It’s one more way we can serve buyers and sellers involved in this flourishing asset class. Our product council allows advisors -even those focused on mobile home parks- to connect with buyers, sellers and real estate professionals around the State of Florida and nationally. In response to the strength of this market, I’ve been involved in the National Multifamily Product Council within the SVN organization. A 4- to 5-percent cap rate is fairly common, which means a $10 million property can produce a net income of $400,000 to $500,000 after expenses. Some of these parks can have up to 1,000 pads, making them extremely profitable to own.Ĭap rates for higher-end parks are often the same as class A apartment complexes. They seek higher-end parks, occupied by people ages 55 and older, preferably not in rural areas lacking municipal water and sewer. Many of the buyers are buy-and-hold investment groups looking to bolster their portfolios. That keeps the supply lower than the demand and gives sellers a marked advantage. Homes in Highland Manor or one of the many other great Hagerstown communities. In many cases, zoning is restricted to outlying areas, not residential. BEX Realty Homes for Sale & Rent Open in the BEX Realty mobile app. It’s a wild market, to be sure.Īnother reason mobile home parks are difficult investments to find is that, in a lot of places, there are strict moratoriums on approvals for new development. It’s also interesting that most of these deals are off-market - they don’t even make it to the listing phase. Buyers are sometimes stepping up and making these sizable investments because of how lucrative they’ve become. In former years, such amounts would have likely priced them out of range and drawn little interest. Find a mobile home park, mobile home community, manufactured home community, multifamily housing, land lease community or trailer park near Independence, MO. Some of these owners who do decide to put their parks on the market will often have large asking prices. has 50 Mobile Home Parks near Independence, MO. Even then, there’s a measure of luck involved. It takes persistence, a lot of cold-calling, letters, emails. For the CRE advisor interested in approaching such people, timing is everything: You’re one member of a big crowd knocking on the same door. Many park owners - even those with no desire to sell - are deluged daily with unsolicited offers from agents. Parks that once had 20 to 30 vacant pads years ago are now finding themselves at capacity.Īs a result, finding sellers can be tricky. The upshot of these and other factors is that occupancy rates are at high levels right now. Many of these people are business owners seeking a lower tax burden and fewer restrictions on their livelihoods. Florida has also become the beneficiary of a massive relocation influx from other states. There’s an emphasis right now on affordable housing as many Americans struggle to find acceptable places to live. The reasons for the popularity of this asset class are fairly intuitive. The 175-pad park in Pinellas County sold for $9.5 million. The one drawback is that they’re getting increasingly difficult to find - almost like seeking buried treasure.Ī transaction we managed in mid-July is indicative of this CRE trend. The Highland Manor Neighborhood Association provides safety teams who open and supervise the building during severe thunderstorm weather events. Mobile home parks make up a red-hot investment market in Florida commercial real estate (CRE) right now. The Reservable Shelter serves as a safe place for community residents to take shelter in severe weather. Taxes, fees not included for deals content.Market scarcity, need for affordable housing gives sellers a major advantage If you have any questions or suggestions regarding this matter, you are welcome to contact our customer support team.īusinessYab is not a booking agent, and does not charge any service fees to users of our site.īusinessYab is not responsible for content on external web sites. The brand names, logos, images and texts are the property of these third parties and their respective owners. BusinessYab cannot be held responsible or liable for the accuracy, correctness, usefulness or reliability of the data. The content displayed in the BusinessYab Directory consists of information from third parties, among others from publicly accessible sources, or from customers, who have a presentation page in our directory. © 2023 All Rights reserved.Īt BusinessYab our purpose is to help people find great local businesses like dentists, hair stylists, restaurants, bars, hotels, local businesses.
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