2333 Howard Arnette Rd Lenoir, NC 28645
- Mobile home & RV parks
- 8.00 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 2333 Howard Arnette Rd
- Year built
- 1964
- Lot size
- 8.00 lot acres
- Property type
- Mobile home & RV parks
Description
This exceptional investment opportunity presents a well-established 26-pad mobile home park situated on 8 acres in Lenoir, North Carolina. Built in 1964, Green Mountain MHC boasts a strong 7.54% capitalization rate and a current NOI of $52,753. All 26 pads generate consistent lot rent income, requiring minimal maintenance and management. The property includes one stick-built home and an on-site apartment, adding to its revenue stream. The park is conveniently served by city water and individual septic tanks. A significant advantage lies in the potential for substantial expansion; the property has approval for up to 65 lots, capitalizing on the desirable location near the Appalachian Mountains and the thriving economies of nearby Blowing Rock and Hickory. The elevated terrain allows for the creation of large, attractive lots with stunning Northwest mountain views. This presents a unique opportunity to increase rental rates and significantly expand the park's capacity, further enhancing its profitability. This property offers a blend of immediate income and significant long-term growth potential in a desirable location. The asking price for this income-producing asset is $700,000.
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
- Lenoir
- County
- Caldwell
- State
- North Carolina
- Longitude
- -81.5335
- Latitude
- 35.9533
