40
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$549,900
Est. payment /mo
5,250 SqFt
Active
TBD 10.6 AC US 2 Highway Crystal Falls, MI 49920
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Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 5,250 sqft
Price per Sqft $104
MLS Listing ID 50194846
Annual Tax Amount $2,009
Tax Year 2024
Lot Size 10.600 Acres
Acres 10.6
Lot Dimensions 350x1320
Property Sub-Type Business
Property Description
Are you looking to invest in something with existing stabilized cashflow that has the infrastructure in place to be able to expand with the right dreams and right ideas? Currently priced at an attractive 11.49% cap rate this quiet almost 11 acre mobile home park with 5 park owned homes (POH) of varying years and 4 tenant owned homes (TOH) is setup for success and ease of operation for the new owners. With the ability to expand to upwards of 25+ total rentable lots this place has it all for the dreamer and developer. While being quiet, it also includes a 350' width of some of the only commercially zoned land on US 2 in the township. The commercial property has not been developed by the current owners, but the possibilities are endless! The park has seen several updates throughout the last few years including major water line repairs & electrical updates. The park is supplied by township utilities including trash pickup, water & sewer. DTE provides natural gas and all units are individually metered. Water meter is split, but all units have individual shutoffs for service. There are currently 4 lots ready for homes to be placed, providing additional income with very little effort. There are a total of 13 rentable lots as the park is currently equipped. The POH homes either are affixed to the property or include titles with the sale. Model years are 2x 2024, 2x 1990s, 1x 1970s. All of the older mobile homes have seen total rehabs in the last 2-3 years. Including new floors, new insulation, new drywall, new paint, new roof(s), new windows the list goes on and on! All park owned homes have existing leases in place. All tenant owned homes are either under lease or month to month. Rent roll provided only to pre-approved buyers. Average lot rent $300. There is also a 20x30 garage with power located in the southern middle of the property to be able to store all maintenance items on site for ease of use. With the possibility of on-site management as well as maintenance this makes a great investment for either the savvy remote entrepreneur, or the first time investor! *Beds/Baths are total of park owned homes **Square feet is estimate of park owned homes. Listing agent is an owner and operator of this property. They are licensed in the state of Michigan.
Location
State MI
County Iron
Area Crystal Falls Twp (36005)
Zoning Multi-Family,Commercial
Interior
Cooling None
Exterior
Parking Features 21+ Spaces
Building
Lot Description Utilities Underground, Cleared
Foundation Piller/Post/Pier, Slab
Water Public Water
Structure Type Other
Others
Ownership Private
SqFt Source See Remarks
Energy Description Natural Gas
Financing Cash,Commercial Loan,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by RE/MAX NORTH COUNTRY
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