Contact Information
Mobile Home Park Details
- Price: $1,200,000
- Purchase Method: Cash
- Cap Rate: 7.3%
- Listing ID: 6493056
- Posted On: Jul 5, 2024
- Updated On: Aug 25, 2024
Description
Request Information - Joe Moody - joe.moody@blackflagproperties.com
AIRLINE RUSH PARK - MOBILE HOME PARK
10 PADS - LAND AREA - (55,000 SF)
NOI - $89,000.
1 PARK OWNED and 9 TENANT OWNED. 2 YEAR LEASES.
Remodeled in 2023 including new electrical service, boundary and cross-fencing, paving and common area access driveways, gas, sewer and water stubs, common area lighting, picnic areas, cluster mailbox and enclosure, etc.
ALSO IN PACKAGE - PRICING BELOW AND SEPARATE FROM MHP.
*COMMERCIAL GROUND LEASE PAD - SOLIS TIRE CENTER
*36,000 SF HARD CORNER
*CAN PURCHASED STAND ALONE
*LEASE INCLUDES LANDLORD UNILATERAL RIGHT OF TERMINATION COMMENCING MARCH 2025 - 60 DAY NOTICE REQUIRED.
$1.2 million or $33.00 PSF
See Brochure for the details.
2% Annual Escalations.
Tenant pays NNN monthly
2025 NOI - $76,500.
Lease base term expiration - 2030
Location
Airline Rush Park is located at the SWC of Airline Drive and Witcher Lane in Houston, Texas. The 1 acre parcel is located in the Northline sub-market on Airline Drive just north of Tidwell Road.
Amenities
- Club House
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 10 |
| Total Occupancy: | 100.0 % |
| Year Built: | 2023 |
| Average MH Lot Rent: | $830 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $109,000 |
| Operating Expense: | $20,000 |
| Net Operating Income: | $89,000 |
| Expense Ratio: | 18.3 % |
| Debt Info: | Traditional - No Seller Financing |
Lot Information
| Singlewide Lots: | 10 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 1 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $1,400 |
