800 Treatment Plant Rd Rochelle, IL 61068
- Mobile home & RV parks
- 205,603 SF
- 4.72 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 800 Treatment Plant Rd
- Year built
- 1970
- Lot size
- 4.72 lot acres
- Property size
- 205,603 SF
- Property type
- Mobile home & RV parks
- Property subtype
- Land
Description
This 4.72-acre mobile home park in Rochelle, IL, presents a compelling value-add opportunity. Currently boasting 14 occupied pads at $380/month each, generating a $46,368 NOI and a 15.72% cap rate, the property offers significant upside potential. A pro-forma NOI of $62,145 and a 21.07% pro-forma cap rate reflect the potential for increased rental income. The park, built in 1970, sits on city water and sewer, a key advantage in this location. While currently operating at 14 pads, it was previously licensed for 30, suggesting expansion possibilities after necessary upgrades. The property requires improvements to meet current city ordinances, including water main upgrades and road improvements. Detailed contractor bids for these upgrades are available. The sale price reflects the cost of these necessary improvements, making this a financially sound investment. The park features 60 parking spaces and all pads have individual meters for electricity, gas, and water. The current owner maintains roads and removes snow, while tenants are responsible for lawn maintenance. The property is zoned 0060 and has a total square footage of 205,603. This is a fee simple ownership opportunity with strong potential for increased profitability. The property's proximity to employment centers further enhances its appeal. This is an excellent investment for both seasoned and new mobile home park investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rochelle
- County
- Ogle
- State
- Illinois
- Longitude
- -89.0695
- Latitude
- 41.9127
