Cash-Flowing Mobile Home Park
For Sale
$340,000
240 MIDWAY Drive, Salisbury, NC 28147
Fully occupied mobile home park with strong income and upside.
Property SizeContact for details
Days on Market515
Property Features for 240 MIDWAY Drive
General Information
Standard status
Active
Building Details
Year Built
1976
Listing Agency:
PREMIER REAL ESTATE TEAM INC.
Listed By:
MICHAEL WILLIAMS
Source:
Corcoran
Added: May 28, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PREMIER REAL ESTATE TEAM INC.
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Investment Insights
Based on property information with market context.
This is an investment opportunity to acquire a 100% occupied, cash-flowing 6-unit mobile home park located in the Salisbury market. The property is priced at $340,000, with a 12-month Net Operating Income (NOI) of $35,059, offering a 10.3% cap rate. All six mobile homes are park-owned, providing control over rents and maintenance. Each unit has its own septic system, and there is a shared well that has been upgraded. Capital improvements have been completed, and rents have been raised to market rates. The park benefits from strong tenant retention and consistent occupancy due to its location in a high-demand rental area. Seller financing is available for qualified buyers.
Key Highlights
- 10.3% Cap Rate with $35,059 NOI: Demonstrates strong current income.
- 100% Occupied: Indicates immediate cash flow.
- All Six Mobile Homes are Park‑Owned: Provides full control.
Property Analytics
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Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
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Demographics for 28147, NC
26,618
Population
10,095
Households
2.6
Avg Household Size
40
Median Age
19%
College-Educated
86%
High-School Grad
77.6 sq mi
ZIP Area
343
Density / Sq Mi
$59,770
Median Household Income
$36,118
Median Earnings
$1,036
Median Rent
$241,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Fully occupied mobile home park with strong income and upside.
Where is this mobile home & rv park located?
The property is located at 240 MIDWAY Drive Salisbury, NC.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 10.3% Cap Rate with $35,059 NOI: Demonstrates strong current income.; 100% Occupied: Indicates immediate cash flow.; All Six Mobile Homes are Park‑Owned: Provides full control.
