Mayfield Mobile Home Park

<p>The Esterson MHC Team is pleased to present Spring City MHP & RV, a 78-unit manufactured housing and RV community located in Johnson City, TN, offering investors a cash-flowing asset with strong upside through lot rent increases and vacant lot infill.​ Spring City MHP & RV is situated at 116 Spring City Drive in Johnson City, TN 37601 (Washington County), within the Johnson City, TN MSA.​ The property sits on 5.9 acres and is NOT in a Flood Zone and NOT in an Opportunity Zone.​ Parcel numbers are 038A B 003.01 and 038A B 005.00.​ Johnson City is the 8th largest city in Tennessee with a 2026 population of approximately 74,892, growing at 0.85% annually (up 5.3% since the 2020 census).​ The Johnson City, TN MSA benefits from a diversified employment base anchored by East Tennessee State University (ETSU), the James H.​ Quillen VA Medical Center, Ballad Health System, and a growing manufacturing and logistics sector.​ The Tri-Cities region (Johnson City, Kingsport, Bristol) has emerged as one of the most affordable and fastest-growing metro areas in the Southeast.​</p><p></p><p>The community is 78 total units consisting of 42 Tenant Owned Homes (TOH) (average lot rent $419/month), 2 Rent-to-Own (RTO) units at $450/month lot rent plus $375/month average RTO payments, 25 rented long-term RV lots at an average of $579/month (all RV tenants increasing to $625/month effective July 1), 5 vacant RV lots, and 4 vacant mobile home lots.​ Current occupancy is 88.5%.​ Water is public, billed back to tenants.​ Sewer is public, billed back to tenants.​ Trash is curbside (included in city water/sewer/trash bill), and billed back to tenants.​ Electric is direct billed to MH tenants and landlord pays electric for RV tenants and common areas.​ Gas/propane, and cable are tenant-paid via direct bill.​ The park uses Metron meters for water billing ($7.50/month meter reimbursement per MH tenant).​ The main road running through the park is paved and publicly maintained.​ Landlord mows common areas.​ No snow removal is required.​</p><p></p><p>Spring City MHP & RV is being offered at a purchase price of $3,600,000, reflecting an 8.47% global cap rate on in-place operations (P&L 1).​ The mark-to-market P&L 3 yields a 11.2% cap rate at full occupancy with maximized rents, translating to a pro forma upside value of approximately $5,729,860 at a 7.0% exit cap.​ The most immediate upside is the July 1st RV rent increase to $625/month across all 25 occupied RV lots, representing an estimated $13,800/year in additional gross revenue.​ Investors may achieve further upside by infilling 5 vacant RV lots and 4 vacant MH lots, increasing MH lot rents toward the $585/month market rate, and optimizing utility billback recapture rates.​ Financing is contemplated with a community bank recourse loan of $2,160,000 (60% LTV) at an estimated 6.50% interest rate with 25-year amortization.​ All offers should include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience.​</p>

<p><strong style="color: rgba(0, 82, 204, 1)">Colliers Manufactured Housing & RV Group</strong><span style="color: rgba(0, 82, 204, 1)">, </span>serving as the exclusive agent for the Owner, is pleased to offer the opportunity to acquire the<strong style="color: rgba(29, 118, 219, 1)"> Southern Tennessee MHC Portfolio,</strong><span style="color: rgba(0, 82, 204, 1)"> </span>a 53-unit, well-located affordable housing opportunity consisting of two properties in south-central Tennessee less than 2 hours from Nashville and Chattanooga and less than an hour from Huntsville, AL</p><p></p><p>The portfolio consists of two all-age mobile home communities, <strong style="color: rgba(0, 82, 204, 1)">Pulaski Grove and The Landing at Fayetteville,</strong><span style="color: rgba(0, 82, 204, 1)"> </span>each offering a value-add investment opportunity with spacious lots, newly rehabbed homes and on-site management providing immediate upside through leasing, increasing rates, and expanding new home pads.​</p><p></p><p><strong style="color: rgba(29, 118, 219, 1)">The asking price for the portfolio is $3,500,000 ($66,038/site).​ </strong>This represents a 9.0% T-1/T-12 Cap Rate (current rent roll).​</p>

<p>Positioned along Chattanooga’s established Lee Highway commercial corridor, <strong>5710 Lee Hwy presents a ±4.11-acre commercial development opportunity</strong> with existing improvements, on-site utilities, and significant exposure along a corridor carrying approximately <strong>±37,000 vehicles per day</strong>.​</p><p>The offering consists of two contiguous parcels totaling approximately <strong>4.11 acres</strong>, including a ±3.83-acre tract and a ±0.28-acre tract improved with an approximately <strong>3,600 SF commercial building</strong>.​ The existing building includes finished office/reception areas along with service/shop space and overhead-door access, providing potential functionality while a purchaser evaluates the property’s longer-term redevelopment strategy.​</p><p>A significant portion of the site was <strong>formerly utilized as a mobile home park</strong>, and utilities are already present at the property.​ This existing infrastructure, combined with the size and configuration of the assemblage, creates an opportunity for a purchaser seeking a substantial commercial site along Lee Highway.​</p><p>Offered at <strong>$3,904,000</strong>, the property provides an opportunity to acquire approximately 4.11 acres in an established Chattanooga commercial corridor with existing utility infrastructure and redevelopment potential.​</p><p>Prospective purchasers should independently verify zoning, utility capacity and connections, development feasibility, floodplain requirements, permitting, and all other matters applicable to their intended use.​</p>

<p><span style="color: rgba(39, 49, 57, 1)">Marcus & Millichap is pleased to present Atwood Acres MHP, a 32-space manufactured housing community located at 2945 US-79,Atwood, Tennessee.​ Situated directly along U.​S.​ Highway 79, the property benefits from excellent visibility and convenient access to surrounding communities.​ The park is approximately 3 miles from downtown Atwood, 10 miles from McKenzie, 16 miles from Huntingdon, and 25 miles from Jackson, placing residents within easy commuting distance of major employment, retail, healthcare, and educational amenities throughout West Tennessee.​ Its strategic location along a primary transportation corridor enhances long-term tenant demand while offering investors exposure to a stable, rural market with strong regional connectivity.​</span></p><p></p><p><span style="color: rgba(39, 49, 57, 1)">Atwood Acres MHP is being offered at a 6.93 percent capitalization rate with an estimated net operating income of $152,414.​ The park consists of 30 park-owned homes, 2 tenant-owned homes, and a 10-unit storage building, with approximately 1 acre available for expansion.​ Historically, the park operated at 85 percent occupancy, with all tenants on long-term leases; 100 percent secured on 12 month agreements, providing stable and predictable cash flow.​ Monthly rents average $755, below the local market range of $825-$1000.​</span></p><p></p><p><span style="color: rgba(39, 49, 57, 1)">The community is serviced by Atwood Utilities for water and sewer, while water, sewer, electric, and trash are all separately metered and paid directly by the tenants.​ The property is currently owner-managed, with experienced on-site managers willing to stay on after a sale.​ With long-term leases, strong historical occupancy, and a utility structure that minimizes owner expenses, Atwood Acres MHP presents an attractive opportunity for long-term ownership.​ Please do not visit the park without prior approval, and all property tours must be arranged through Marcus & Millichap listing agents.​</span></p>

<p><span style="color: rgba(33, 37, 41, 1)">536 E 20th St.​ is a rare hard to find offering containing 3.77 surveyed acres inside the Cookeville City limits and is currently zoned RMHP and contains 43 mobile home sites.​ Cookeville City does not allow any more residential mobile home parks this one is one of the last of its kind.​ It also has great potential to be rezoned as RAO which would allow 74 units.​</span></p>

<p>27 park-owned homes across two Southeast markets, offered individually or together at $1,498,000.​ The portfolio consists of two mobile home parks - Dayton MHP in Rhea County, Tennessee and Armuchee MHP in Floyd County, Georgia - marketed both individually and as a combined $1,498,000 portfolio at approximately 9.82% blended cap.​</p><p>Dayton MHP offers meaningful lease-up and operational upside.​ Ownership previously operated Dayton at or near full occupancy before management attention shifted elsewhere.​ Recent leasing has moved occupancy to 79%, with one additional home under lease pending - the remaining upside is operational, not a market issue.​ The City has confirmed no zoning restrictions on the property and soil percolation is favorable - ownership believes 8 or more additional homesites could be added, subject to buyer's engineering review.​</p><p>Armuchee MHP is 85% occupied at 11 of 13 homes with a 9.95% in-place cap and approximately 8% rent growth over the past 12 months - immediate, durable income.​</p>