312 New Summerville Road, Kingsport, TN 37663
Listing Presented By
SIGNATURE PROPERTIES JC
Commercial/Industrial - Kingsport, TN
INVESTORS: Mobile Home Park in Colonial Heights in a very convenient location to all of the Tri-Cities. Currently there are 20 total sites with 16 lot rented, and 4 Park Owned that would convey plus one currently used for storage. The 4 acres have nice mountain views, and there might be a potential for more spaces. Tenants pay for utilities, and pro rata share of taxes. Please do not approach residents. The site plan shows 36 sites. No City Taxes. the Property produes GOI of $$3,453 per month; with NOI of $31,000. The listing price provides a 9% CAP rate. Seller will consider a 1031 tax exchange swap of a storage business for the park.
Built In: 1975
Last Updated: February 1, 2016
Posted: February 16, 2013