Listing Agency: Other Street Advisors

Listed By: Enon Winkler · License #FL BK3055134

Source: Crexi

Added: Apr 11 Changed: Aug 8 Last Checked: Aug 10 at 11:32AM

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Investment Insights

Based on property information with market context.

Somerset Estates is a mobile home and RV park community offering 300 sites. The park currently includes 56 tenant-owned homes and 31 park-owned homes, along with 10 condo units with an annual HOA fee of $1,500. There are also 203 vacant lots, and community occupancy is approximately 33%.

The property is located in Somerset Center, Michigan at 12851 E Chicago Rd. Rent figures provided include an average lot rent of $381/month for tenant-owned homes and an average home rent of $435/month for park-owned homes.

The listing notes an opportunity for a new investor to drive value through infill of the 203 vacant lots and by raising the below-market rents toward market rate.

Key Highlights

• Somerset Estates mobile home community in Somerset Center, MI with 300 total sites
• Includes 203 vacant lots and occupancy of about 33%
• 56 tenant‑owned homes with average lot rent of $381/month

Property Analytics

Property Profile

Current Use

Somerset Crane Service ... Construction Company Somerset Center Estate ... Campground & RV Park Somerset Custom Homes Construction Company

Suggested Use

Top Pick Building Supply Auto Repair Shop Dental Office Real Estate Agency Plumbing Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

33%

Occupancy

Location Intelligence

Trade Area within ½ mile

10

Businesses Nearby

Explore this area Business Placement

Demographics for 49282, MI

210

Population

50

Households

4.2

Avg Household Size

38

Median Age

79%

High-School Grad

2.6 sq mi

ZIP Area

81

Density / Sq Mi

$43,864

Median Household Income

$37,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Somerset Estates offers 300 sites, including 203 vacant lots and occupancy of about 33%.

Where is this mobile home & rv park located?

The property is located at 12851 E Chicago Rd Somerset Center, MI.

What are key features of this property?

This property features: Somerset Estates mobile home community in Somerset Center, MI with 300 total sites; Includes 203 vacant lots and occupancy of about 33%; 56 tenant‑owned homes with average lot rent of $381/month