535 Co 1196 Rd, Cullman, AL 35057
1 Unit Mobile Home Park | $1,850,000 ($1,850,000/Unit) | 8.54% Cap Rate | Cullman, AL 35057
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 7 days
Asking Price $1,850,000
- Property Type
-
Multifamily
Listing Contacts
Cody Jaggwe
Verified Profile
William Capone
Verified Profile
Stephen Kruszenski
Verified Profile
Kristen Deninno
Verified Profile
Andrew Ackerman
Verified Profile
- Property Info
Property Overview
Sands Investment Group is Pleased to Exclusively Offer For Sale the New Development Fly South RV Campground Located at 535 County Road 1196 in Cullman, AL. This Deal is Priced Below Replacement at $15,546 Per Allowable Lot; 42 Lots Developed, 77 Additional Lots Approved Conveniently Located in Cullman, AL Right Off the I-65 Corridor 1 Hour From Birmingham, 1 Hour From Huntsville, 2 Hours From Nashville and 3 Hours From Atlanta, Providing For a Secured Investment.
BoR: Andrew Ackerman - Lic. AL #1089690
BoR: Andrew Ackerman - Lic. AL #1089690
Property Details
- Year Built
- 2000
- Stories
- 1
- Property Subtype
- Manufactured Housing/Mobile Home, Dormitory
- Lot Size (sq. ft)
- 784,080 SF
- Units
- 1
Highlights
- Priced at $15,546 Per Allowable Lot; $44,047 Per Operating Lots; 42 Lots Currently Operating, 77 Additional Lots Approved
- Park Opened Doors in Q1 2024 and Has Seen Strong Growth in Occupancy
- Conveniently Located in Cullman, AL With Quick Access to UNA Highway and I-65
- 1 Hour From Birmingham, 1 Hour From Huntsville, 2 Hours From Nashville and 3 Hours From Atlanta
- Pro-Forma 8.54% Cap at 75% Occupancy; Pro-Forma 12.10% Cap at 100% Occupancy Utilizing Only the Current 42 Lots
- Park Sits on 18 Acres, Gated Entry to Park, 42 Active Sites, All 30 / 50 Amp Full Hook Up, Septic Systems Setup 1:7 Ratio
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