Remarks

High-Yield Investment Property outside of city limits but adjacent to water, public water, and sewer– Fully Leased with Immediate Cash Flow!
This prime mixed-use property is a turnkey investment generating $12,000/month in gross rental income ($144,000/year) across multiple income-producing assets:
Breakdown of Rental Income:
Commercial Spaces:
Unit 1 (Tire Shop): $1,500/mo
Unit 2 (Barber Shop): $1,500/mo
Unit 3 (Barber Shop): $2,200/mo
Unit 4 (Grocery Store): $1,800/mo
Residential Units – 7 Mobile Homes:
Trailer 1: $1,400/mo
Trailer 2: $1,000/mo
Trailer 3: $650/mo
Trailer 4: Not paying rent
Trailer 5: (Lot Rent Only): $550/mo
Trailer 6: $600/mo
Trailer 7: $800/mo
Stable Tenants + Expansion Potential = Strong ROI
Net Operating Income (NOI): $134,000/year (after estimated $10,000 annual expenses.
Estimated Cap Rate: 15%+ (based on list price – excellent return in today’s market!)
Low Overhead: Minimal owner expenses with separate electric meters and long-term tenants.
Value-Add Opportunity:
✔ Seller is offering a $75,000 credit for reinvestment, closing costs or prepaid expenses if purchased before planned pole buildings are added—creating even more rental income!
✔ Trailer 7 is not generating income, but it will be an instant income boost once it does!
Why This Property?
It is fully leased with a strong rental history
Diversified income streams (commercial + residential)
Minimal owner responsibilities
Planned improvements for increased revenue
High cash-on-cash return potential
Perfect for investors seeking a high-yield, low-maintenance portfolio addition! Schedule a showing today!

Details

MLS#: DESU2080504
Price: $875,000

Year Built: 1950

County: SUSSEX
Subdivision: Island Development