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Mobile Home Park

Midland County Mobile Home & RV Park

5401 E County Rd 120, Midland, TX 79706

Listing Price: $1,500,000

Cap Rate
9.04%
Number of Spaces
34
Lot Size
31.22 acres
Occupancy
83.0%
Price/Space
$44,118
Spaces/Acre
1.09
Year Built
1981

Investment Overview

Midland County Mobile Home & RV Park is located in Midland, Texas on 31.22 acres. The property has 34 total sites which are comprised of 14 cabins, 10 mobile home lot rents, eight RV lot rents, and two empty lots. Approximately 20 acres of the land are available for future development. Residents enjoy amenities like Wi-Fi, cable, and laundry facilities. The property operates on well water and three septic sewer tanks. The ownership pays the cost of water, sewer, and trash removal. Additionally, electricity is included for RV lots and cabins, while mobile home lot tenants are responsible for their own electric usage. There is a full time site manager who would like to stay onboard for future ownership. Situated just 1.4 miles from Highway 158 (traffic exceeding 15,000 vehicles daily) and five minutes from I-20 (traffic exceeding 38,000 vehicles daily), the property enjoys excellent visibility and easy access.
Beyond the property itself, the investment opportunity is bolstered by Midland’s dynamic economic climate:
• Fastest-Growing Economy: Midland boasts the fastest-growing economy among the 100 largest midsize cities in the U.S., with a projected growth rate of 6.7 percent in 2023. This growth is expected to outpace San Francisco, the top performer in a recent national growth report.
• Job Market Strength: The Midland Metropolitan Statistical Area boasts the nation’s largest year-over-year employment increase and an impressive 11.4 percent jump in employment between January 2022 and 2023.
• High Income Levels: Midland holds the distinction of having the highest GDP per capita nationwide at a staggering $242,730, nearly surpassing San Jose, California’s $210,235. Personal income per capita in Midland is also the third-highest in the nation at $125,455.
• Low Unemployment: Midland enjoys the lowest unemployment rate in Texas at a healthy 2.2 percent, far lower than the state average of 3.5 percent.
• Continued Investment: The upcoming construction of a new $225 million behavioral health center in November 2024 further underscores Midland’s commitment to growth and development.

Investment Highlights

  • Appraised for $1.65 Million on April 22, 2024
  • Open to Seller Finance
  • Management Willing to Stay Onboard
  • Approximately 20 Acres Available for Expansion
  • Located 16.5 Miles from Midland International Airport
  • Third Party Appraisal and Property Inspection Completed
  • Environmental Study Currently In Progress

Exclusively Listed By

Mobile Home Park

Midland County Mobile Home & RV Park

Listing Price: $1,500,000

Cap Rate
9.04%
Number of Spaces
34
Lot Size
31.22 acres
Occupancy
83.0%
Price/Space
$44,118
Spaces/Acre
1.09
Year Built
1981

Investment Highlights

  • Appraised for $1.65 Million on April 22, 2024
  • Open to Seller Finance
  • Management Willing to Stay Onboard
  • Approximately 20 Acres Available for Expansion
  • Located 16.5 Miles from Midland International Airport
  • Third Party Appraisal and Property Inspection Completed
  • Environmental Study Currently In Progress

Investment Overview

Midland County Mobile Home & RV Park is located in Midland, Texas on 31.22 acres. The property has 34 total sites which are comprised of 14 cabins, 10 mobile home lot rents, eight RV lot rents, and two empty lots. Approximately 20 acres of the land are available for future development. Residents enjoy amenities like Wi-Fi, cable, and laundry facilities. The property operates on well water and three septic sewer tanks. The ownership pays the cost of water, sewer, and trash removal. Additionally, electricity is included for RV lots and cabins, while mobile home lot tenants are responsible for their own electric usage. There is a full time site manager who would like to stay onboard for future ownership. Situated just 1.4 miles from Highway 158 (traffic exceeding 15,000 vehicles daily) and five minutes from I-20 (traffic exceeding 38,000 vehicles daily), the property enjoys excellent visibility and easy access. Beyond the property itself, the investment opportunity is bolstered by Midland’s dynamic economic climate: • Fastest-Growing Economy: Midland boasts the fastest-growing economy among the 100 largest midsize cities in the U.S., with a projected growth rate of 6.7 percent in 2023. This growth is expected to outpace San Francisco, the top performer in a recent national growth report. • Job Market Strength: The Midland Metropolitan Statistical Area boasts the nation’s largest year-over-year employment increase and an impressive 11.4 percent jump in employment between January 2022 and 2023. • High Income Levels: Midland holds the distinction of having the highest GDP per capita nationwide at a staggering $242,730, nearly surpassing San Jose, California’s $210,235. Personal income per capita in Midland is also the third-highest in the nation at $125,455. • Low Unemployment: Midland enjoys the lowest unemployment rate in Texas at a healthy 2.2 percent, far lower than the state average of 3.5 percent. • Continued Investment: The upcoming construction of a new $225 million behavioral health center in November 2024 further underscores Midland’s commitment to growth and development.

Exclusively Listed By

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