Hamilton Trailer Park
Hamilton RV and Trailer Park
11700 Thompson Ave, Sugar Creek, MO 64055
$1,300,000
Price
6.12 %
Cap Rate
12.75
GRM
27
Number of Lots
Hamilton RV and Trailer Park
  • This property consists of 29 lots with 27 Tenant owned homes on site as of year end. Ownership currently pays for trash and bills back water and sewer to the tenants. Current ownership also pays for lawn service. The property offers upside through lot rent increase and is located in a major market. This offers new ownership a safe and highly appreciating asset, as well as strong tenant demand.
Infrastructure
  • This property is served by city water and sewer, which are billed back to the tenants. Each pad has its own water meter which ownership reads and bills back monthly. Current ownership updated both the water and the underground electrical in 1986, lessening the likelihood of future Capital expenditures for new ownership. Each pad has a 50 amp hookup, with 15 of the 27 lots having an additional breaker allowing for short term RV rentals for increased income in the event of a vacancy.
Additional Building
  • This property also features a 20x50 concrete block building with a 1 bed/ 1 bath apartment, currently used for storage. 8 years ago, current ownership rented the apartment for $375 per month. The building has a small laundry area with two coin operated washers and one dryer. It also has a small office area that provides an ideal space for a local manager. This building offers the potential for increased income and amenities for the community. Contact Broker for additional details.
Management
  • Current ownership lives near the property and currently self manages. An estimated management fee has been added to the income and expense report for new ownership.
Local Comparable Lot Rents
  • Currently the lot rent for the community is $355/Monthly. The average lot rent in the area is $450/Monthly. Below are names and locations of local comparable parks and their monthly rates: Midwest Mobile Home Community (Independence, MO) - $589/Monthly Green Hills (Independence, MO) - $468/Monthly Hillside Crossings (Kansas City, KS) - $440/Monthly Autumn Falls 55+ (Independence, MO) - $400/Monthly La Casita (Kansas City, MO) - $370/Monthly
Zoning
  • The property is zoned as C-1 Commercial. It has been verified with the city that the park is grandfathered into this zoning district and is allowed to operate as an RV and mobile home park.
Sugar Creek, MO
  • Sugar Creek is located within the Kansas City, MO MSA. The Kansas City MSA has a population of over 2 million people, offering new ownership of this property an established investment in a growing metro.
Subject Property
  • Hamilton RV and Trailer Park is located directly next to MO HWY 24, offering tenants an easy to commute to nearby employers throughout the metro. The property is located two blocks from a Dollar Tree, a local laundromat, and multiple fast food restaurants.
FOR MORE DETAILS CONTACT
Jason Bergan
Broker
(563) 880-9679
jbergan@c21sre.com
Noah Casterton
Broker
(715) 557-0651
noah@c21sre.com
Lic: S70126000 (IA), 40835623 (MN), and 111468-94 (WI)
Drew Vlazny
Broker
(563) 880-6200
drew@c21sre.com
Lic: 71703
Jennifer Stein
Listing Broker, Broker of Record
(213) 446-5366
jstein@jdsreservices.com
Lic: MO 2021040455