11700 Thompson Ave Sugar Creek, MO 64054

Property Details for 11700 Thompson Ave

Property type

Mobile home & RV parks

Description

This exceptional 25-unit mobile home park in Sugar Creek, Missouri, presents a compelling investment opportunity within the Kansas City MSA. Boasting a 93% occupancy rate (as of January 1, 2024), the park generates a strong NOI of $79,593, with a pro-forma NOI projected at $99,210, yielding a 6.63% cap rate and a pro-forma cap rate of 8.27%. The property sits on 27 pads, priced at $44,444.44 per pad, and includes a 20x50 concrete block building featuring a one-bedroom apartment (previously rented for $375/month), a laundry area with coin-operated machines, and a small office. The park benefits from city water and sewer, billed back to tenants, and updated infrastructure (water and underground electrical in 1986). Each pad has a 50-amp hookup, with 15 offering additional breakers for potential short-term RV rentals. Current lot rent is $355/month, significantly below the area average of $450/month, presenting immediate upside potential through rent increases. Conveniently located near MO Hwy 24 and local amenities, this park offers a stable, high-demand investment in a growing metropolitan area with a population exceeding 2 million. The property's current owner handles trash removal and bills back water and sewer to tenants, also providing lawn service. This turnkey operation is ready for a new owner to capitalize on its significant potential for growth and profitability.

Location Insight

City

Sugar Creek

County

Jackson

State

Missouri

Longitude

-94.437

Latitude

39.1035