Colonial Circle MHP
20 Lot Mobile Home Park in Jamestown, TN | $21,750/Lot
Marketing description
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/204666/colonial-circle-mhp
Marcus & Millichap has been selected to exclusively market for sale the Colonial Circle Mobile Home Park, a rare value-add investment opportunity located in Jamestown, Tennessee.
The Colonial Circle MHP is a 20-lot manufactured housing community in Jamestown, Tennessee offering immediate income growth and infill upside. The property includes 15 tenant-owned homes and 5 vacant pads suitable for single-wide placement, along with a scheduled rent increase from $160 to $250 per lot coming at the beginning of June. Individually metered utilities with city water and sewer support a low-expense operating profile, positioning the asset to benefit from strong and growing demand for affordable housing in Fentress County.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Colonial Circle MHP.
Investment highlights
- 20-lot mobile home community located in Jamestown, Tennessee
- 15 tenant-owned homes are currently in place, providing stable income with limited maintenance responsibility
- 5 vacant pads offer clear infill upside with the ability to bring in single-wide mobile homes
- In‑place lot rent of $160 per pad increasing to $250 effective May 1, driving immediate NOI growth
- Individually metered utilities across all lots with city water and sewer, minimizing owner expense exposure
- Existing public utilities and infrastructure reduce upfront capital requirements for infill execution
- Simple, scalable operating model well-suited for a first-time or expanding manufactured housing investor
- Fentress County population increased nearly 9 percent from 2020 to 2024, supporting sustained demand for affordable housing amid limited new supply
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