765 Saratoga Rd Gansevoort, NY 12831

Property Details for 765 Saratoga Rd

Year built

1989

Lot size

2.56 lot acres

Property size

700 SF

Zone code

R-M

Property type

Mobile home & RV parks

APN

415600 127.-3-61

APU

415600127361

Description

This exceptional investment opportunity presents a well-maintained 17-unit mobile home park situated on 2.56 acres in desirable Gansevoort, New York. Boasting 100% occupancy, the property generates a strong net operating income (NOI) of $109,439, translating to an attractive 11.52% capitalization rate. Pro forma projections indicate an even higher NOI of $112,037 and a cap rate of 11.79%. The park comprises a mix of 10 park-owned homes, a smaller house, and 6 tenant-owned homes, offering diverse income streams. Conveniently located just 4.7 miles from Skidmore College, 5 miles from Saratoga Springs City Center, 5.4 miles from the Saratoga Race Course, 5.7 miles from the Saratoga Regional YMCA, and 1.8 miles from McGregor Links Country Club, the property benefits from strong demand and a prime location within Saratoga County. The park is professionally managed, ensuring efficient operations and consistent revenue generation. This is a rare opportunity to acquire a high-performing mobile home park with significant upside potential in a thriving market. The asking price is $950,000. The property's address is 765 Saratoga Rd, Gansevoort, NY 12831.