Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    5520 Condor Rd Gilmer, TX 75645

    For Sale
    $775,000

    High-Yield Texas Mobile Home Park Investment

    Property size:
    1,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 13-pad mobile home park in Gilmer, Texas, presents a compelling investment opportunity. Situated on a spacious 4.89-acre lot at 5520 Condor, this property boasts a strong 11% capitalization rate, generating a substantial net operating income (NOI) of $85,000 annually. The park features 12 mobile homes, all owned by the seller, and a 2-bedroom, 1-bathroom frame house, ensuring complete control and maximizing rental income. Built in 2020 and recently renovated (within the last 1-5 years), the property is in excellent condition and benefits from 100% occupancy. The total net rentable square footage is 10,600 square feet, spread across the 13 pads. The asking price is $775,000. All utilities (water, sewer, and trash) are provided by the seller, simplifying management and enhancing profitability. This stabilized investment offers a rare chance to acquire a high-performing mobile home park in a desirable Texas location with significant potential for future growth. The property's strong cash flow and high occupancy rate make it an ideal addition to any real estate portfolio. This turnkey operation requires minimal management oversight, making it an attractive option for both seasoned investors and those new to the mobile home park market. The property is offered for sale by owner.

    Property Features for 5520 Condor Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,000 SF

    Building Details

    Year Built/Renovated
    2020/1

    HighLights

    • Exceptional 13‑pad mobile home park in Gilmer, TX, on a 4.89‑acre lot.
    • Strong 11% capitalization rate with $85,000 annual NOI.
    • Includes 12 tenant‑occupied mobile homes and a 2/1 frame house, all owned by the seller.
    • Recently renovated, excellent condition, 100% occupancy.
    • 10,600 square feet of net rentable space; asking price $775,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Hotel & Motel HVAC Service Electrical Service Electronics Store Pawn Shop Arcade & Gaming Center Toy Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilmer
    County
    Upshur
    State
    Texas
    Longitude
    -94.8485936
    Latitude
    32.640666

    Nearby Similar for Sale

    • $998,000
      138.00 Acres

      East Texas Working Cattle Ranch

      Productive 138-acre ranch near Gilmer, Pittsburg, Winnsboro, and Quitman.
      2088 Fite Rnch, Gilmer, TX 75644
      View Details
    • $3,300,000
      4.22 Acres

      Versatile Commercial Property on Highway

      Adaptable 4.22-acre commercial property on US Highway 271.
      1088 Us Highway 271, Gilmer, TX 75644
      View Details
    • $599,000
      77.99 Acres

      Upshur County Ranch Ready for Livestock

      77.988-acre ranch in Gilmer, Texas, ready for livestock production.
      7981 Arrowwood Rd, Gilmer, TX 75644
      View Details
    • $779,000
      3,817 SF

      Multi-Generational Homes on Landscaped Acres

      Two homes on 14 acres with pool, shop, and solar.
      1879 Fig Rd, Gilmer, TX 75644
      View Details
    • $680,000
      2,592 SF

      Secluded Ranch Retreat with Log Home

      Private 31-acre ranch with a luxurious log home.
      4834 Fm 2088, Gilmer, TX 75644
      View Details
    • $1,100,000
      125.00 Acres

      Upshur County Ranch with Pond

      126-acre East Texas ranch featuring a hidden pond and improvements.
      8124 Locust Rd, Gilmer, TX 75645
      View Details

    FAQs

    What type of property is this?
    Multifamily property - High-Yield Texas Mobile Home Park Investment
    Where is this multifamily property located?
    The property is located at 5520 Condor Rd Gilmer, TX.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Exceptional 13-pad mobile home park in Gilmer, TX, on a 4.89-acre lot.; Strong 11% capitalization rate with $85,000 annual NOI.; Includes 12 tenant-occupied mobile homes and a 2/1 frame house, all owned by the seller.
    Request Owner's contact information
    5520 Condor Rd Gilmer, TX 75645
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5520 Condor Rd
    Gilmer, TX 75645
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5520 Condor Rd Gilmer, TX 75645
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.