1851 Lossie DrMarianna, FL 32448

Property Details for 1851 Lossie Dr

Year built

1998

Lot size

12.70 AC

Property size (Sq ft)

25,000 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 12.7-acre mobile home park in Marianna, Florida, presents a compelling value-add opportunity. Boasting 39 spaces (with potential for 3 more), the park currently has 28 occupied spaces, resulting in a 72% occupancy rate. Built in 1998 and renovated in 2023, the property includes 28 buildings on a single story, offering 25,000 net rentable square feet. The current rent is below $400 per space, significantly below the area average of $500-$1,000. Pro forma analysis projects annual gross rent of $201,600 at $400 per space and $226,800 at $450 per space. The property offers 84 parking spaces and is conveniently located just five minutes from Interstate 10, with nearby access to major retailers and amenities. The asking price is $2,000,000, representing a 10% cap rate and a $47,619.05 price per pad. The land value is $80 per square foot. This property is being sold by the private owner and presents a significant opportunity for increased revenue through rent increases and potential space expansion. Disclaimer: Lot size is actual; square footage and parking spaces are approximate; incomes are pro forma; actual income is available upon request after a non-disclosure agreement is signed and proof of funds is received. Information is deemed reliable but not guaranteed. Buyers should conduct their own due diligence.

Location Insight

City

Marianna

County

Jackson

State

Florida

Latitude

30.6998

Longitude

-85.1568

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