50 Davis St - Manufactured Housing/Mobile Housing FOR SALE


Presque Isle, ME 04769
$1,200,000 USD
209-840-3460
50 Davis St, Presque Isle, ME for Sale
$1,200,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/14
null | 9.26% Cap Rate

50 Davis St
Presque Isle, ME 04769


HIGHLIGHTS

  • 86-pad, all-age MHP at $1,200,000 — just $13,953 per pad, well below replacement cost
  • NO CREATIVE FINANCING, SELLER FINANCING, OR PREFERRED EQUITY — cash or conventional only
  • $59,226 stabilized NOI in place today — a 4.94% cap
  • 50 vacant pads with infrastructure already in the ground — pads, paved roads, municipal water/sewer
  • Billback never implemented — park-paid water/sewer (~44% of revenue) is untapped
  • Flat $350 lot rents, untouched below market — day-one mark-to-market lever

OVERVIEW

Presque Isle MHP at 50 Davis Street, Presque Isle, ME offers a rare opportunity to acquire an 86-site, all-age manufactured housing community in the commercial hub of Aroostook County. Priced at $1,200,000, this value-add asset presents an attractive basis of just $13,953 per pad, well below comparable county pricing. Currently 41.9% occupied, the property features 27 lot-rent sites, 8 park-owned homes, 1 single-family home, and 50 vacant pads ready for lease-up and infill. Investors can capitalize on significant upside through occupancy growth, rental increases, and the opportunity to implement water and sewer billback, which has never been utilized. Municipal water and sewer are already in place, while electric is directly billed to tenants. With pro forma NOI projected at approximately $111,092 at full occupancy—before any utility billback—this offering delivers compelling income growth potential and a projected 9.3% yield-on-cost. Located adjacent to Presque Isle International Airport and within one of Northern Maine's key service and employment centers, this community combines scale, affordability, and operational upside in a high-demand regional market.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$34 USD /SF

# OF UNITS

85

PRICE/UNIT

$14,118

CAP RATE

9.26%

% LEASED

45%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1900

PARKING SPACES

2

LAND DETAILS

LAND ACRES

8.2 AC

LAND SF

357,192 SF

ZONING

UR

APN/PARCEL ID

PREE-000044-000057-000050

ASK ABOUT THIS PROPERTY

Dylan BrazilCommercial Real Estate Investors IncMore Info
209-840-3460

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Dylan BrazilCommercial Real Estate Investors IncMore Info
209-840-3460

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