734 Pulaski HwyBear, DE 19701

Property Details for 734 Pulaski Hwy

Year built

1960

Construction

CONCRETE

Lot size

7.60 AC

Property size (Sq ft)

4,836 SF

Zone code

NCMM

Property type

Retail properties

Property subtype

Retail space

APN

10-034.00-020

APU

1003400020

Description

This exceptional investment opportunity presents a 45-unit mobile home park situated on a spacious 5.77-acre lot at 734 Pulaski Highway in Bear, Delaware. Conveniently located off Route 40, this income-generating property boasts a remarkable 96% occupancy rate, with 96% of units resident-owned. The park's strong performance offers significant potential for increased revenue through several avenues. Two developed vacant sites are ready for immediate development, adding to the existing unit count and rental income. Furthermore, the undeveloped area at the rear of the property allows for the potential addition of two more sites, further expanding the park's capacity. Adding to the property's income stream is a single-family home currently rented on the premises. A significant advantage lies in the opportunity to transfer water and sewer costs to tenants, optimizing operational efficiency and profitability. This well-established mobile home park presents a compelling investment opportunity for those seeking a stable, high-yield asset with considerable upside potential for growth and enhanced profitability. The property is priced at $3,100,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,038,153

  6.5%

  $2,804,449

  7%

  $2,604,132

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,584,482

  Geo Method

  $1,592,317

• Alternative Use

  Use

  Valuation

  Residential

  $2,365,658

  Hospitality

  $2,166,930

  Educational

  $1,802,860

  Medical

  $1,864,863

  Retail

  $2,804,449

Location Insight

City

Bear

County

New Castle

State

Delaware

Latitude

39.6434

Longitude

-75.6381

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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