Mobile Home Park
Elm Grove Village Mobile Home Park
400 SE 58th Ave, Amarillo, TX 79118
Listing Price: $1,050,000
Investment Overview
Elm Grove Village Mobile Home Park is a 36-site property located in Amarillo, Texas. The sites are comprised of 35 park-owned mobile homes and one mobile home lot rent. The tenants currently pay for electric and gas with all other utilities paid for by the ownership. The asset operates on well water and septic sewer, and there is gas onsite at every unit.
Amarillo is in the center of the Texas Panhandle, a 26-county area that is bordered by New Mexico and Oklahoma. It is the 14th most populous city in Texas and the most populous city in the panhandle. The area is known for attractions such as the Cadillac Ranch, the Palo Duro Canyon State Park, and the Panhandle-Plains Historical Museum. They have reported an increase in economic development and tourism expenditures, going from $2 million in 2022 to $4 million in 2023.
The most recent developments include the grand opening of the highly anticipated Buc-ee’s travel center on December 16, 2024. The massive 74,000 square foot facility will create at least 200 full-time jobs for the community and is expecting about $8 million worth of revenue per year.
On October 11, 2024, the president of the Amarillo Economic Development Corporation shared updates on some of the latest projects such as:
- The CVMR (Chemical Vapor Metal Refining) project is a $1.5 billion large-scale rare-earth mineral refinery facility being built in Amarillo. This facility, covering 540 acres and spanning 500,000 square feet, will be the first of its kind in the United States. It is expected to employ approximately 1,000 workers, generating an annual payroll of over $100 million.
- AG Plant Systems, also known as Plant Agricultural Systems (PLANT-AS), is developing a $510 million Controlled Environment Agriculture (CEA) facility in Amarillo. The project, which will span 400 acres and include 9 million square feet of advanced hydroponic production facilities, is set to break ground between December 2024 and January 2025. The facility will create over 700 jobs with an annual payroll of $35 million as it scales up over the next seven years.
- The construction of the $850 million Producer Owned Beef processing facility has temporarily been paused but is expected to recommence in 60 days. Once completed, the project is expected to create approximately 1,500 jobs.
Investment Highlights
- 11.47% Day One Cap Rate
- 35 Park-Owned Homes and 1 Mobile Home Lot Rent
- Less than 5 Miles from Major Highways - U.S. Route 60 and Interstate 27
- Approximately 12 Miles from Rick Husband Amarillo International Airport
- Management Willing to Stay Onboard for New Ownership
Exclusively Listed By
Listing Price: $1,050,000
Investment Highlights
- 11.47% Day One Cap Rate
- 35 Park-Owned Homes and 1 Mobile Home Lot Rent
- Less than 5 Miles from Major Highways - U.S. Route 60 and Interstate 27
- Approximately 12 Miles from Rick Husband Amarillo International Airport
- Management Willing to Stay Onboard for New Ownership
Investment Overview
Elm Grove Village Mobile Home Park is a 36-site property located in Amarillo, Texas. The sites are comprised of 35 park-owned mobile homes and one mobile home lot rent. The tenants currently pay for electric and gas with all other utilities paid for by the ownership. The asset operates on well water and septic sewer, and there is gas onsite at every unit. Amarillo is in the center of the Texas Panhandle, a 26-county area that is bordered by New Mexico and Oklahoma. It is the 14th most populous city in Texas and the most populous city in the panhandle. The area is known for attractions such as the Cadillac Ranch, the Palo Duro Canyon State Park, and the Panhandle-Plains Historical Museum. They have reported an increase in economic development and tourism expenditures, going from $2 million in 2022 to $4 million in 2023. The most recent developments include the grand opening of the highly anticipated Buc-ee’s travel center on December 16, 2024. The massive 74,000 square foot facility will create at least 200 full-time jobs for the community and is expecting about $8 million worth of revenue per year. On October 11, 2024, the president of the Amarillo Economic Development Corporation shared updates on some of the latest projects such as: - The CVMR (Chemical Vapor Metal Refining) project is a $1.5 billion large-scale rare-earth mineral refinery facility being built in Amarillo. This facility, covering 540 acres and spanning 500,000 square feet, will be the first of its kind in the United States. It is expected to employ approximately 1,000 workers, generating an annual payroll of over $100 million. - AG Plant Systems, also known as Plant Agricultural Systems (PLANT-AS), is developing a $510 million Controlled Environment Agriculture (CEA) facility in Amarillo. The project, which will span 400 acres and include 9 million square feet of advanced hydroponic production facilities, is set to break ground between December 2024 and January 2025. The facility will create over 700 jobs with an annual payroll of $35 million as it scales up over the next seven years. - The construction of the $850 million Producer Owned Beef processing facility has temporarily been paused but is expected to recommence in 60 days. Once completed, the project is expected to create approximately 1,500 jobs.
Exclusively Listed By

