Cornerstone & Smith Mobile Home Parks
2 Mobile Home Parks in Eastern NC | 11% CAP
Marketing description
This offering includes two value-add mobile home park investments in Eastern North Carolina. Cornerstone Mobile Home Park, located on Haws Run Road in Jacksonville, Onslow County, sits on approximately 1.68 acres and features 13 pads with 11 existing units. Zoned R-8M (Residential-8 Manufactured Housing), the property provides potential for expansion or improvements to increase income in the growing Jacksonville market.
Smiths Mobile Home Park, located off Ludie Brown Road in Chinquapin, Duplin County, consists of two tracts totaling approximately +/- 5.71 net acres with 8 pads and 7 existing homes. Served by septic systems and county water, the property is considered unzoned under Duplin County land use ordinances.
Both properties are within half a mile of a Voluntary Agricultural District. Combined, the parks generate an NOI of $126,194, offering a cap rate of 11%, and provide investors with strategic opportunities to enhance income in two North Carolina markets.
Investment highlights
- Cornerstone Mobile Home Park | 629 Haws Run Road in Jacksonville, Onslow County
- Smiths Mobile Home Park | Off Ludie Brown Road in Chinquapin, Duplin County
- Cap Rate | 11%
- NOI | $126,194
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