Colliers International South Florida has brokered the sale of a mobile home property at Palm Lakes Trailer Park on behalf of buyer Steve Schneider. The $6.25 million acquisition encompasses 7 acres with 120 pads at 7600 NW 27th Avenue. The property rests within the recently-enacted NCUAD zoning overlay which permits high density residential and mixed use development and is within close proximity to the Northside Metro Rail Station. The deal highlights how strong investment interest in Miami is moving inland, following a surge in population and job growth that extends statewide.
“Large tracts of developable land with stable income in place are hard to come by,” said Colliers Senior Broker Associate Michael Lewin, who represented the buyer along with collegue Kevin Morris. “Based on the strong cash flow and attractive cap rate compared to other, more conventional assets, this property was the perfect fit for our client who was looking to fulfill a 1031 exchange requirement.”
