6104 Busiek Rd Farmington, MO 63640
- Mobile home & RV parks
- 28.00 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 6104 Busiek Rd
- Year built
- 2001
- Lot size
- 28.00 lot acres
- Property type
- Mobile home & RV parks
Description
Walnut Grove Mobile Home Park presents a compelling investment opportunity in Farmington, Missouri. This 91-site, all-age community sits on 28 acres, offering significant expansion potential for an additional 23 to 25 sites. The property boasts a strong pro-forma NOI of $392,899 and an 8.8% pro-forma cap rate, making it an attractive addition to any portfolio. Currently, the park comprises 27 tenant-owned homes and 39 park-owned rental homes, with an additional 25 sites occupied by stick-built homes permanently affixed to concrete foundations, all constructed by the seller. The entire real estate and home portfolio must be purchased together. Infrastructure includes a well water system and an on-site sewer treatment plant, with existing water and sewer lines in place to support future expansion. The majority of roads are paved, providing ample off-street parking, although a newer section currently features gravel roads. Conveniently located approximately 75 miles south of downtown St. Louis, the park benefits from a substantial population base of 93,294 within a 20-mile radius. The property was built in 2001 and is offered at $4,470,000, with a price per pad of $49,121. The property's APN is 13-20-03-00-000-0021.00. This is a turnkey opportunity with immediate income and significant upside.
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
- Farmington
- County
- St. Francois
- State
- Missouri
- Longitude
- -90.3597
- Latitude
- 37.7588
