I have a concern with loaning the money from the bank because I have experienced banks not wanting to loan on mobile homes and Parks.

Ingress/egress is considered, other tenant mix to draw foot traffic, exclusive use clauses, pylon signage, visibility, parking ratios, etc all matter. 

How much concrete, asphalt or rock parking is around the facility? 

@Sean HudginsWhat's your opinion of the Park Place and Kensington area of Norfolk just above Ghent?

lower the size of your unit and therefore your build cost per unit, your sale price will go down but focus on density and get familiar with zoning and what your city will approve. my best suggestion is to do it in downtown districts where there is unlimited height and unlimited floor area and you can build every square inch of the property and reduce parking because of proximity to transit. property values are higher, rents are higher in downtown markets, there are just too many economies of scale compared to suburban deals.

Hello, although I do not have experience in converting Industrial to Residential Units, I would say, understand what the Building Dept. requires to make this feasible, for example, some jurisdictions require that each unit have one covered parking space (carport/garage etc.).

Thats what I did with some land I had in Rohnert park that we had a massive gain on based on path of progress in CA.. bought for 30k in 97 and sold for little over 2 mil in 2019 .. this allow my two other partners and me to 1031 which we needed to do since we had basically a zero basis.

When you need to repave the parking lot, that is on the tenants.  

Single Family Home in the Scott Park neighborhood of Toledo, OH.

Only minor thing I would clarify is that your listing says there is off street parking but it is not apparent from the photos, nor mentioned in the description.