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7004 Stall Rd

North Charleston, SC 29406
  • $12,000,000
  • STATUS: Active
  • ON SITE: 124 Days
  • ID#: 30740510
UPDATED: 64 min ago
$12,000,000
  • 0
    BEDS
  • 5.6
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS

School Ratings & Info

Description

Business DescriptionEstablished Palmetto Holdings' Mobile Home Park for Sale!Offered for sale is the Palmetto Holdings Mobile Home Park Portfolio in the Charleston, South Carolina area.The Portfolio is comprised of three established mobile home parks with a combined total of 84 mobile home units (home & pad) and an additional two leasable single family homes. The three properties must be sold together. Current rent rate migration is moving the Portfolios Cap Rate from 6% to 7%.Palmetto Holdings Mobile Home Park Portfolio includes:Palmetto Park - 7004 Stall Road, North Charleston, SC- 42 mobile home units and 2 single family homes- Average per-unit rent is above $1000 per monthCentral Park Estates - 942 Orangeburg Road, Summerville, SC- 24 mobile home units- Average per-unit rent is above $1130 per monthCreekside Estates - 111 Garwood Road, Goose Creek, SC18 mobile home unitsAverage per-unit rent is above $775These rents are as of Q1 21. However, 1yr leases for all three parks are currently being renewed with an average increase of $250 per unit, per month. This rent rate migration is moving the Portfolios Cap Rate from 6% to 7%.The three parks have historically high occupancy rates and are located in the high growth economic development areas north of the city of Charleston. They are in close proximity to the areas major employers; military bases and facilities; port, rail, and distribution terminals; and the Charleston International Airport. They are also convenient to local schools, colleges and universities; healthcare, shopping and recreational outlets.NOTE*** the new leases will increase the per unit rent by at least $250 per unit per month

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www.thecassinagroup.com/homes/118628726
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7004 Stall Rd North Charleston, SC 29406

  • Price: $12,000,000
  • Status: Active
  • Updated: 64 min ago
  • ID#: 30740510
0
Beds
0
Baths
0
½ Baths
5.6
Acres
Neighborhood:
N. Charleston - Outside Mark Clark
County:
Charleston
Area:
N. Charleston - Outside Mark Clark
Property Description
Business DescriptionEstablished Palmetto Holdings' Mobile Home Park for Sale!Offered for sale is the Palmetto Holdings Mobile Home Park Portfolio in the Charleston, South Carolina area.The Portfolio is comprised of three established mobile home parks with a combined total of 84 mobile home units (home & pad) and an additional two leasable single family homes. The three properties must be sold together. Current rent rate migration is moving the Portfolios Cap Rate from 6% to 7%.Palmetto Holdings Mobile Home Park Portfolio includes:Palmetto Park - 7004 Stall Road, North Charleston, SC- 42 mobile home units and 2 single family homes- Average per-unit rent is above $1000 per monthCentral Park Estates - 942 Orangeburg Road, Summerville, SC- 24 mobile home units- Average per-unit rent is above $1130 per monthCreekside Estates - 111 Garwood Road, Goose Creek, SC18 mobile home unitsAverage per-unit rent is above $775These rents are as of Q1 21. However, 1yr leases for all three parks are currently being renewed with an average increase of $250 per unit, per month. This rent rate migration is moving the Portfolios Cap Rate from 6% to 7%.The three parks have historically high occupancy rates and are located in the high growth economic development areas north of the city of Charleston. They are in close proximity to the areas major employers; military bases and facilities; port, rail, and distribution terminals; and the Charleston International Airport. They are also convenient to local schools, colleges and universities; healthcare, shopping and recreational outlets.NOTE*** the new leases will increase the per unit rent by at least $250 per unit per month
Exterior Features

Land Size Min 5.600 Land Size Units Acre

Property Features

Property Status Existing Property Type Multi-Family Sale Price Min 12000000.00 Title 3 Mobile Home Parks Zoning Mhp

Listing courtesy of Harbourtowne Real Estate.
 
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The Cassina Group, LLC
309 Coleman Boulevard
Mount Pleasant SC, 29464