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Listed by Gabrielle (Gabbie) McIntosh • eXp Realty
$ 635,000
Est. payment | /mo
9,600 SqFt
$ 635,000
Est. payment | /mo
9,600 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,600 sqft
Price per Sqft $66
MLS Listing ID 3231819
Year Built 1996
Lot Size 2.900 Acres
Acres 2.9
Property Sub-Type Mixed Use
Property Description
Fully occupied ten-pad mobile home community on US Highway 41 in Kimball, three miles from I-24 and about 35 minutes from Chattanooga. All ten pads leased and current at $7,850 per month, a $94,200 annual gross potential. Stabilized year-one NOI of $62,304 under third-party management, a 9.8% cap rate at $635,000, and about $69,773 NOI for an owner who self-manages, an 11.0% cap. Seven park-owned homes and three tenant-owned homes, with five park-owned homes on twelve-month leases and the balance month-to-month for rent-reset flexibility. Roughly $175,000 in capital improvements completed since 2023, including forty-year metal roofs, PEX plumbing retrofits, metal underpinning on all park-owned homes, and mold remediation on four homes, with $25,000 to $30,000 of 2026 work in progress. Tenants pay electric, gas, and refuse direct. Municipal master-meter water with on-site septic. Seller financing available for qualified buyers. Full due diligence package on file for a fast close.
Location
State TN
County Marion County
Zoning C-2
Interior
Fireplace N
Exterior
Roof Type Metal
Others
Special Listing Condition Standard
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