Skip to main content

Mobile Home Park

Road Runner Mobile Home Park

735 US Hwy 285, Fort Stockton, TX 79735

Listing Price: $3,150,000

Cap Rate
7.99%
Number of Spaces
231
Lot Size
51.17 acres
Occupancy
88.0%
Price/Space
$13,636
Spaces/Acre
4.51
Year Built
1970

Investment Overview

Road Runner Mobile Home Park is a 231-site park located in Fort Stockton, Texas. The park consists of 60 resident owned mobile home lot rents, 18 RV lots rents, nine bunkhouses, 18 lease to own mobile home lot rents, 2 park owned rental home lot rents, a commercial store, and 123 vacant sites. There are also 22 partially developed mobile home sites that have water, sewer, and road access that are not included in the 231 total site count. Road Runner sits on over 50 acres of land with asphalt and gravel roads throughout the park. Amenities at the park include laundry, showers, and a playground. The electricity is paid by the tenants and the water, sewer and trash is sub-metered and billed back to the residents. The park operates on city water and sewer and there is gas on 12 sites that is submetered. The lot rent portion of the offering is being offered at a $3,150,000 price. This is a 7.99 percent capitalization rate off income (not including any mobile home rental income, mobile home lease to own income, nonrefundable lease to own deposits, or home sales) from July, 2020 through June, 2021 (full trailing 12 months) and expenses from July, 2020 through May, 2021 (trailing 11 months annualized). The offering includes an additional 18 lease to own homes with a remaining balance of $621,031, two occupied rental park owned homes with a combined value of $60,000 (a 2019 Oak Creek Silver Spur 16 x 76 which is generating $700 on top of lot rent, and a 1994 Silver Creek 16 x 76 which is generating $625 on top of lot rent) , two vacant park owned homes with a combined value of $42,000, and seven park owned rental RV’s that have a combined value of $20,000. This portion of the asset is being offered at a price of $600,000 for a total price of $3,750,000. Fort Stockton is located within Pecos County, of West Texas. The city of Fort Stockton offers its residents a nice small town feel and many local attractions including the James Rooney Memorial Park (walking distance from park with 24 hole disc golf course, long walking track, and many BBQ spots), Annie Riggs Memorial Museum, Old Pecos County Jail, and Historic Fort Stockton managed by the Historical Society, and Paisano Pete, the giant Road Runner statue. The major employers in the area include the Fort Stockton Independent School District, Texas Department of Criminal Justice, Pecos County Memorial Hospital, Walmart, Halliburton Co. and also major projects such as solar and wind farms nearby that have great RV and mobile home park potential. With these major employers, there is a need for both short and long-term housing in the area. The asset is located just off US Highway 285 and is less than two miles from Interstate 10 that goes straight through the city Fort Stockton. The park is also located less than 10 minutes away from the nearest Walmart and school. The current management would also be open to staying on board for the future owners. Road Runner RV and Mobile Home Park is being offered at a day one capitalization rate of 7.99 percent and a pro forma capitalization rate of 9.24 percent.

Investment Highlights

  • Day One Cap Rate of 7.99 Percent and Pro Forma Cap Rate of 9.24 Percent
  • Park Operates on City Water and Sewer
  • Located Less than 2 Miles from Interstate 10
  • Only Mobile Home Park for Approximately 60 Miles
  • Amenities Include Onsite Laundry, Showers and Playground

Exclusively Listed By

Mobile Home Park

Road Runner Mobile Home Park

Listing Price: $3,150,000

Cap Rate
7.99%
Number of Spaces
231
Lot Size
51.17 acres
Occupancy
88.0%
Price/Space
$13,636
Spaces/Acre
4.51
Year Built
1970

Investment Highlights

  • Day One Cap Rate of 7.99 Percent and Pro Forma Cap Rate of 9.24 Percent
  • Park Operates on City Water and Sewer
  • Located Less than 2 Miles from Interstate 10
  • Only Mobile Home Park for Approximately 60 Miles
  • Amenities Include Onsite Laundry, Showers and Playground

Investment Overview

Road Runner Mobile Home Park is a 231-site park located in Fort Stockton, Texas. The park consists of 60 resident owned mobile home lot rents, 18 RV lots rents, nine bunkhouses, 18 lease to own mobile home lot rents, 2 park owned rental home lot rents, a commercial store, and 123 vacant sites. There are also 22 partially developed mobile home sites that have water, sewer, and road access that are not included in the 231 total site count. Road Runner sits on over 50 acres of land with asphalt and gravel roads throughout the park. Amenities at the park include laundry, showers, and a playground. The electricity is paid by the tenants and the water, sewer and trash is sub-metered and billed back to the residents. The park operates on city water and sewer and there is gas on 12 sites that is submetered. The lot rent portion of the offering is being offered at a $3,150,000 price. This is a 7.99 percent capitalization rate off income (not including any mobile home rental income, mobile home lease to own income, nonrefundable lease to own deposits, or home sales) from July, 2020 through June, 2021 (full trailing 12 months) and expenses from July, 2020 through May, 2021 (trailing 11 months annualized). The offering includes an additional 18 lease to own homes with a remaining balance of $621,031, two occupied rental park owned homes with a combined value of $60,000 (a 2019 Oak Creek Silver Spur 16 x 76 which is generating $700 on top of lot rent, and a 1994 Silver Creek 16 x 76 which is generating $625 on top of lot rent) , two vacant park owned homes with a combined value of $42,000, and seven park owned rental RV’s that have a combined value of $20,000. This portion of the asset is being offered at a price of $600,000 for a total price of $3,750,000. Fort Stockton is located within Pecos County, of West Texas. The city of Fort Stockton offers its residents a nice small town feel and many local attractions including the James Rooney Memorial Park (walking distance from park with 24 hole disc golf course, long walking track, and many BBQ spots), Annie Riggs Memorial Museum, Old Pecos County Jail, and Historic Fort Stockton managed by the Historical Society, and Paisano Pete, the giant Road Runner statue. The major employers in the area include the Fort Stockton Independent School District, Texas Department of Criminal Justice, Pecos County Memorial Hospital, Walmart, Halliburton Co. and also major projects such as solar and wind farms nearby that have great RV and mobile home park potential. With these major employers, there is a need for both short and long-term housing in the area. The asset is located just off US Highway 285 and is less than two miles from Interstate 10 that goes straight through the city Fort Stockton. The park is also located less than 10 minutes away from the nearest Walmart and school. The current management would also be open to staying on board for the future owners. Road Runner RV and Mobile Home Park is being offered at a day one capitalization rate of 7.99 percent and a pro forma capitalization rate of 9.24 percent.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower