18 Pad Mobile Home Park 102 NE Clark Dr 18 Unit Mobile Home Park $802,654 CAD ($44,592 CAD/Unit) 11.42% Cap Rate Verndale, MN 56481

Verndale MHP is an 18-pad mobile home community situated on 8.85 acres in Verndale, MN. The park is believed to have been developed in the early 1970s and has served the community by providing an affordable housing option since that time. The property is zoned for mobile home park use and is not located in a flood zone. The park is currently managed by a third-party professional management firm responsible for rent collection. An on-site manager/maintenance person receives a $100 monthly rent credit.
The park is comprised of two separate parcels, each approximately 4.5 acres. There are currently no trailers that need to be removed from the premises. Of the 14 occupied pads, all of the homes are tenant-owned (TOH), with rents currently averaging $450 per month. There are also two vacant park-owned homes (POH) that are in the process of being renovated. One abandoned TOH needs to be removed from the park. The last rent increase occurred in February 2025. The park operates on month-to-month lease agreements.
Public Water & Sewer! Verndale MHP is serviced by city water and city sewer. The underground pipe material is believed to be a combination of PVC and metal. Residents are direct billed for electricity and gas by the respective utility providers. Water and sewer are currently paid by the tenants through a RUBS (Ratio Utility Billing System) program. Garbage service is included in the lot and home rent. The road through the park is owned and maintained by the park. tenants are responsible for mowing their individual pads, while the park maintains the common areas. Snow removal is handled by the park as needed.
Recent Improvements:
Since acquiring the property, the current owners have made several improvements to the park, including repairing all potholes, addressing numerous plumbing issues (including the water line from the main at Lot 3), and renovating a park-owned home (POH) to make it rent-ready.
Potential Future Improvements:
When asked what additional improvements they would consider if they retained ownership, the owners mentioned adding picnic tables and BBQ areas to enhance tenant amenities.
MR. LANDMAN, LLC is a licensed entity in the State of Minnesota under Lic#40783936. Jonathan Fisher is a licensed broker in the State of Minnesota under Lic#40783935.
Location

Verndale is a small rural community located in Wadena County,
Minnesota. Verndale is easily accessible via U.S. Highway 10, a
main east-west corridor across Minnesota. The population is approximately 600–650 residents, making it a tight-knit, small-town community.
Economy:
The economy of Verndale and the surrounding Wadena County area is driven primarily by:
•Agriculture (crop farming, dairy, livestock)
•Small businesses and trades
•Some manufacturing and light industrial employers in nearby Wadena
Many residents also commute to nearby towns like Wadena, Staples, or Brainerd for work.
The median home cost in Verndale is $200,200. Home appreciation the last ten years has been 87.2%. Home Appreciation in Verndale is up 20.4%.
Renters make up 19.2% of the Verndale population.
The average 1-bedroom rents for $700/month.
The average 2-bedroom rents for $810/month.
The average 3-bedroom rents for $990/month.
The average 4-bedroom rents for $1090/month.
Verndale has an unemployment rate of 3.8%. The US average is 4.2%.
The Median household income of a Verndale resident is $37,750 a year. The US average is $69,021 a year.
Verndale violent crime is 9.2. (The US average is 22.7)
Verndale property crime is 20.6. (The US average is 35.4)
Wadena is a county in the U.S. state of Minnesota. As of the 2020 census, the population was 14,065. Its county seat is Wadena.
Here are the largest employers in Wadena County, MN:
•Walmart
•Tri-County Health Care / Hospital
•Fair Oaks Farms
•Russ Davis Wholesale
•Homecrest Outdoor Living
•McDonald’s, Pizza Ranch
•Manufacturing (county-wide)
•Health Care & Social Assistance
•Retail Trade