We have an additional 20 acres of land next to our park that we were hoping to parcel off and sell. Unfortunatly the only access to the land is through the park so that killed that idea. We then found original blue prints to the park and that land was going to be phase 2 of the park build out. The original owner put in sewer and electric but never built out the lots. So it would mainly take putting in a road pouring pads and bringing in water.
My question is how would we determine at what price point does it make sense to do this. Our lot rent is $300, these would be lake front lots so we could probably get 310-320 and the residents pay water.
We will be 100% occupied by middle of next year and the demand is great where we dont have any problem selling homes we bring in.