Cocoa Point MHP
450 Stowe Lane, Cocoa, Florida 32926
Sold: $925,000
Property Details
Property Type
Residential
Building Type
Freestanding
Land Size
7.08 acres
Units
76
Sewer
City
Water
City
Zoning
MHP
Lease Type
1050000
Property Description
This is an upgrade 76 pad MHP. New water, sewer and electric service through out the park. 24 park owned trailers, 21 pad only rents. There are currently 29 vacant pads ready. This property is priced at a 16% CAP rate based on current actual numbers. Very good upside potential. Price per pad is $15,776. NOI is currently $179,747 Total operating expenses are $85,709.