182 Franklin Rd Franklin, ME 04640
- Mobile home & RV parks
- 72.00 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 182 Franklin Rd
- Lot size
- 72.00 lot acres
- Property type
- Mobile home & RV parks
Description
This well-maintained 42-unit mobile home park in Hancock, Maine, presents a compelling investment opportunity. Situated on 72 acres at 04640 Route 182 Franklin Road, the property boasts a current NOI of $321,718 and a cap rate of 8.47%. Pro forma projections indicate a NOI of $396,960 and a 10.45% cap rate. The park features 23 park-owned homes, a private road, and updated water and sewer utilities. Zoned for commercial use, the property offers significant expansion potential, with room for up to six additional pads. Its prime location provides easy access to various amenities, including bodies of water, golf courses, schools, recreation, shopping, and entertainment. The park's proximity to Ellsworth and Bar Harbor (35 minutes away) further enhances its appeal. The asking price is $3,800,000, translating to $90,476.19 per pad. This turnkey operation is ideal for investors seeking a stable, high-performing asset with growth potential in a desirable location.
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
- Franklin
- County
- Hancock
- State
- Maine
- Longitude
- -68.309456047804
- Latitude
- 44.545687299763
