Global Business Brokerage Inc. where you will experience a "World of Difference"
|
Global Business Brokerage Inc. where you will experience a "World of Difference"
|
|
|
Industry: MOBIL HOME PARKSegment: LAND 4.05 ACRES WITH 49 LOTS PLUS - MANAGER RESIDENCEGeography: TAMPA BAY AREA GREAT INCOME - COMBINATION OF GREAT BUSINESS AND LAND APPRECIATION OF 4.05 PRIME INDUSTRIAL EXPANDING IN GREAT HILLSBOROUGH LOCATION!!! Asking Price: $1,600,000SALES: $ 250,000
Established: Current Owner purchased the property 12/04 and began a renovation/upgrade to the Units. Continuing to today (January 2008), it is projected that (based on his available financial resources), that he will be completed by July, 2008, if the business property does not sell. Park Description: Located just one block off Hillsborough Avenue, in the Tampa Bay Area, this 4.05 acre parcel, currently has 48 rentable lots, complete with water and electricity and a Manager Residence and office of 2,950 Square Feet. GREAT INVESTMENT OPPORTUNITY!!! LOCATED IN GROWING INDUSTRIAL AREA OF HILLSBOROUGH COUNTY, WITH APPROXIMATELY 3 ADDITIONAL MOBIL HOME PARKS WITHIN A ONE-MILE RADIUS. TRADITIONALLY THE PARK HAS BEEN FULL. THE NEW OWNER HAS ELECTED TO UPGRADE THE UNITS AND BEGAN IN JANUARY, 2008, WITH EXPECTED COMPLETION BY THE END OF 2009. THIS HAS RESULTED IN SOME VACANCIES DUE TO THE RENOVATION. THIS PROPERTY, ALTHOUGH ZONED FOR A MOBILE HOME PARK, IS INCREASING IN VALUE YEARLY, DUE TO THE INCREASE OF BUSINESSES SUCH AS LOWE'S AND OTHER ANCHOR STORES LOCATING IN THIS GENERAL AREA. THIS AREA HAS ALSO SEEN THE ADDITION OF MANY NEW BUSINESSES, WITH BRICK/MORTAR CONSTRUCTION. IT HAS EASY ACCESS TO HILLSBOROUGH AVENUE AND IS CONVENIENT TO BOTH THE TAMPA AND CLEARWATER AREAS. THIS SHOULD BE CONSIDERED AS AN ONGOING BUSINESS, GENERATING A SUBSTANTIAL OWNER-BENEFIT, BUT WE BELIEVE MORE IMPORTANTLY, A GREAT INVESTMENT IN PROPERTY IN THIS AREA. IN FACT, MORE PEOPLE ARE LOCATING TO FLORIDA THAN EVER BEFORE, INCLUDING RETIREES, WHO POPULARIZE THESE TYPES OF MOBILE HOME PARKS AND IN FACT ARE EXCELLENT TENANTS. THE MANAGER'S RESIDENCE (COULD BE A HOME), WITH ADJACENT OFFICE, IS 2,950 SQUARE FEET. IN ADDITION, THERE IS A DESIGNATED AREA FOR LAUNDRY AND A RECREATION AREA AT THE END OF THE PROPERTY, WHICH IS LOCATED ON THE WATER. BREAKDOWN OF INCOME BY RENTAL UNITS: LOT/MOBIL HOME DESCRIPTION # OF UNITS MONTHLY RENT SQUARE FEET TOTAL MONTHLY RENT TOTAL YEARLY RENT 3 Bed/2 Bath 2 $750 884 $1,500 $18,000 2 Bed/2 Bath 10 $650 667 $6,500 $78,000 2 Bed/1 Bath 17 $600 224 $7,200 $86,400 1 Mobil RV 1 $350 $ 350 $ 350 TOTALS $15,550 $182,750 CURRENTLY UNDER RENOVATION: 2 Bed/2 Bath 11 $600 667 $6,600 $ 79,200 Vacant Lots 4 (When filled with 2 Bed/2 Bath Units @ $600 each) $2,400 $ 28,800 REVENUE POTENTIAL AT FULL CAPACITY $290,000 Projected Revenue (Based on 12/08 Operations): $250,000 PROJECTED EXPENSES YEARLY: OVERHEAD: Electric $ 4,300 Water $29,700 Garbage $ 8,700
Phone - Cell $ 1,500 Insurance (Liability) $ 2,400 Subtotal $47,900 LABOR: Manager (Owner Operated) $ -0- Labor - Temporary $ 8,000 Subtotal $ 8,000 Improvements $26,000 (One time expense for 2009 - See below) Maintenance $17,000 Appliances Repair & Replacement $ 4,000 Subtotal $47,000 OTHER EXPENSES: Bank Fees $ 500 Advertising $ 4,500 Office Supplies/Postal $ 500 Legal Fees $ 3,000 Accounting Fees $ 3,500 Background Checks/ Eviction $ 750 Misc - Other $ 7,500 Subtotal $20,250 TAXES/LICENSES/FEES: Property Tax $ 19,730 License Fees $ 18,600 Corp Filing & Tax $ 600 Fire Marshall Fee $ 25 Subtotal $20,541 PROJECTED TOTAL EXPENSES: $143,691 PROJECTED INCOME: $106,309 NOTE: AS OF 12/26/2008, THE AVERAGE MONTHLY REVENUE COLLECTED IS $18,0000 x 12 MONTHS = $216,000/YEAR The generally estimated value of the Manager's Home/Office and Mobile Homes is well in excess of $500,000. ** The current owner will not provide additional information until such time the buyer/client meets with the owner. THINKING OF MOVING TO FLORIDA??? Consider the fact that this is definitely a Buyer's Market for real estate right now and this particular area of Tampa Bay is probably one of the nicest there is, with great schools, wonderful shopping, beautiful neighborhoods, golf courses, churches, and many nice restaurants and unique shops. It has everything! AND YOU WILL LOVE TAMPA BAY. What is not to like with the wonderful weather, beaches nearby, golf, tennis, water sports, fishing, pro-sports (The Tampa Bay Buccaneers, Lightning, Yankees Winter Camp and the St. Petersburg Rays - who made it to the world series this year). Oh and did I mention you are close to Disney World for the kids and theater and the arts for Mom and Dad. Why not live your dream vacation year round? ONE LAST WORD: Worried about current economic conditions? Currently laid off? Looking for something to invest your money in that you will get a return on your investment? This is a recession proof business - people have to have some place to live. Florida is still growing at a rapid rate (many people from Michigan move here - as well as Canada and Northern States) and in Florida, mobile homes are recession proof, regardless of economic conditions and you won't be working one of those risky 9 to 5 jobs, but will be working for yourself, building an actual growing segment of the economy. Why would you want to invest your money now in stocks anyway, why not purchase a business - well under value that is already TURN KEY! Ready to walk in and start earning money! MIGHT WANT TO THINK ON THIS ONE! Reason for Sale: The Owner purchased this property in 2005 with the intention of residing in Florida with wife, family and brothers. He purchased additional businesses for his brothers. His brothers decided to relocate in Georgia, leaving this owner with two other remaining businesses which are beyond his capacity to manage. In addition, he has now decided to relocate to Georgia to be close to family. Viewing: Prospective buyer financial qualification required prior to further disclosure and showing. Disclosure: Global Business Brokerage, Inc. has on file the signature and the Sole and Exclusive Right to Sell Listing Agreement, Equipment List, Lease and Cash Flow Analysis. Information provided herein has been provided by the seller. Broker has not and will not verify the accuracy or completeness of any information. Purchasers are advised to consult with their legal and financial advisors to the extent they deem necessary. |
|
|