1015 N Main St - Manufactured Housing/Mobile Housing FOR SALE


Marion, OH 43302
$399,000 USD
217-202-0924
1015 N Main St, Marion, OH for Sale
$399,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/22
null | Request Cap Rate

1015 N Main St
Marion, OH 43302


HIGHLIGHTS

  • City water & city sewer!
  • Value-add park!
  • Decent sized metro!

OVERVIEW

Buckeye Trailer Park in Marion, Ohio is a 1.75-acre, zoned mobile home park built in 1950 and, per county records, renovated in 2007. The property is not in a flood zone. The current owner—who has held the asset for almost four years—operates without an on-site manager, though a maintenance person is in place and is believed to be a good managerial candidate. The community contains 32 pads the owner estimates at approximately 60' x 20'. There are currently three occupied pads plus a nice single-family residence on site. Some vacant trailers are present, but no trailers need to be removed, none are believed to be held for back taxes, and there are no tenant-owned homes. Five park-owned single-wide homes are included (no double-wides), with titles in hand; average rent for the park-owned homes is $650 per month, and the last rent increase was in 2023. The average area pad rent is believed to be about $400 per month. All vacant pads are able to accept trailers. The park is served by city water and city sewer; the park pays for water for the entire community and does not back-bill tenants. Tenants are billed directly by the utility providers for electricity and gas. Electrical pedestals are 100-amp, and the underground pipes are believed to be clay. The park pays for garbage service. Internal roads are gravel and described by ownership as in “OK” condition; the park is responsible for road maintenance. Tenants mow their own spaces while the park maintains common areas, and snow is moved as necessary. The park offers off-street parking. Operationally, all tenants are current on rent. The park uses month-to-month leases, and tenants pay via Cash App and Zelle. In addition to the homesites, there is a single family residence on the property. This offering is for the park in its current as-is condition. Available financials and other due-diligence materials are limited, so buyers should plan to rely on their own inspections and analysis. Given the documentation constraints and current occupancy, we are prioritizing clean, non-contingent all-cash proposals with proof of funds. Jonathan Fisher is a licensed broker in the State of Ohio under MR. LANDMAN, LLC. LIC#BRKP.2025001469. Location: Marion is a city in Marion County, Ohio, and its county seat. It is located in north-central Ohio, approximately 50 miles north of Columbus. The population was 35,999 at the 2020 census, down slightly from 36,837 at the 2010 census. It is the largest city in Marion County and the principal city of the Marion micropolitan area. It is also part of the larger Columbus–Marion–Zanesville, OH Combined Statistical Area. The median home cost in Marion is $102,900. Home appreciation the last 10 years has been 89.4%. Home Appreciation in Marion is up 16.5%. Renters make up 35.2% of the Marion population. The average 1-bedroom unit rents for $730/month. The average 2-bedroom unit rents for $960/month. The average 3-bedroom unit rents for $1,170/month. The average 4-bedroom unit rents for $1,290/month. Marion has an unemployment rate of 5.0%. The US average is 6.0%. Future job growth over the next ten years is predicted to be 26.2%, which is lower than the US average of 33.5%. The Median household income of a Marion resident is $41,884 a year. The US average is $69,021 a year. Marion violent crime is 15.8. (The US average is 22.7) Marion property crime is 50.4. (The US average is 35.4) Marion County is a county located in the U.S. state of Ohio. As of the 2020 census, the population was 65,359. Its county seat is Marion. The county was erected by the state of Ohio on February 20, 1820 and later reorganized in 1824. It is named for General Francis "Swamp Fox" Marion, a South Carolinian officer in the Revolutionary War. Marion County comprises the Marion, OH Micropolitan Statistical Area, which is also included in the Columbus-Marion-Zanesville, OH Combined Statistical Area. Marion County has a diverse economy. Here are the ten largest employers in Marion County, OH: • Whirlpool Corporation (4,444 employees) • OhioHealth Marion General Hospital (1,421 employees) • Marion City Schools (769 employees) • Silver Line Building Products (Andersen) (450 employees) • The Kroger Co. (432 employees) • Wyandot Snacks (400 employees) • Graphic Packaging International (365 employees) • US Yachiyo Inc. (260 employees) • Union Tank Car Company (231 employees) • Nucor (Marion) (230 employees)

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$40 USD /SF

# OF UNITS

32

PRICE/UNIT

$12,469

CAP RATE

Request Cap Rate

% LEASED

12%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mobile Home Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,056 SF

ZONING

MHP

APN/PARCEL ID

12-2090000.100

ASK ABOUT THIS PROPERTY

Jon FisherMr. LandmanMore Info
217-202-0924

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Jon FisherMr. LandmanMore Info
217-202-0924

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.