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    1723 Cranberry Lake Cir Saginaw, MI 48609

    Sponsored
    For Sale
    $5,750,000

    60-Acre, 203-Pad Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Thomas Crossings, a premier 60-acre mobile home community in Saginaw, Michigan (48609), is available for $5,750,000. Currently featuring 28 homes on 42 available pads (20 park-owned, 8 tenant-owned), this property offers significant expansion potential. Phase 1 is nearing stabilization, with 14 pads ready for immediate infill. Phases 2 and 3 offer an additional 161 pads, bringing the total to 203 upon completion. The community boasts municipal water and sewer, paved roads, sidewalks, and a 3,400 sq ft clubhouse. Well-maintained landscaping, including scenic ponds, enhances the community's aesthetic appeal. Current lot rent is $400 per month, projecting a property value exceeding $20 million upon full occupancy. This represents a unique value-add opportunity, with potential for increased income from park-owned homes and new home sales. The property has been meticulously developed over two decades, showcasing high-quality construction and thoughtful planning. This is the first time the property has been offered for sale since its initial acquisition, presenting a rare chance to acquire an institutional-quality asset with substantial upside potential in a market with strong demand for affordable housing. The existing infrastructure and strategic development plan position Thomas Crossings for long-term value and significant returns. The property is located at 1723 Cranberry Lake Cir, Saginaw, MI 48609.

    Property Features for 1723 Cranberry Lake Cir

    General Information

    Property type
    Multifamily properties
    Property Profile Location Intelligence

    Current Use by Public Records

    Thomas Crossings Mobile Home Park

    Suggested Use

    Realty agency Law Firm Building Supply Spa & Massage Hair Salon Clothing Store Nail Salon Gym & Fitness Kitchen & Bath Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Saginaw
    County
    Saginaw
    State
    Michigan
    Longitude
    -84.0700017
    Latitude
    43.3981766

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    FAQs

    What type of property is this?
    Multifamily property - 60-Acre, 203-Pad Potential
    Where is this multifamily property located?
    The property is located at 1723 Cranberry Lake Cir Saginaw, MI.
    What is the asking price?
    The asking price for this property is $5,750,000.
    Request Owner's contact information
    1723 Cranberry Lake Cir Saginaw, MI 48609
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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
    1723 Cranberry Lake Cir Saginaw, MI 48609
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