http://cbcwilmington.com/idx/commercial/12294/
found this randomly while searching and just curious if someone more seasoned would be interested. Is it good or bad just curious how you analyze it thanks
That is a bunch of septic tanks sitting idle. I wonder how long they have not been in use and if they are up to current code.
How long can a septic tank, on average, sit idle before it needs to be serviced? Just curious as I don’t have nay experience with septic tanks.
33 lots at lot rent (I’m assuming $180 per month) x 12 x .5 (because it’s so vacant) x 10 = $356,400. I don’t know the actual lot rent, but I’m betting the asking price sure doesn’t work. Williamston, NC also is not much of a turn-on, with a population of 5,400 and no metro. Personally, I would have no interest in this deal at all, as the only thing less attractive than the location is a massively vacant park on septic. Even the photos demonstrate a lack of infrastructure and what looks to be like a very rural area. I have no idea who on earth would finance such a park.
Unless there’s something I’m missing here, I’d throw that one back.
Septics that sit idle too long have may have to be replaced. It all depends on how old they are in the first place and how long they have been sitting.
A good friend of mine just set a MH on his land and will tear down the house they were living in. When the inspector came out to check the septic, he said they had to bring it up to code (additional fingers) even though it had been working properly for years with a house bigger than the new MH and with only 2 of them living there now instead of the 5 they had when they moved in.
You never know what kind of stink a septic may cause.