RV Park/Campground Details

  • Purchase Method: Cash
  • Cap Rate: 12.0%
  • Property ID: 1189777
  • Posted On: Feb 12, 2020
  • Updated On: May 16, 2020

Property Description

This RV Park is a quaint 30 space RV park situated in the heart of the city of Odessa. The park is paved throughout and uses city water and city sewer. Each space is individually metered for water and electricity. Currently the owners pay all utilities. The park is set on a 2.61 acre parcel and is located about one-quarter of a mile from Interstate 20 a major US highway that runs East-West and has a daily traffic count of over 20,000 in south central Odessa, Texas. Due to it's location and ease of access to I 20 the park stays consistently full.
This park is a clean high cash flowing asset in the heart of the Permian Basin which is the now the world's leading oil and natural gas shale producer. Exxon & Chevron have invested billions of dollars into this area to expand their operations. The park was renovated in 2016 and improvements have been made every year thereafter. The park was originally a mobile home park and could be converted back into that use if the future owners desire.
This RV Park is located approximately 15 miles from the Midland International Airport and is close to many restaurants and stores.
For an investor this is a great park to own as the park has a cap rate of 12%

Location

In the heart of the city of Odessa this park is located close to Interstate 20, next door to McKinney Park and close to many restaurants, supermarkets and shopping locations.

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Park Information

Number of RV Lots: 30
Year Built: 2016
Average RV Lot Rent: $725
Size: 2.6 acre(s)

Financial Information (Actual)

Gross Income $265,000
Operating Expense $85,000
Net Operating Income $180,000
Expense Ratio 32.1 %
Debt Info

Utility Information

Water: City
Sewer: City

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