The NMHC Group of KW Commercial is pleased to present North Meadows Manufactured Housing Community, a well-maintained, institutional-quality property offering strong investment potential. This established community consists of 200 tenant-owned home sites, with the opportunity to bring an additional three sites online, increasing the total to 203 sites. Included in the sale is an adjacent 44.17-acre parcel, which has been fully entitled and is shovel-ready for the development of an additional 106 sites. The seller would like to offer option of seller financing to potential buyers. North Meadows offers attractive amenities, including a basketball court, soccer field, and swimming pool, enhancing the community’s appeal. The property is serviced by municipal water and sewer, which are directly billed to tenants. With current rental rates well below market, there is significant upside potential for a new operator. Additionally, the property is located within a High Growth Opportunity Zone, offering potential tax advantages to an investor. Located in Randleman, North Carolina, within Randolph County, this community is ideally positioned just 25 minutes from Greensboro and 25 miles from Piedmont Triad International Airport. Randolph County sits within the Piedmont Triad MSA, known as “The Triad”. The Triad is home to over 1.7 million residents and the areas primary economic drivers are manufacturing, High Point being the Furniture Capital of the World, distribution, logistics, biotechnology, and aviation. Over the past decade, the Triad region has experienced substantial population growth. In 2010, the population was approximately 1,640,717. By 2021, it had increased to 1,753,827, reflecting a growth rate of 6.9% in 11 years. In Greensboro, the region’s largest city, the population grew from 313,000 in 2010 to approximately 372,000 in 2023, reflecting an 18.8% increase in 13 years. Randolph County is home to many unique sites that draw people to the area. The North Carolina Zoo, the nation’s largest public zoo and one of the largest natural habitats in the world, is only 15 miles from the property. The Richard Petty Museum, honoring the NASCAR driver regarded as one of the greatest of all time, attracts visitors to the area and is a short 15-minute drive from the property. A few other areas nearby are Seagrove NC, known as the “Pottery Capital of the U.S.” and High Point, where they host the largest home furnishing trade show in the world at the High Point Furniture Market. Further driving economic expansion, Toyota Motor Corporation has invested $14 billion in a state-of-the-art 7-million-square-foot battery manufacturing facility in nearby Liberty, NC—just 25 minutes from the property. Set to begin operations in April 2025, this facility is expected to create approximately 5,000 new jobs, further stimulating the local economy. Announced in May 2024, Ross Stores Inc. is building a significant 1.7 million square foot distribution center in Randleman, representing a $450 million investment expected to create 850+ jobs in the area. 30 minutes north of the property, Amazon also recently expanded their footprint in the area with the purchase of 85 acres off Ritters Lake Road in Pleasant Garden. While the exact plans have not been set yet, local speculation is that they may build a large-scale fulfillment center. Only 30 minutes east of the property, in Chatham County, sits the Chatham-Siler City Advanced Manufacturing Site. The 1,800-acre, shovel-ready mega site has attracted major investments, including a $5 billion semiconductor manufacturing facility expected to create 1,800 jobs by 2030. As always, this is a confidential sale. Please do not go to the community without setting up a showing appointment with the listing agents. If on site, do not under any circumstances speak with any tenants or employees. Please contact us for additional information.
