Cleveland-Elyria, OH Metro Area is a vibrant and bustling area with a population of 2,084,462 people. Medina County an estimated census population standing at 172,332. We may sell for the next purchaser to finish the infill or decide to fill the park a little more depending on offers.
The park is approved for 33 lots and has a building with an apartment currently rented. Average lot rent is $375 per month. The park has about 1/3 of the sites filled. The park has electric and public gas, it’s on well water. The park may be annexed to to neighboring city to go on public water if desired. The property has several wells with a contracted well company. The park does need lighting to be addressed with solar or a combination of solar and wired. Private home sales in the area are very strong. Homes sell north of 250k on the low end and many selling in the 400k plus range.
The park is a turn around park and we have done a lot of infrastructure to it. The old garage and laundry area was removed with new sewer and water lines installed, some electric upgraded, all new fencing around property, new signage, a new home is on order for a lot. We have several more lots ready to go that just need homes and cleaning up , with utilities upgraded. Five lots by the front of the park and additional through the park are available to bring homes in and immediately uplift the property further. The park has extra empty sites with utilities in place that would require approval to expand, but road and utilities are in place. A good location for double wides and large Holmes.
We would be willing to selling prior to finishing the light project and subsequently doing infilling. A great project for a buyer who is willing to do the infill. A great opportunity for someone who values the massive metro area and willing to finish the project. We aren’t looking to waste time with a buyer who doesn’t recognize this opportunity, but will entertain offers for a buyer who is ready and willing to finish the project.
We thought we had a deal on the above property, but the deal fell apart prior to the execution of the contracts. We are ready to sell and are getting ready to list with a broker should a deal not be obtained within a week.