Mobile Home Park Details

Cap Rate: 7.6%
Listing ID: 1896396
Posted On: Sep 29, 2022
Updated On: Sep 29, 2022

Description

Stratton Commercial in association with Gil Stevens with KW Realty Elevate are pleased to present O Road Park Place a 36 Unit Mobile Home Park in the Lake of the Ozarks area.

O Road Park Place sits in the north side of the lake and is located at 100 Carefree Lane Laurie, MO , and has 36 Mobile Home Lots. Out of these 36, 15 are Tenant Owned, 12 are currently under Rent-to-own contracts, and 6 are vacant. There is also 1 single family home on the property.

The cherry on top is the 17 Storage Units that the current owner does not promote. 14 of these units are 10x10 and 3 are 10x20. With a change of ownership and a slight increase in the current under market rent rates, this property is a great investment opportunity in an even better location.

O Road Park Place can be purchased with Southway Terrace MHP just 20 minutes away giving an investor a total of 76 Units and 17 Storage Units right on Lake of the Ozarks!

Location

Southway Terrace is located minutes away from The Lake
of the Ozarks, one of the most desirable and fastest
growing communities not only in the state of Missouri, but
in the Midwest. The Lake of the Ozarks is one of the largest
man-made lakes in the United states, and it attracts people
from all over the country. Whether it's fishing, boating,
golfing or simply soaking up some sunshine, there is no
denying that The Lake of the Ozarks is one of the best
tourist destinations in the entire country.

The lake has a surface area of 55,000 acres, more than 1,150
miles of shoreline. Although it was initially built to provide
hydroelectric power for the St. Louis area, the lake quickly
became a significant tourist destination in the Midwest.
There are more than 70,000 homes existing along the lake,
many of which are vacation homes. Spectacular scenery
characteristic of the Ozarks has also helped to transform
the lake into a major resort area. More than 3 million people
visit the lake annually.? The lake rarely varies in surface
elevation by more than 5 feet, with normal pool elevation of
660.0 feet above mean sea level. Unlike many flood-control
lakes constructed, most of the 1,150 miles of shoreline on
the Lake of the Ozarks is privately owned, and the relatively
stable surface elevation has created ideal conditions for
private development within a few feet of the shoreline.

With substantial infrastructure and thousands of acres of
undeveloped land at attractive prices from which to choose,
the lake region makes an excellent site for industrial,
commercial and retail development. Another great aspect
of the Ozakrs is the fact that there is five nearby airports, as
well as plenty US major highways that service the area from
all directions. With an unemployment rate almost half the
national average, natural resources available at arm’s reach,
and tourist coming (and spending) all year long, it is easy to
see why The Lake of the Ozarks is a hot commodity, and
investing on this city would be well worth it.

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