71 Will Evans RdBrownsville, TN 38012

Property Details for 71 Will Evans Rd

Year built

2023

Property type

Mobile home & RV parks

Property subtype

Self storage facilities

Description

This exceptional investment opportunity presents a fully stabilized, Class B RV park and storage facility in Brownsville, Tennessee. The property, built and renovated in 2023, boasts 78 RV pads and 42 storage units across two locations, achieving 100% occupancy as of June 30, 2024. The 228,000 square foot park generates a substantial Net Operating Income (NOI) of $564,000, resulting in a compelling 10.27% capitalization rate. The property sits on a 2,925 square foot lot and includes two buildings, one of which is a 2,000 square foot common area facility featuring amenities such as restrooms, laundry facilities, a conference room, and a lounge area. All utilities are included in the lot rent, except for internet, which is available via hardwired fiber. Strategically located near Ford's $5.6 billion Blue Oval City development, this property benefits from the unprecedented growth and increased demand for housing in the area, projected to add 30,000 jobs by 2027. The park's prime location and strong occupancy rates, coupled with limited competition and new municipal codes, offer investors a secure and high-return investment with significant future potential. The asking price is $5,490,000. The property is zoned for commercial use.

Location Insight

City

Brownsville

County

Haywood

State

Tennessee

Latitude

35.6524

Longitude

-89.3332

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