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14.20 AC Mobile Home Park

102 Rural Lane : Stanley, NC 28164

Gaston County, North Carolina

14.20 Acres
Land Auction
October 28, 2021 12:00 PM
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Land Description

Stanley Mobile Home Park

Investment Highlights

34-Site manufactured home community positioned ±20 miles from Charlotte, NC (3 unusable lots)

Stable, income producing park with historically high occupancy and low operating expenses | Tenants pay utilities

Below market lot rents in comparison to other parks in the Charlotte Msa

Zoned R-20, Residential District

±33,688 individuals with an average household income of ±$69,983 in 2021 (5-mile radius)

Offering Details

CBRE's Investment Group and RealINSIGHT Marketplace are proud to present the opportunity to purchase Stanley Manufactured Home Park, a ±34-Pad community located in Stanley, North Carolina approximately 20 miles northwest of Charlotte.

Stanley MHC is an all-age community situated on ±14.2 acres at 102 Rural Lane, near N. Main Street. It is comprised of ±31 existing mobile home sites, with the ability to increase to ±34 pads (3 unusable lots). Currently ±97% occupied with an in-place NOI of ±$100K, the community has a very low historic delinquency. The Park owns one vacant home on the property. The Park is currently zoned R-20 and operates on well water and septic. There is a significant opportunity for a new owner to add value by raising rental rates to market averages and restoring three lots that are currently unusable.

The town of Stanley is located just outside of Charlotte in Gaston County, North Carolina. The Park is centrally located near Stanley's main retail corridor and is ±2.5 miles from Food Lion, Wendy's, Bojangles, O'Reilly Auto Parts and numerous other national retailers. As of 2021, the Property's demographics have ±33,688 individuals residing within a five-mile radius, with an average household income of ±$69,983.

Auctioneer:

Lamar P. Fisher

Fisher Auction Company Inc.

License: 7100

Land Maps & Attachments

More Land Details

Has Residence / Home
Residential Zoning
AUCTIONFLIP ID
291568
Posted on AUCTIONFLIP
35 Days Ago
Last Updated
33 Days Ago
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