Current Use by Public Records
- Mobile home & RV parks
Property Details for 991 Us-11
- Lot size
- 11.10 lot acres
- Property type
- Mobile home & RV parks
Description
This exceptional investment opportunity presents the Gouverneur MHP, a 20-unit mobile home park situated on an expansive 11.1-acre lot in Gouverneur, New York, within St. Lawrence County (zip code 13642, located at 991 US-11). Currently boasting a 73% occupancy rate, the park comprises 12 park-owned homes (POH) and 6 tenant-owned homes (TOH), along with two vacant lots featuring vacant park-owned homes. The property's strong financial performance is highlighted by a current Net Operating Income (NOI) of $63,483 and a projected Pro-Forma NOI of $70,625, translating to an attractive 12.09% capitalization rate. The asking price for this well-positioned asset is $525,000. Adding to its potential, an additional 5 acres at the rear of the property have been cleared and are zoned for mobile home park use, presenting significant expansion opportunities for future growth and increased revenue. This Class B property offers a compelling combination of immediate income generation and substantial long-term upside. The property's location in Gouverneur, NY provides access to a stable tenant base and a strong local economy. This is a rare opportunity to acquire a well-established mobile home park with significant potential for appreciation.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Gouverneur
- County
- St. Lawrence
- State
- New York
- Longitude
- -75.4971
- Latitude
- 44.3147
