Property details

Florida Value-Add 55+ Mobile Home Park / Marina, Southeast Region

Property Description

Located in an Income Tax Free State!     

Florida 55+ Mobile Home Park / Marina

Located in Southern Florida

Value-Add of $270,600 in additional income via rent increases.

This is an Adult 55+ Community that has a history of being a serene park.

All units are tenant owned except for 6 park-owned units.

Serviced by city public utilities

On 5 acres

Exposure to Atlantic Ocean with deep water access and dockage

125 sites, 113 of which are currently occupied

Each separately metered for utilities.

Tenants pay their own electric, water and sewer.

The park pays for trash pick-up.

Includes 2 commercial buildings (one is a small restaurant, the other a check cashing store)

Located on a major US Highway and has exposure to a tremendous traffic count.

The ownership recently spent over $200K in capital improvements to repair and install a new 300 ft. sea wall which should survive another 50 years.

The marina will accommodate up to 20 boat slips.

This is a tropical mobile home park that caters to retirees.

Buyer responsible for 1.50% buy-side brokerage fee.






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Highlights

Status:
Available
Price:
$13,500,000
Cap Rate:
4.52%
 

Property Information

Property Type:
Mobile Home Parks
Industry Type:
Mobile Home Park
Units/Spaces:
125
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.