.S. 1 and within 3 miles of I-95, the park sits just off the Indian River with views of the Kennedy Space Station Launch Pads.
​55+ senior manufactured housing community with strong demand, all tenant-owned homes and long-term tenants
​There is a possibility to improve other income by billing back for trash, adding pet fees and other ancillary income.

https://www.crexi.com/properties/748072/florida-cherrydon-mobile-home-community

Join email list and provide investment criteria: https://lnkd.in/g9xC5k-a

Location

https://www.crexi.com/properties/748072/florida-cherrydon-mobile-home-community

Join email list and provide investment criteria: https://lnkd.in/g9xC5k-a

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Park Information

Community Type: 55 And Over
Number of MH Lots: 55
Total Occupancy: 100.0 %
Year Built: 1958
Size: 6 acre(s)

Utility Information

Water: City
Sewer: City

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