Parktown Mobile Home Community | St. Louis, MO MSA

Investment Highlights

• 81-Site Mobile Home Park Community Located in Granite City, IL (±15 minutes from downtown St. Louis, MO)
• Substantial Value-Add Potential!  
• In-Place NOI = ±$136,000 (at just 51% occupancy)
• Stabilized NOI = ±$311,000
• Features the lowest lot rents in the area, providing safe, clean, quiet, and affordable living in Granite City, IL
• Conveniently situated only 15 minutes from downtown St. Louis, with numerous employment and retail options nearby.
• ±200,000 people live within 10-miles of the subject property with $60,000 average household incomes

 

Property Overview

Friedman Real Estate, in conjunction with RI Marketplace, is pleased to offer the exclusive marketing and sale of the Parktown Mobile Home Park,a ±81-site community located in Granite City, IL, just ±15 minutes from downtown St. Louis, MO. Currently ±51% occupied, the property has an in-place NOI of about $136,000. With the lowest lot rents in the immediate area, there is considerable potential for value enhancement, allowing a new owner to raise rents and explore additional revenue opportunities. The projected stabilized NOI is approximately $311,000 per year. Conveniently located near downtown St. Louis, the property benefits from proximity to a range of employment and retail options. The surrounding area, with approximately 200,000 residents within 10 miles, features an average household income of $60,000, making it an ideal demographic for mobile home communities.

Granite City, Illinois, is a dynamic city located just across the Mississippi River from St. Louis, Missouri, making it an integral part of the St. Louis metropolitan area. Known for its industrial roots and close-knit community, Granite City boasts a robust manufacturing sector and a variety of local amenities. Its proximity to St. Louis provides residents with convenient access to the city’s extensive cultural, economic, and recreational offerings while benefiting from a more suburban lifestyle. The easy connection to St. Louis enhances Granite City's appeal, offering a blend of small-town charm with the vibrant opportunities of a major metropolitan area.

St. Louis, Missouri, is a bustling city located on the western bank of the Mississippi River, known for its rich history, vibrant culture, and iconic landmarks. As the largest city in Missouri, St. Louis offers a diverse array of attractions, including the Gateway Arch, world-class museums, and a thriving arts scene. Its robust economy is driven by a mix of industries such as healthcare, education, and manufacturing. St. Louis serves as a major cultural and economic hub for the region, with its well-connected transportation network linking it to neighboring cities and beyond, making it a central point for both business and leisure in the Midwest.