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Capstone Manufactured Housing is pleased to present a 134-lot mobile home community located in Merritt Island, FL. The property consists of 134 mobile home lots with 97 of those occupied, and 72 park-owned mobile homes with 32 of those occupied. The property is comprised of three non-contiguous parcels containing a total of 31.15 acres of land. The main mobile home park is located on 27.27 acres. The two additional parcels contain 1.84 and 2.07 acres, respectively, and are located to the southwest and used for the WWTP for the subject and neighboring properties. This offering presents a great opportunity to acquire a well-performing asset in an expanding area, with an immediate value-add opportunity.

Investment Summary:

City/State: Merritt Island, FL
County: Brevard County
Acreage: 31.5
Community Type: All-Ages
Park Offering Price: TBD by Market
Total Number of Lots: 134
Number of Occupied Lots: 97
Number of Park-Owned Homes: 72
Number of Vacant Park-Owned Homes: 40
Physical Occupancy: 73.0%
Economic Occupancy: 42.0%
Lot Rent: $314

Investment Highlights:

  • Rental Upside
  • Owner Financing
  • Increased Demand in the Area

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Capstone Closes $16.9 Million Sale of 299-Unit Apartment Community in Greensboro, NC

Capstone Apartment Partners has closed the $16.9 million sale of Brannon Park: a 299-unit garden-style apartment community in the Northeast Greensboro submarket, situated within one mile of two grocery stores, several restaurants, and retail outlets. The tree-lined property sits on nearly 24 acres, with 13 three-story apartment buildings nestled around a small lake.

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