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Property profile & analytics
OFF-MARKET
Commercial real estate

45 Plasters Park Cir Martinsville, VA 24112-7215

Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US87-1405069
Property summary
AI-generated overview

This exceptional investment opportunity presents a 13-lot mobile home park situated on an expansive 8.72-acre lot in Martinsville, Virginia (zip code 24112, address 45 Plasters Pk Cir). Currently, nine lots are leased, generating immediate cash flow. The property is zoned A-1 Agriculture. A key feature is the recently added 13th lot, offering increased potential rental income. This lot boasts a private location at the rear of the park and includes a standalone septic system. All mobile homes are tenant-owned, minimizing landlord responsibilities. The park benefits from Public Service Authority (PSA) water connections, with individual meters ensuring tenants cover their water usage. A septic maintenance fee is collected from each tenant to offset associated costs. Recent improvements include the installation of three additional streetlights, new mailboxes, and updated signage, enhancing the park's overall appeal and functionality. Financial information and park regulations are available upon request. This turnkey operation offers a low-maintenance approach to real estate investment with significant upside potential. The property is priced at $325,000.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Zoning code A1
APN 174790003
UPID US87-1405069
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Exquisite Housing Elite I LLC · 1 yrs held
Exquisite Housing Elite I LLC
since 2024
Last sale
$288,000
3 recorded transactions
2024
$288,000
2023
$145,000
2021
$135,000
Zoning & alternative use
A1 · Martinsville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source code of ordinances
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