Thunderbird Village

Springfield, Michigan

Property overview

The City of Springfield is located just north of the 1-94 Corridor in Southwest Michigan - in the midst of the Kalamazoo-Battle Creek Metropolitan Area. The two-county region consists of more than 365,000 residents. Springfield is approximately 3.81 square miles in area. The City of Springfield’s economy is mostly driven by small businesses - there are more than 250 small businesses in the city limits including: Chrysler, Dodge, Jeep, Toyota, and Honda dealerships, Dare Products, the GHS String Company, Waste Management, RW George, Beech and Rich Coatings, Fastenal, and Behnke Trucking.

MHRE Inc. is pleased to present Thunderbird Village located in Springfield, Michigan. Built in 1956 and renovated in 2006, the park is sitting on 31 acres. Park residents are responsible for water, sewer, gas, and electricity. The community is on city water and sewer under a master meter with the occupied sites individually sub-metered. As of March 2019, there are 56 resident owned homes, 28 lease option homes, and 3 leased homes. In April 2019, the owner is increasing site rents by $25 to $350.

Thunderbird Village
1145 Harmonia Road
Springfield, Michigan 49037

For detailed information on this property please contact: Christopher Nortley (586) 884-8416.

Property Summary

Total Sites144
Year Constructed1956
Land (Acres) +0
Occupied Sites88
Vacant Sites56
Occupancy61.11%
Average Rent/Site$350
PRIMARY USEMHP
PROPERTY TYPEFamily
STAR CLASSIFICATION2.5
WATERMunicipal
SEWERMunicipal
WATER METER TYPESub-metered
SEWER METER TYPESub-metered

OFFERING SUMMARY

Community Price$2,750,000
Community Owned Homes & Notes$550,000
Total Investment$3,300,000
Price per Site$19,097
Price Occupied per Site$31,250
Cap Rate (Without Reserves)8.84%

HOME SUMMARY

LEASED HOMES3
LEASED OPTION HOMES25