Property
Type, style and structure
- Type
- land
- Style
- vacant land / Vacant Land
+13 more
49.4 ac
Lot
Property Snapshot
Key details for this listing
MLS #X13070042
Lot
Land, frontage and setting
- Lot
- 49.4 ac - 49.4
- Frontage
- 1013.0 feet
Costs
Price, taxes and monthly charges
- List Price
- $3,150,000
About This Property
This vacant land in Rideau Lakes offers a 49.4 ac lot. The property has lot dimensions of 49.4.
MLS Remarks
Acquire a fully occupied 47-pad freehold land-lease mobile home community generating stable in-place income at a 4.5% cap rate, with approximately 49.46 acres of land and identified expansion potential for an estimated 70-130 additional sites, subject to approvals and servicing. 26 Salmon Side Road presents a rare opportunity to acquire an established community combining immediate cash flow with substantial long-term growth potential. The property consists of 47 occupied land-lease sites, a manager's residence, and approximately 35 acres of excess land beyond the existing developed portion of the community. Preliminary review has identified approximately 21 acres of practical expansion area capable of supporting an estimated 70-130 additional sites, with approximately 70 sites representing the low-end practical scenario. Based on current operating performance and estimated expansion costs, investors may have a pathway toward a stabilized yield on cost in the range of approximately 7.5%-8.5%+ following future expansion. Opportunities to acquire stabilized mobile home communities with meaningful excess land are increasingly scarce throughout Ontario, making this a compelling opportunity for operators, investors, and affordable housing groups seeking both current income and future value creation. ADDITIONAL DETAILS FOUND IN "MORE INFORMATION" LINK BELOW. (id:60351)
Documents & Attachments
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