177 Roper RdCopperhill, TN 37317

Property Details for 177 Roper Rd

Year built

2024

Lot size

44.00 AC

Property type

Land

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 44-acre mobile home park, "Ocoee Mountain Cottages," located in Copperhill, Tennessee (zip code 37317, at 177 Roper Rd). Currently boasting 33 pads, the park offers significant value-add potential through expansion. Phase 1, encompassing approximately 26 acres, includes 18 developed lots with roads, utilities, fiber optics, water, and septic; an additional 15 lots have approved engineered drawings ready for development. The remaining 18 acres provide ample space for future expansion. Lots currently lease for $500 per month, generating a substantial annual income. The property's projected net operating income (NOI) is $158,400, resulting in a pro-forma cap rate of 8.52%. The park's current occupancy is 5%, with a projected occupancy date of September 12, 2024. The property features rent bumps, and the current lease term is five years, with 4.9 years remaining. The asking price is $1,860,000. This property is ideally situated near McCaysville, GA, Blue Ridge, GA, and Murphy, NC, offering access to outdoor recreation and amenities. The park model cottage homes are sold to tenants, with the park leasing the lots. This presents a unique opportunity for significant growth and return on investment in a desirable location. The year built is 2024.

Location Insight

City

Copperhill

County

Polk

State

Tennessee

Latitude

35.0126

Longitude

-84.4215

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