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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

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.
More about this property
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