Adams Mobile Home Park with Expansion Opportunity
Milledgeville, GA 31061
Executive Summary
- Address 322 Colony Farm Road SW Milledgeville, GA 31061
- Expansion Potential Expand to 60 pads with local zoning
- Acres 30
- Pads/Trailers 35 pads / 34 Trailers
- Park Owned Homes 27
- Tenant Owned Homes 6
- Rent to Own 1
- Vacant Pad 1
- All Utilities Separately Metered
- Trash Bill back implemented
- Current Market Rent annualized 322,500
- Section 8 Income upside 352,560
- Appraisal for Land Alone $1,090,000
Summary
Adams Mobile Home Park offers investors the opportunity to acquire a value-add manufactured housing community located in Milledgeville, Georgia. The property consists of 35 pads and 34 homes situated across just under 30 acres, with preliminary support from Baldwin County Planning & Zoning indicating the potential to expand the property by approximately 25 additional pads, subject to buyer verification and approvals. The site contains multiple areas that may support future development or operational improvements over time.
Current ownership has significantly improved the property through active management and operational enhancements while still maintaining meaningful upside through continued rent growth and stabilization. Current in-place rents remain below projected market levels, creating the opportunity for future revenue growth while continuing to provide affordable workforce housing within the market.
Milledgeville, GA, with a metro population of approximately 50,000 people, continues to benefit from ongoing economic development and workforce investment throughout the region. Recent growth initiatives include expanded operations by Fouts Brothers, development of a large Hilton hotel and convention center project downtown, and a $6.5 million state investment into Central Georgia Technical College (CGTC) supporting EV technology, advanced manufacturing, and mechatronics workforce programs. In addition, the Milledgeville-Baldwin County Development Authority continues to support local business expansion, industrial park development, job creation efforts, and broader strategic planning initiatives focused on strengthening the local business environment through 2027. The property has experienced strong leasing demand, evidenced by growing waitlists for available units within the community. Additionally, the asset benefits from its location between several larger regional population centers including Augusta, GA (630,000 metro population), Macon, GA (233,000 metro population), and Atlanta, GA (6,400,000 metro population). As of December 2024, unemployment within the Valdosta, GA MSA was reported at 3.9%, below the national average of 4.4%, further supporting long-term workforce housing demand fundamentals throughout the broader region.
