ABIMultifamily.com/portfolio/Punkin-Center-RV-CorralFor more information please visit:PUNKIN CENTER RV CORRALPUNKIN CENTER RV CORRAL

200 SOUTH OLD H IGHWAY 188, TONTO BAS IN, AZ 85553200 SOUTH OLD H IGHWAY 188, TONTO BAS IN, AZ 85553

Offering Price: $975,000 43-Space Mixed-Use Park in Tonto Basin, AZ

ABIMultifamily.com Phoenix Headquarters: 4715 N. 32nd Street, Suite 105, Phoenix, AZ 85018 Tel: 602.714.1400

PROPERTY OVERVIEW

Price $975,000

Per Space $22,674

Pro Forma CAP 9.45%

Spaces 43

Mixed-Use Park with 43 Total Spaces (22 Manufactured Houses & 21 RV Spaces)

Includes Existing Family Restaurant, Commercial Space, Outdoor Storage for Boats & Off-

Road Vehicles

Value-Add Opportunity for Potential Park Expansion

Additional Spaces Allowed Per Gila County Zoning

Potential Enhanced Boat & Off-Road Vehicle Storage

Park Amenities Include Picnic / Ramada Areas, B-B-Qs, Grass Park, On- Site VFW Post

Great Recreational Location - Roosevelt Lake, National Parks, Off-Road Riding & Exploring

Close Proximity to Larger Communities (Payson - 30 Miles, Globe - 50 Miles &

Phoenix - 88 Miles)

All information provided in reference to the property has been collected from sources deemed reliable. However, no representations or warranties are made as to the accuracy ofsaid information. In addition, no warranty or representation is extended to errors, omissions, change of price or other conditions. Any projections, estimates, opinions, financial orother assumptions are provided for example purposes and do not represent current or future performance of the property. Please consult with your legal, financial and taxprofessionals to make any determinations regarding whether the property is suitable for your needs and purposes.

OFFERING PRICE: $975,000

TOTAL SPACES: 43 EXISTING

POTENTIAL FOR EXPANSION

Punkin Center is located approximately 29 miles south of Payson, Arizona, andonly 15 minutes from Roosevelt Lake. Punkin Center RV Corral offers bothmanufactured home sites as well as RV sites. The park currently offers 43 spaces(22 manufactured houses and 21 RV spaces) with the opportunity to expandand offer additional spaces per Gila County zoning. Punkin Center RV Corralserves recreational enthusiasts as well as retirees. The park can accommodate30 or 50 amp service and 200 amp service to newer manufactured homes andpark models. Punkin Center RV Corral is well located with superior streetfrontage on Highway 188 and Old Highway 188. It is steps away from the TontoElementary School, library, post office, Fire / EMT station, and restaurants.On-site amenities include a family-style restaurant, picnic area, grass park, andshaded ramadas. The property also offers laundry facilities, VFW Post, and boat/ RV / ATV storage.

There is a 5,000-square-foot commercial building that is adjacent to the PunkinCenter RV Corral and is included in the offering. The M&M Reno Creek Café, atenant, is open 7 days a week offering breakfast, lunch and dinner. (website:http://renocreekcafe.com). Reno Creek Café has a five-year lease with annualrent increases built into the lease terms. The restaurant equipment is owned bythe landlord (documented equipment list). Past tenants have beenchiropractors, beauty salons, and other service-oriented operators. Medical,hardware, personal care, and convenience products would make good newtenants. A new roof was put on the building approximately three years ago, witha new HVAC system installed in the past 12 months.

PUNKIN CENTER RV CORRAL200 SOUTH OLD HIGHWAY 188, TONTO BASIN, AZ

PRIMARY LISTING BRAD PICKERINGCONTACT: Senior Vice President

602.635.7456brad.pickering@abimultifamily.com

John Kobierowski Alon Shnitzer Rue Bax Doug Lazovick Eddie Chang

Chuck LaBenz Brad Pickering Nathan Bruer Patrick Burch John Klocek Royce Munroe Ryan Smith

ABI MULTIFAMILY PHOENIX:

For more information please visit:ABIMultifamily.com/portfolio/Punkin-Center-RV-Corral

PUNKIN CENTER RV CORRAL

MARKET PRO FORMAUnits % Total Rent Monthly Rent Annual RentUnit Type

Manufactured Home 22 18.2% $210 $4,620 $55,440

RV (Permanent) 15 12.4% $210 $37,800

RV (Seasonal) 6 5.0% $210 $10,080

Commercial (A) 1 0.8% $385 $4,620

Commercial (B) 1 0.8% $385 $4,620

Commercial (C) 1 0.8% $850 $10,200

Commercial (D) 1 0.8% $500 $6,000

Laundromat 1 0.8% $125 $1,500

Storage 3 2.5% $25 $900

Boat Storage (VA) 70 57.9% $25 $21,000

Totals/Avg 121 100% $108

$3,150

$1,260

$385

$385

$850

$500

$125

$75

$1,750

$13,100 $152,160

Total Per Unit$152,160 $3,539

$152,160 $3,539

11.0% ($16,738) ($389)

$135,422 $3,149

$26,236 $610

$161,659 $3,760

Income Scheduled Gross Income

Gross Potential Rent

Less: Vacancy / Bad Debt / Concessions

Net Rental Revenue

Other Income

Effective Gross Income

Expenses

$6,000 $140

$9,675 $225

$1,720 $40

$8,600 $200

$11,825 $275

$19,797 $460

$4,300 $100

Payroll

Administrative

Marketing

Contract Services

Repairs & Maintenance

Utilities

Insurance

Real Estate Taxes $7,646 $178

$69,563 $1,618

43.03%

Total Operating Expenses

Expense Ratio / Per SF

Net Operating Income $92,096 $2,142

INCOME & EXPENSES