Florida, Value-add, passive mobile home/RV park Just 5 minutes from Interstate 10,
Absentee owner, managed from out of state with a local helper.
Land size: 12.702 acres
Currently approved spaces: 39
total spaces after addition: 42
Park owned homes: 6
total occupied spaces: 28
occupancy rate: 72%
Year Built: 1998
Best Location:
Interstate freeway 10 is just 2.5 miles (5 minutes) away
Walmart is just 3 miles, 7 minutes drive,
McDonalds, Chick-fil-A, and Taco bell are just 2.5 miles (5 minutes) away
PeopleSouth bank is just 3 miles (6 minutes) away
Panama city is just 55 miles (50 minutes) away
Tallahassee is just 63 miles (1 hour) away
Pensacola is 138 miles (1.5-hour) away
The actual number of spaces is 39, but according to the county planners, you can add 3 more spaces by requesting a land use change to double the density and increase total spaces to 43.
The owner is selling because busy with school.
Easy options to dramatically increase the income
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Fill up all 42 spaces and increase the per-lot rent
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Add more spaces: The county planning department permits adding three more spaces.
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Increase rent to $400 x 42 and bring annual gross rent to $201,600.00
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Increase rent to $450 x 42 and bring annual gross rent to $226,800
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Operate as a RV park $700 x 42 x12 =$352,800 (potential gross rent for RV park)
The pro forma numbers on the website are based on increasing lot rent to $400 only, mobile park current rent is less than $400. The average lot rent for mobile home parks in the area is $500–$800, and the average monthly rent for RV parks is $750-$1,200.
Disclaimer: lot size is actual; sqft & parking spaces are approximate; incomes are pro forma; actual income is available after NDA is signed and proof of fund is received. The owner is a licensed broker in California, but is not active. Information is deemed reliable but not guaranteed. Buyers or agents should conduct their own due diligence.
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Current spaces: 39 (per the county can add 3 more spaces)
Total occupied spaces: 28
occupancy rate: 72%
increase rent to $400 x 42 pro forma annual gross rent $201,600.00
Increase rent to $450 x 42 pro forma annual gross rent $226,800.00
The park’s current rent is less than $400 per space. The average lot rent in the area is $500–$1,000.
Ray Chen 626.789.5768
Legal counsel: Casio Shyn