149 Loring Commerce RdLimestone, ME 04750

Property Details for 149 Loring Commerce Rd

Year built

1960

Lot size

17.00 AC

Property type

Mobile home & RV parks

Description

This exceptional redevelopment opportunity presents a 17-unit mobile home park situated on over 17 acres in Limestone, Maine. Currently licensed for 54 sites, Loring Woods MHP offers significant potential for revenue growth. The property boasts a wooded setting with trees separating lots, enhancing privacy and aesthetics. Infrastructure includes a drilled well and private septic system, both upgraded in 2008, ensuring reliable service. The park's current occupancy consists of four occupied homes, nine homes on-site requiring renovation, and four homes slated for removal. This presents a clear path for increasing the number of rentable units and maximizing profitability. The asking price is $345,000, with a pro-forma NOI of $194,187 and a compelling pro-forma cap rate of 56.29%. The property's location in Aroostook County, Maine, at 149 Loring Commerce Rd, Limestone, ME 04750, offers accessibility and growth opportunities within the local market. The price per pad is $6,388.89, representing a strong value proposition for investors seeking a high-yield, hands-on project with substantial upside. This Class D property built in 1960 presents a unique chance to capitalize on the growing demand for mobile home living and create a thriving community.

Location Insight

City

Limestone

County

Aroostook

State

Maine

Latitude

46.9215

Longitude

-67.8699

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