Catylist ID:
#30851052
Income Producing MH Park Atmore, Al. Near Wind Creek & I-65
Multi-Family
for Sale
Call for Offers
| Catylist Listing ID: | 30851052 |
| Property Subtypes: | Mobile Home Park |
| Number of Units: | 12 Units |
| Building Size (RSF): | 12,592 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 8.30 Acres |
| Sale Price: | $650,000 |
| Unit Price: | $54,166.67 Per Unit |
| Property Use Type: | Business |
| Building Name: | Gilman Properties, LLC |
| Usable Size (USF): | 12,592 SF |
| Sale Terms: | Cash to Seller, Other |
| Call for Offers: | Yes |
| Cap Rate: | 6.69% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 12/4/2023 |
Overview / Comments
|
Atmore, AL - PRICE IMPROVEMENT! Perfectly located within 1/2 mile of Wind Creek Hotel and Casino and Interstate 65. Investors and commercial brokers, seize this opportunity to own a value-add mobile home park sits on 8.30 acres of unzoned land just outside the city limits, offering endless possibilities for expansion! All of the mobile homes on the property are currently rented. With almost $60,000/yr net income and a 6.69% Cap Rate now, imagine the potential for added profitability by expanding the park with 7-15 additional mobile homes and/or RVs! This property offers an excellent opportunity with 12 Mobile homes, 4 Vacant lots (1 rented for an RV), (16) Septic tanks, and room for expansion. With (6) 2-bedroom single-wide mobile homes, (4) 3-bedroom single-wide mobile homes, and (2) 3-bedroom double-wide mobile homes, always occupied. Very desirable location. Plus, every unit comes with laundry facilities, ensuring comfort and convenience for your tenants.. The possibilities for growth and increased profitability are endless! Ima Road is an easement. Great Location – this Mobile Home Park is just minutes from I-65, Wind Creek Hotel/Entertainment Center/RV Park/Casino/Spa, and Downtown Atmore. As Atmore experiences rapid growth, the demand for rental properties increases. A new state prison was approved for construction, bringing new job opportunities. Plus, the federally recognized Poarch Creek Band of Indians are set to open their new $15 million state-of-the-art Meat Processing Facility in Spring 2024, bringing more jobs. This mobile home park is in close proximity to both. See OM for the 2023 Atmore Geofence Report & the Main Street Atmore Redevelopment Plan, along with other information about the area and growth. A community and investor effort has spurred on growth downtown, some of which has yet to be seen from the investors' purchases. All shops in the downtown area are either sold for rentals, owned and operated by the seller, or rented to a tenant. About 48 new businesses have joined this exciting area, with more on the way. A Multi-Million Dollar renovation project was just completed on the Historical Strand Theatre and old hardware store now known as a venue called "The Encore," creating another entertainment hub for residents and visitors. There has never been a better time to invest in this booming market! Take advantage of the opportunity to own this Mobile Home Park with tons of potential and add to your portfolio. Contact us today to learn more and schedule a viewing! |
Attachments & Media
Additional Details
| Nearest MSA: | Atmore |
| County: | Escambia |
| Submarket Type: | Redevelopment District |
| Taxing Authority: | Escambia, AL |
| Tax ID/APN: | 30 11 08 33 0 200 002.004; 30 11 08 33 0 200 002.000; 30 11 08 33 0 200 002.011 & 30 11 08 33 0 200 002.009 |
| Zoning: | UNZONED |
| Percent Occupied: | 100% |
| Property Located Between: | I-65/Wind Creek Center & Hwy 21 N. |
| Highway Access: | AL-21- 850 ft, I-65- 1 mile; AL-31- 5 miles; FL-97- 7 miles |
| Airports: | Atmore Municipal; Mobile Regional; Pensacola International |
| Site Description: | 12 Mobile homes, 4 Vacant lots (1 rented for an RV). Single Wide mobile homes: (6) 2 bedrooms, (4) 3 bedrooms. Double Wide mobile homes: (2) 3 bedrooms. (16) Septic tanks. Property is clear with some trees. |
| Area Description: | The largest city in Escambia County, this is a town dedicated to growth and redevelopment. A wholesale buy-in into downtown from the community and investors has spurred on growth, some of which has yet to be seen from the investors' purchases. All shops in the downtown area are either sold for rentals, owned and operated by the seller, or rented to a tenant. Atmore presently is in upwards of a $4.2 Million re-vitalization process with growth in the downtown area and surrounding areas. Included in that number are the restoration of the Strande Theatre and former Atmore Hardware Store; improvements to the Atmore Heritage Park with a new splash pad, new playground equipment, and a nod to the city's history from a decommissioned train car; and the New Trammell Square Park. The City and Chamber are also working on beautification and hometown pride initiatives to enhance the downtown business district, as well as commercial and industrial properties. In 2019, the Alabama Historical Commission designated a portion of the city of Atmore as a commercial historic district. Atmore was also designated part of the Main Street Alabama non-profit organization that focuses on bringing jobs, dollars, and people back to Alabama's historic communities. Home to a wide range of industries that have grown over the years, including agriculture, timber, textiles, metal fabrication, and communication companies. City leaders take a proactive approach to industrial recruitment by adding and selling buildings at the 150-acre Industrial Park, along with creating the Rivercane Development. The City of Atmore works in conjunction with the Atmore Area Chamber of Commerce, the Escambia County Industrial Development Authority, and the Coastal Gateway Regional Economic Development Alliance to attract new business and industry to the area while pursuing marketing strategies that promote the growth of our community and its existing industries. Atmore is perfectly positioned to be an attractive area for businesses while still retaining its warm, family charm. Current and future renovations in Atmore have made it an exciting place to be! |
| Total Number of Buildings: | 12 |
| Property Condition: | Good |
| Number of Stories: | 1 |
| Year Renovated: | 2002 |
| Roof Type: | Gable |
| Construction/Siding: | Metal Siding, Vinyl Siding |
| Exterior Description: | Some mobile homes have vinyl siding, others have metal. |
| Parking Type: | Surface |
| Parking Description: | 3-4 spaces per unit |
| Laundry: | In Each Unit |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Fuel: | Electric |
| Air Conditioning: | Window Unit, Other |
| Internet Access: | Cable, Satellite, Fiber Optic |
| Interior Description: | 55 Terry Lane (New Air), 76 Ward New (3 Ton A/C Unit) 92 Ward (New GE Range) Units Range from 1985 to 2002 in mobile home units. |
| Zoning Description: | Unzoned |
| Lot Frontage: | 420 |
| Lot Depth: | 643 |
| Water Service: | Municipal |
| Sewer Type: | Septic |
| Easements: | Ingress/Egress |
| Easements Description: | Ima Lane is an easement. |
| Land Ownership: | Fee Simple |
| Legal Description: | (4) Parcels: 30 11 08 33 0 200 002.004; 30 11 08 33 0 200 002.000; 30 11 08 33 0 200 002.011 & 30 11 08 33 0 200 002.009 |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 1,519 | 12,516 |
| Median Age: | 39.27 | 36.6 |
| Households: | 582 | 3,736 |
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