Contact Information

RV Park/Campground Details

  • Price: $1,200,000
  • Purchase Method: Cash
  • Cap Rate: 12.9%
  • Property ID: 1239759
  • Posted On: Apr 8, 2020
  • Updated On: Jul 6, 2020

Property Description

Castle Oaks RV Park is a 56-site RV park located in Wallisville, Texas. The property is approximately 40 miles east of Houston, Texas. The gated community's 56 sites are all back-in sites that offer 30 and 50 amp hook-ups. Daily rates of $40 and weekly rates of $175 plus electric are offered.

Castle Oaks RV Park operates on city water and sewer. The park is currently sub-metered for electricity and the owner reads the meters at the end of each month. All roads and pads in the park are concrete. The current manager/maintenance worker is open to staying on-board with future ownership.

Castle Oaks RV draws workers from the Baytown, TX area. Major employers in the area are Exxon Mobil, JSW Steel, and Chevron Phillips. Exxon Mobil has announced a $2 billion project to expand their Baytown chemical plant, adding 2,000 construction jobs in 2022.

Castle Oaks RV park is priced at $21,428 a space, offering a day one CAP rate of 12.9 on 2019 actuals.

Location

Castle Oaks RV Park is in a  very unique location for sportsmen and nature lovers. The Army Corps of Engineers Wallisville Lake Project and Anahuac National Wildlife Refuge are both just a few miles from the property.  It includes bird & wildlife watching, board walks, fishing and hunting. There are boat ramps at the Corps Project and Fort Anahuac Park that leads to Trinity Bay & Galveston Bay. There's waterfowl hunting at Wallisville Project and Anahuac National Wildlife Refuge with lots of waterfowl every season. Castle Oaks RV is 35 minutes away from High Island, one of Texas’ top hot spots for migratory bird watching and Bolivar Peninsula with its many beautiful beaches.Castle Oaks RV Park is 30 minutes away from downtown Houston which offers entertainment and recreation such as the theatre district, major professional sports venues, Discovery Green Park and George R. Brown Convention Center. NASA Johnson Space Center is a 40-minute drive and Galveston Island is just a little over an hour drive with all it has to offer.

Amenities

  • Laundromat
  • Manager Office
  • Wifi
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Park Information

Number of RV Lots: 56
Year Built: 2014
Average RV Lot Rent: $300
Size: 3.0 acre(s)

Financial Information (Actual)

Gross Income $271,122
Operating Expense $116,147
Net Operating Income $154,974
Expense Ratio 42.8 %
Debt Info

Utility Information

Water: City
Sewer: City

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