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Browse More Listings in Multifamily For Sale, Pelican Rapids, MN or Minnesota

Multifamily Property For Sale

Pelican Hills RV

20098 S. Pelican Dr., Pelican Rapids, MN 56572

Price:
$1,550,000
No. Spaces:
175
Building Size:
3,200 SF
Price/Space:
$8,857.14
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Additional Sub-types:
Special Purpose (Other)
Property Use Type:
Investment
Cap Rate:
12.70%
Occupancy:
85%
Lot Size:
77.44 AC
Find Out More...

Last Verified 10/29/2009 Listing ID 16181942

Highlights

175 Seasonal Sites
Club House

Convenience Store

Description

Cash flowing seasonal park in great tourism area. Park runs at very high occupancy and is only 45 minutes from Fargo, ND. Grounds include convenience store w/ gas, groceries and bait, community center, shower house(s) maintenance garage and rental cabin. Business consists of 14 mobile home sites, 3 tent sites, 157 FHU RV sites (30/50 amp service, TV, Phone, DSL (individual buy) and concrete wheel pads available), 14 MH sites, 3 primitive, 120+ boat parking spaces. Total of 175 sites.

Pelican Lake Access - West Central MN vacation Destination area.

Financial Summary

Actual
Year
2009
Scheduled Gross Income
$403,300
Effective Gross Income
$315,074
Operating Expenses
$325,018
Pre-Tax Cash Flow
$171,756

Map of 20098 S. Pelican Dr., Pelican Rapids, MN 56572 (Otter Tail County)

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Created 4/6/2009

Additional Information for 20098 S Pelican Drive, Pelican Rapids, MN 56572

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Pelican Hills RV

20098 S. Pelican Dr., Pelican Rapids, MN, 56572