Wild Fork Rd Frisco City, AL 36445
- Mobile home & RV parks
- 9.63 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 0 Wild Fork Rd
- Year built
- 1980
- Lot size
- 9.63 lot acres
- Property type
- Mobile home & RV parks
Description
This 30-pad mobile home park in Frisco City, Alabama, offers a compelling investment opportunity. Built in 1980 on 9.63 acres, the property boasts a 6.91% cap rate and a strong NOI of $42,164. The park includes 7 lot rentals, 8 rent-to-own homes, 4 vacant park-owned homes, and 11 vacant pads, presenting significant upside potential through expansion and rent increases. Water and sewer are provided by the city, keeping operating costs low. Located in a growing community with a stable local economy, the park benefits from the increasing demand for affordable housing in the region. Its proximity to larger cities like Mobile and Montgomery enhances its appeal. The diverse tenant mix, including lot rentals and rent-to-own agreements, contributes to a stable cash flow. The current lot rents are below market, allowing for future rent growth. This property presents a solid investment with both current income and long-term appreciation potential. The low operating costs and efficient management structure further enhance its profitability. The combination of affordable living, proximity to regional markets, and a strong local economy positions this park for long-term success.
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
- Frisco City
- County
- Monroe
- State
- Alabama
- Longitude
- -87.3659
- Latitude
- 31.4117
