RV Park/Campground Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 17.0%
  • Listing ID: 1422605
  • Posted On: Apr 14, 2021
  • Updated On: Aug 19, 2021

Description

Northstar Commercial is pleased to offer this Iconic Southwest Michigan Motor Tourist destination known as "Paw Paw River Campground and Canoes" and the former "Ma n Pa's Country Kettle". Located along Michigan's scenic M-140, this RV Resort and Campground offers over a half-mile of riverfront camping along the Paw Paw River as well as convenient access to nearby Paw Paw Lake and the charming tourist towns of Watervliet and Coloma, less than 20 minutes from the shores of Lake Michigan and less than five minutes from nearby Four Winds Casino - Hartford. This highly profitable business has been family-run for over 30 years and the owners are looking to retire and transition the park to experienced operators.

This property features a main building including offices, a maintenance shop, and a full-service kitchen/restaurant that seats 75 comfortably totaling roughly 6,000sf. The campground also has another 2,000sf dedicated to summer and winter showers, as well as a place to wash dishes. There are two additional storage sheds, roughly 500sf each that could be converted to cabin units for rent as the owner had done with the current cabin rental.

At the height of the restaurant and campground, sales exceeded well over a million dollars, however as the owners aged, the restaurant became too time/energy-intensive. This meant they closed the restaurant and decided to focus on the park for the last seven years. The owner notes the high demand from canoe/tubers as well as park guests for a venue that served alcohol and food.

Some work will need to be done to make this kitchen operational again. Although no signs of roof leakage, the current system is aged and will need to be replaced as well as a general facade update. Zoning approvals will be needed to expand the park for additional units, however, the current owner states he is able to accommodate upwards of 120 primitive campsites on top of his 50 sites. Electric will need to be run to the remaining 16 sites. Buyer should note the revenue generated from non-camping activities as a sign of demand for this location. Priced to sell fast.

Amenities

  • Club House
  • Storage
  • Boat Access
  • Manager Office
  • Bathhouse
  • Store
  • Wifi
Interested in purchasing this RV park? Get pre-qualified for a loan.

Park Information

Number of RV Lots: 50
Year Built: 1965
Average RV Lot Rent: $400
Size: 16.5 acre(s)

Financial Information (Actual)

Gross Income: $232,000
Operating Expense: $61,750
Net Operating Income: $170,250
Expense Ratio: 26.6 %

Utility Information

Water: City
Sewer: City