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262 Pine Cone Park, Perham, MN 56573

$2,612,500

Virtual Tour

https://player.vimeo.com/video/885492028?badge=0&autopause=0&quality_selector=1&player_id=0&app_id=58479

Property Type: Commercial Lot Size (sq. ft.): 477,853 Status: Closed

Current Price: $2,612,500 List Date: 1/05/2024 Last Modified: 1/30/2025

Overview

Description

Seller offering $20,000 credit towards buyer's closing costs. 9.6 Cap Rate! Welcome to Pine Cone Park in Perham, MN - A 56 lot Mobile Home Community with room to expand on available adjacent lot. 12 Trailers owned by seller. Seller has installed a new cluster of mailboxes for each lot address. Each trailer is hooked up to city sewer and water. There is a lift station for the sewer. The city of Perham has an abundance of manufacturing jobs. The city is growing at a rate of 2.19% annually and its population has increased by 6.75% since the most recent census, which recorded a population of 3,495 in 2020. A new high school was built in 2019 with a state of the art wellness center. Call today for more information on this great investment opportunity!

Listing Details MLS# 6474443

General Property Information

Lot Measurement: Acres
Management Company Name: 106 Properties LLC
Multiple PIDs?: No
Other Parking Spaces: 56
Owner Occupied: No
Year Built: 1975
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: Yes
For Sale or Lease: For Sale
Acres: 10.97
Lot Dimensions: Irregular
Garage Stalls: 0

Property Features

Accessible: None CMU Style: Business Opportunity; Other Construction Status: Previously Owned Current Use: Commercial; Other; Residential Exterior: Other Financing Terms: Conventional Fuel: Electric Heating: None Loan Terms: Cash; Conventional On Site Utilities: Electric Separate Sewer: City Sewer/Connected Tenant Pays: Electricity; Heat; Hot Water; Trash Collection Topography: Level Water: City Water/Connected

Contract Information

Digitally Altered Photos: No
Off Market Date: 2024-10-30
Closed Date: 2025-01-30
Sales Close Price: 2612500
Contingency: None
ListPrice: 2750000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 262
Street Name: Pine Cone
Street Suffix: Park
Postal City: Perham
County: Otter Tail
State: MN
Zip Code: 56573

Assessments

Tax With Assessments: 4186
Assessment Balance: 0

Building Information

Building Finished SqFt: Yes

More Information

Income and Expenses

Annual Caretaker Expense: 1000
Annual Gross Expenses: 59131
Annual Gross Income: 322800
Annual Insurance Expense: 1891
Annual Maintenance Expense: 500
Annual Net Income: 263669
Annual Water/Sewer Expense: 34742
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: LCAR

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 39
Section#: 10
Township#: 136

Sale Options

Sale Includes: Land, Other

Unit Details

Total Units: 56

Office/Member Info

Association: LCAR
MLSID: RMLS

Location, Tax and Other Information

Listing City: Perham
Map Page: 999
Municipality: Perham
Rental License?: No
School District: Perham-Dent
School District Phone: 218-346-4501
Zip Plus 4: 2500
Property ID Number: 77000100004008
Tax Year: 2023
Tax Amount: 4186
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Directions: Highway 10 to CR-34 to Mobile Home park

Accessible

None: Yes

Construction Status

Previously Owned: Yes

Exterior

Other: Yes

Financing Terms

Conventional: Yes

Fuel

Electric: Yes

Heating

None: Yes

Sewer

City Sewer/Connected: Yes

Topography

Level: Yes

Water

City Water/Connected: Yes

Tenant Pays

Electricity: Yes
Heat: Yes
Hot Water: Yes
Trash Collection: Yes

On Site Utilities

Electric Separate: Yes

CMU Style

Business Opportunity: Yes
Other: Yes

Current Use

Commercial: Yes
Other: Yes
Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Listing Office: The Real Estate Company of Detroit Lakes

Last Updated: January - 30 - 2025

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.