Investment Overview

Marcus & Millichap is pleased to present Hickory Ridge Mobile Home Park a 55-space mobile home park in Palestine, TX. Hickory Ridge Mobile Home Park is being offered at $15,273 a space. The park currently operates at 40 percent occupancy. The park consists of 22 occupied tenant owned homes, four abandoned homes, and 29 vacant lots. The park charges a monthly rate of $225 plus a $30 garbage service charge. The current rents are below market, as other parks in town charge between $275-$312 a month. Utilities at the park are Four Pines private water and an on-site treatment plant. The Park has two dumpsters that are onsite. The water is sub-metered and recaptured. Electricity is individually metered. The current manager is compensated $6,036 a year and lives offsite.