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Ogallala Mobile Home Park 1605 N Spruce St, Ogallala, NE 69153

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.3% (Pro Forma)
  • Listing ID: 514409
  • Posted On: Mar 25, 2015
  • Updated On: Jun 10, 2015

Description

57 Lot Mobile Home Park. 40 occupied spaces. 12 self storage units,
(33 lot rent only, 1 house rental, 6 RTO)

Home of the popular Lake Mac. Large agricultural community, employment from several major companies in town and surrounding towns. Off of I-80 - connecting Omaha to Denver . Several national chains including Walmart, Ace, Dollar Tree have opened recently. Major fast food chains established.
Shortage of affordable housing in the area. Upside opportunity in filling vacant lots and submetering water. Park is on city utilities.

Location

Western Nebraska. 3 hrs from Denver and Cheyenne. 8 miles south of Lake Mac.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 57
Total Occupancy: 70.0 %
Average MH Lot Rent: $200
Size: 11 acre(s)

Financial Information (Pro Forma)

Gross Income: $129,141
Operating Expense: $64,660
Net Operating Income: $64,481
Expense Ratio: 50.1 %

Lot Information

Singlewide Lots: 53
Doublewide Lots: 4

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $485

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