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RV Park/Campground Details

  • Price: $1,200,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.0%
  • Property ID: 1274055
  • Posted On: Jun 18, 2020
  • Updated On: Jun 22, 2020

Property Description

RV Resort For Sale - one of the most picturesque and best RV Park in Kentucky and best Campgrounds in Kentucky is for sale. Located in the heart of the KY Bourbon Trail with over 1M visitors annually, 100% Turn-key RV Resort and Campground operation with 58± acres of Destination Camping + Outdoor adventure. Call Ken 859-494-5521 Bluegrass Team EXP Realty – Potential Buyers MUST provide pre-qualification letter and proof of funds before viewing.

Over 4,000’ frontage on the Kentucky River with waterfalls and plenty of Outdoor Adventures and income upside. Under-Market Site Rents, underperforming with Underutilized assets.

In addition to the real estate, all the equipment needed to operate, the Cummins Ferry

Resort Campground and Marina purchase would include the website (www.cumminsferry.com/) and social media that is currently being used.

Turn-key RV Park for sale – includes:

91 RV sites

16 pull thru full service

6 pull thru no sewer

66 pull in full-service

2 pull in no sewer

41 tent sites - 28 of the tent sites have electric

All paved 2015-2019 new asphalt

Gated entrance

Stainless Steel inground swimming pool

Men’s and Women’s bath house and restrooms

General store

Guest laundromat facility

2 equipment buildings

Entertainment pavilion

Private boat launch

300 foot self-adjusting boat dock

Whole-park surveillance system with 14 cameras and 45 day recording

Firepits for each site (for the sales of firewood)

In addition to all this infrastructure and equipment, there is a perfect area – approximately 20 acres of the 58± that is RV park land for sale – with power and ready to utilize for more income. You could easily double the EBITDA with a few tweaks. Water is there, thrown in a lagoon in the woods and you can double your occupancy.

Owner/Manager’s home is a 2020 Forest River Cedar Creek cottage 40 CCK. With 3 slides. Full kitchen, 2 AC units, queen bed, full bath, 50 inch TV in living room, 32 inch TV in bedroom, Electric fireplace, surround sound, double pane tinted windows, coated no-wax exterior, 10 x 20 deck, outdoor grill and patio set – included.

Resort was fully booked through 2019 with visitors from all over the United States.

No expense was spared in building this park.

UNDER MARKET SITE RENT. Under-utilized Boat slips and a 300’ dock that is not being used at all. Think kayak rentals, Boat rentals, Sunset cruises.

Under-utilized Income potential – the Resort gives WiFi away for free to all residents.

Many potentials to increase the bottomline – talk to Ken to discuss easily increasing EBITDA significantly.

Call Ken 859-494-5521 Bluegrass Team EXP Realty – Potential Buyers MUST provide pre-qualification letter and proof of funds before viewing. Voted one of the Best Campgrounds in Kentucky. This RV Resort is for sale – 100% turn-key. Make money from day 1.

Listing agent must accompany all viewings.

P&L statements available upon request to pre-qualified investors only.

Why RV Parks & Campgrounds / RV Resorts for sale & Destination Resorts as an investment?

If you’re ready to get out of the rat race and start living life on your terms, RV parks are the place to do it.

UNDERSTANDING THE 350 MILE RADIUS RULE FOR RV PARKS

Studies have found that the average RV owner goes on a weekend trip that is roughly 4-6 hour radius from their home. This makes the population within a 300-350 mile radius an important issue to consider.

In Harrodsburg, KY? YES.

Cummins Ferry RV Resort and Campground has a secret weapon: it is within 325 miles = 6 hours from these major U.S. cities.

The Cities and their Combined Statistical Area (CSA) are:

Atlanta - 6,200,000

Birmingham - 1,151,801

Charlotte - 2,636,883

Cincinnati - 2,114,580

Columbus - 2,508,498

Chicago - 9,900,000

Detroit - 4,296,250

Indianapolis - 2,411,086

Lexington - 703,271

Louisville - 1,522,112

Kansas City - 2,428,362

Knoxville - 1,135,556

Memphis - 1,341,746

Nashville - 2,057,416

Pittsburgh - 2,635,228

St. Louis - 2,902,909

Winston-Salem - 1,689,151

This makes the population within four to six hours insanely high – over 47+ million people! 47,634,849 source: Google CSA.

You can imagine the potential that this gives this RV park, which is one of the highest occupancy RV parks in the State.

The United States is currently in the middle of three catastrophes at one time:
1) Covid-192) economic disaster brought on by the quarantine
3) Urban unrest.

But the end result is that these three events are actually pushing RV park occupancy ever higher. In fact, many Americans who did not even own RVs before the crisis began are now buying them up and hitting the highway to escape what they feel to be unsafe housing options in the cities.

In fact, some RV dealerships are showing sales 30% to 50% higher than before any of this began. That makes RV parks one of the greatest contrarian investments in a troubled America.

Benefits of Buying an RV Destination Resort - or retiring into ownership of one:

- You’ll spend your days surrounded by people who are excited to be where you are.

- You can run your business the way you want

- The choices are completely yours when you own and operate an RV park…

And the best part is that it’s all 100% building YOUR dream and YOUR future… not the future of someone else.

- RV Parks are truly a low-maintenance, easy way to grow your investment

- On average, an RV park will yield 10-20%+ on your money. In fact, they’re among the highest-yielding of all real estate assets.

- RV parks are at the center of a number of “megatrends” - big changes in America that have a huge effect on business.

- The aging of the Baby Boomers (those born between 1946 and 1964) who are retiring at the rate of 10,000 per day. On the list of many of these folks is buying an RV and traveling America…

-The rise of the Millennials (those in their 20s and 30s) who are taking to RV travel due to its simplicity and family bonding potential…

- The reduction in gasoline prices (RVs have big fuel tanks)…

- The low level of bank interest rates…

- The better designs, gas mileage and price points of modern RVs.

Can you get more positive "megatrends" than that in one sector? Doubtful.

Call Ken 859-494-5521 Bluegrass Team EXP Realty – Potential Buyers MUST provide pre-qualification letter and proof of funds before viewing.

Location

in the heart of Kentucky Bourbon Trail - that alone gets 1M visitors per year.

Amenities

  • Laundromat
  • Pool
  • Club House
  • 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: 91
Year Built: 2001
Average RV Lot Rent: $40
Size: 58.8 acre(s)

Financial Information (Actual)

Gross Income $260,000
Operating Expense $160,000
Net Operating Income $100,000
Expense Ratio 61.5 %
Debt Info N/A

Utility Information

Water: City
Sewer: Septic

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