Acquire a fully occupied 47-pad freehold land-lease mobile home community generating stable in-place income at a 4.5% cap rate, with approximately 49.46 acres of land and identified expansion potential for an estimated 70-130 additional sites, subject to approvals and servicing. 26 Salmon Side Road presents a rare opportunity to acquire an established community combining immediate cash flow with substantial long-term growth potential. The property consists of 47 occupied land-lease sites, a manager's residence, and approximately 35 acres of excess land beyond the existing developed portion of the community. Preliminary review has identified approximately 21 acres of practical expansion area capable of supporting an estimated 70-130 additional sites, with approximately 70 sites representing the low-end practical scenario. Based on current operating performance and estimated expansion costs, investors may have a pathway toward a stabilized yield on cost in the range of approximately 7.5%-8.5%+ following future expansion. Opportunities to acquire stabilized mobile home communities with meaningful excess land are increasingly scarce throughout Ontario, making this a compelling opportunity for operators, investors, and affordable housing groups seeking both current income and future value creation. ADDITIONAL DETAILS FOUND IN "MORE INFORMATION" LINK BELOW. (id:4069)
Address
26 SALMON SIDE ROAD
List Price
$3,150,000
Property Type
Vacant Land
Transaction Type
Sale
Area
Ontario
Sub-Area
Rideau Lakes
Floor Area
49 Sq. Ft.
Lot Size
49.4 Sq. Ft.
Lot Depth
1768 ft
Frontage Length
1013 ft
MLS® Number
X13070042
Listing Brokerage
RE/MAX HALLMARK REALTY GROUP
Postal Code
K7A4S5
Zoning
RMH & RU5
Sewer
Septic System
