Property overview
Development opportunity is located 5 miles from the city of Danville, which is experiencing several revitalization projects, as well as a new $750 million Harrah’s Casino project to begin construction in 2022 and will bring 300+ jobs to the area; other major employers in include a Goodyear manufacturer, Danville Regional Medical Center and a Nestle facility. The community is also 2.5 miles from major Highway 29 and is a few hours from major cities such as Richmond, Raleigh and Greensboro.
Investment Highlights:
– 100% occupancy on developed sites
– Approval for 3 additional sites
– Subject property includes 70 acres adjacent to MHP with development potential for up to 200 additional sites
– Current site rent is $115 below market rent
– Year 1 Proforma includes 3 additional approved sites and a $10 rent increase
– Additional acreage priced at $5,914/acre; $200 below comps average
– 9 Park-Owned Homes; 8 are occupied, 9th was recently acquired and is currently being refurbished
– City owns and maintains community street lights; county trash
– Seller financing may be considered
MHRE Confidential #256
Virginia
Property Summary
| Total Sites | 23 |
| Year Constructed | 1994 |
| Land (Acres) + | 80.07 |
| Occupancy | 100% |
| Average Rent/Site | $185 |
| WATER | Private Well (2) |
| SEWER | Individual Septic Systems |
OFFERING SUMMARY
| Community Price | $1,100,000 |
