120 Sandy Springs Ln - Hidden Oaks & Southern Pines Mobile Home Park - Lexington, SC 29073 - MAKE OFFERS PRICE DROP

Description:

Gross Receipts $35,000+, $23,776.00 NOI for July/August 2024. Estimated $285,312 NOI, equating to $23,776+ per month after a rent push. 7.00% Cap Rate. NOI has been as high as $32,000 per month, but taking into consideration some Capex, we estimate it to be low. Rent Comps in the area will allow going much higher = $1,049 rent. Any figures can fluctuate over time. **NEWLY INSTITUTED LEASES AT $1,000 NOW THUS VALUE ADD REACHING THAT** Columbia, SC MSA / Lexington County / 38 Mobile Home Units In a Two-Park Adjacent Portfolio. Within a two-mile radius of a Walmart Super Center and Lowe's Home Improvement Center. Walgreens, Dollar General, Starbucks, Publix, Food Lion, High School, and Middle School are also within several miles. Lexington is a rapid expansion zone for the Columbia MSA for rooftops, commercial, and industry. Correspondingly, this combination of assets will maintain occupancy and vibrancy in the long term based on the pattern analysis of past performance and future projections. Video Tour https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W ALL ASPECTS OF PROPERTY AND SALE ARE SOLELY BUYER DUE DILIGENCE AND BROKER DOES NOT GUARANTEE ASPECTS THUS SOLELY BUYER DUE DILIGENCE.

***Owner may consider owner financing w/ at least $2M down & Highest and Best Terms 1) with proof of funds to do the complete deal 2) Half-Down and Personal Guarantee on the balance 3) Acceleration if default no foreclosure 4) 20-year amortization with a three-year balloon at a to-be-determined interest rate 5) Owner is in his upper 70’s and wants to 1031 out sooner rather than later.


Centroid Coordinates 33.911119, -81.202533 TMS#'s 006698-01-074, 006698-01-167 Approximate Acreage 9.65 Lexington County, South Carolina



Lexington is now considered an exploding area in the Columbia MSA and serves as an extension of the SC State Capital, Columbia. 
This property is strategically located within a two-mile radius of a Walmart Super Center and Lowe's Home Improvement Center. Other major retail outlets such as Walgreens, Dollar General, Starbucks, Publix, and Food Lion are also within easy reach. In addition, the property is close to a High School and Middle School, making it an ideal location for families.
Columbia, SC MSA / Lexington County / 38 Mobile Home Units In a Two-Park Adjacent Portfolio
Estimated $285,312 NOI equating to $23,776+ per month after a rent push. 7.00% Cap Rate. NOI has been as high as $27,776 per month, but taking into consideration some Capex, we estimate it to be low. Rent Comps in the area will allow going much higher. NEW LEASES AT $1,000 PER MONTH IN EXISTENCE AT RENEWAL.
Video Tour https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W
ESSENTIAL CREOP FLIPBOOK: https://online.fliphtml5.com/aqzn/rqor/#p=1
What is more important than any one deal? Remember that in this industry, connections and relationships count. Connect with me at linkedin.com/in/gilbradhamjr29487, and along with my other managing partners, Lorne Ottinger, Kyle Ferguson, and Greg Myers, we will create synergistic and profitable relationships beyond this one asset. Let's think outside the box.

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