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    232 Fran Rd Hanover, IN 47243

    For Sale
    $395,000

    Established Mobile Home Park, High ROI Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    314
    This exceptional investment opportunity presents a 17-lot mobile home park situated in Hanover, Indiana, at 232 Fran Road. The park currently boasts 10 occupied mobile home sites, offering immediate cash flow. Four of these mobile homes are owned by the park, providing additional revenue streams and control over property management. Six mobile homes are tenant-owned, ensuring a stable resident base. The park's diverse income streams extend beyond mobile home rentals. One lot generates income as a parking area, another is leased for a tenant's shed, and a third is rented for RV parking. This demonstrates the park's adaptability and potential for further revenue generation. The property's established nature and existing occupancy rates present a compelling investment proposition for those seeking a stable, income-producing asset in a desirable location. The asking price is $395,000. This represents a significant opportunity to acquire a well-maintained, cash-flowing mobile home park with potential for future expansion and increased profitability. The property is offered as-is. Detailed financial records are available upon request. This is a turnkey operation ideal for an investor seeking immediate returns and long-term growth. The property is conveniently located in Hanover, IN, offering easy access to local amenities and transportation routes.

    Property Features for 232 Fran Rd

    General Information

    Property type
    Other commercial real estate
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Jefferson_IN
    State
    Indiana
    Longitude
    -85.46841
    Latitude
    38.71811

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    FAQs

    What type of property is this?
    Commercial real estate - Established Mobile Home Park, High ROI Potential
    Where is this commercial real estate located?
    The property is located at 232 Fran Rd Hanover, IN.
    What is the asking price?
    The asking price for this property is $395,000.
    (812) 265-3122
    Request Owner's contact information
    232 Fran Rd Hanover, IN 47243
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    Hanover, IN 47243
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    232 Fran Rd Hanover, IN 47243
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