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240 MIDWAY DR Salisbury, NC 28147
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Key Details
Sold Price $300,000
Property Type Commercial
Sub Type Manufactured Home Park
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 4264219
Sold Date 09/02/25
Year Built 1976
Lot Size 1.040 Acres
Acres 1.04
Property Sub-Type Manufactured Home Park
Property Description
Excellent investment opportunity to own a 100% occupied, cash-flowing 6-unit mobile home park in the growing Salisbury market. Priced at $340,000 with a 12-month NOI of $35,059, this park offers a 10.3% cap rate with strong, in-place income and upside potential.
All six mobile homes are park-owned, providing full control over rents and maintenance.
Each unit has its own septic system with a shared well, upgraded to
ensure it keeps up with demand.
Over the course of ownership, multiple capital improvements have been completed. Rents have been raised to at or near market rates, minimizing deferred maintenance and maximizing returns.
Located in a high-demand rental area, the park benefits from strong tenant retention and consistent occupancy. Seller financing available for qualified buyers – inquire for terms.
Do not miss this turn-key investment with strong cash flow and room for appreciation.
Location
State NC
County Rowan
Zoning MHP
Exterior
Street Surface Paved
Building
New Construction false
Others
Senior Community false
Restrictions Manufactured Home Allowed,N/A
Acceptable Financing Cash, Conventional, Owner Financing
Listing Terms Cash, Conventional, Owner Financing
Special Listing Condition Subject to Lease
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© 2025 Listings courtesy of Canopy MLS as distributed by MLS GRID. All Rights Reserved.
Bought with Joe McIntosh • LPT Realty, LLC
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