Call 901-282-6312

Say that you are are calling about a mobile home park on

Address is 73 Jane Drive Munford, TN 38058

Cathy Anderson

Crye-Leike Commercial

or, Send a Message:


Pine Grove Mobile Home Park

Mobile Home Park for Sale in Munford, Tennessee

73 Jane Drive
Munford, TN 38058

View on Map

This Mobile Home Park is Off Market

View more Mobile Home Parks for Sale in Munford, TN.

Mobile Home Park for Sale

Number of MH Lots: 64
Size: 14 acre(s)
Cap Rate: 10.0%
Purchase Method: Cash
Status: Off Market
Property ID: 823336
Posted on: Jun 16, 2017
Updated on: Feb 02, 2018

Property Description


64 pad park with apartment and min-storage on site!

Nice park located outside of Memphis, TN, in Tipton County, for sale. Park has been family-owned since the 1990's and fully managed by owners. This is a nice, quiet, well-run park with upside potential. There are 13 lot renters at $235/month and the remaining homes are park-owned. Rents range from $350-$675 and all pads are separately metered for water and electric. Each tenant pays their own utilities.

City water and private lagoon with very little monitoring/testing required.

7 unit apartment building on-site with 1 and 2 bedroom units.

10 unit mini-storage facility on site.

Annual gross rental income $348,840 with $282,158 NOI.

Offered at $2,850,000 10 cap

Full Marketing Package attached.

Park Information

Number of MH Lots:64
Total Occupancy:95.0%
Year Built:1970
Average MH Lot Rent: $375
Size:14.0 acre(s)

Financial Information (Actual)

Gross Income$348
Operating Expense$66
Net Operating Income$282
Expense Ratio 19.0%
Debt Info

Lot Information

Doublewide Lots:64

RV Information

Number of RV Lots:1
Average RV Lot Rent: $350

Utility Information

Water Paid By: Tenant - Individual Service
Sewer:Treatment Plant

Park-Owned Homes

Number of Park-owned Homes:51
Average Rent for Park-owned Homes: $375

Amenities and Other

Storage: Yes