Selling Mobile Home Park

[Jessop Adams]

My family inherited a mobile home park in a small Nebraska town along Interstate 80 that we are interested in selling. I am looking for tips on listing it for sale and the best avenues to market it.

The park is on two city blocks and has 4 mobile homes in ok condition, but all are vacant. There are two other MHs that we are getting taken to the landfill due to being in poor condition. There are hookup spots for a total of 9 mobiles in the park but there is space for more mobiles if someone wanted to expand the park. Water is not metered separately but electric is.

The difficulty is there are no other parks in this town to compare it to and it was not managed in a way where I feel like I can rely on its historical financial performance. The parks in the nearest town charge around $200/mo for lot rent and up to $750/mo for nicer mobiles. We have cleaned up the park and remaining mobiles and would expect the remaining MHs could be rented for up to $500-600/mo and lot rent to be around $150/mo with water included.

We are obviously considering consulting with a local realtor but any tips and advice would be welcome so we can be prepared for those conversations.