3145 Stewart Rd, Vestal, NY 13850

This exceptional 120-site mobile home park presents a compelling investment opportunity in Vestal, New York. Boasting a 7.80% current cap rate and a pro-forma cap rate of 8.82%, this Class B property offers significant potential for growth. The park currently enjoys an 84.87% occupancy rate, generating a net operating income (NOI) of $312,141, with a pro-forma NOI projected at $352,994. Situated on a spacious 20.97-acre lot, the park features 98 tenant-owned homes, one stick-built home, two park-owned homes, and 19 vacant lots, providing immediate income and future development possibilities. Conveniently located across from a Lowe's and within close proximity to downtown Binghamton (5 miles) and Binghamton University (3 miles), the park benefits from a strong tenant base and high demand. The property includes town water and sewer services and paved roads, ensuring efficient operations and maintenance. The asking price for this lucrative investment is $4,000,000. This is a rare opportunity to acquire a well-established mobile home park with substantial upside potential in a desirable location. The strong financials, prime location, and existing infrastructure make this a truly attractive investment.