2112 Quincy StRadley, KS 66762

Property Details for 2112 Quincy St

Year built

1985

Lot size

12.60 AC

Property size (Sq ft)

1,216 SF

Property type

Mobile home & RV parks

APN

197-25-0-00-04-040.00-0

APU

1972500004040000

Description

Exceptional investment opportunity in Pittsburg, Kansas, presents a 110-site mobile home park, currently at 45% occupancy. The property boasts 110 pads, each with a building, situated on 12.6 acres of land (APN: 197-25-0-00-04-040.00-0). Currently, 50 sites are occupied, providing immediate income, while 20 vacant park-owned homes are ready for immediate lease-up, significantly increasing the property's potential. The park's current NOI is $15,166, with a pro-forma NOI of $238,144, reflecting a substantial upside. The asking price is $2,060,000, representing a price per pad of $18,727.27. The property is zoned residential and offers fee simple ownership. This lease-up opportunity presents a strong return on investment with a pro-forma cap rate of 11.56%, significantly higher than the current 0.74% cap rate. The property's location in the stable community of Pittsburg, Kansas, further enhances its investment appeal. This is a rare chance to acquire a well-positioned mobile home park with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $270,874

  6.5%

  $250,037

  7%

  $232,177

• Comparable approach

  Method

  Valuation

  Relative Method

  $134,820

  Geo Method

  $134,820

• Alternative Use

  Use

  Valuation

  Residential

  $250,037

  Hospitality

  $229,033

  Educational

  $190,552

  Medical

  $197,106

  Retail

  $296,415

Location Insight

City

Pittsburg

County

Crawford

State

Kansas

Latitude

37.3982

Longitude

-94.7396

CBSA code

38260

CBSA name

PITTSBURG, KS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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