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RV Park/Campground Details

  • Price: $750,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.7%
  • Listing ID: 6519575
  • Posted On: Jul 8, 2024
  • Updated On: Jul 12, 2024

Description

RV Park for sale on +/- 5 Acres in Franklin County, Texas. The Park is located close to I-30, a major east-west route through Texas. It is also convenient to the Tri-Lakes area, just minutes away from Lake Cypress Springs, Lake Bob Sandlin, and Lake Monticello. There are abundant opportunities for outdoor recreation including boating, fishing, hunting, camping, and more! The park is very well situated to take advantage of both visitors and more permanent residents looking for a slower pace of life and access to the outdoors.

The park was started in 2020 and began with just two spaces. It has rapidly grown over the next several years, and now has 21 full hook ups and a large (2,100 SF) 5 bed 3 bath home on the property. The home is currently occupied by the owners, but could be rented for additional revenue or used as a park office. The home is valued at over $200k on the tax roll. There are a number of long term tenants (currently 14) and there are also a number of construction related tenants who are there for the solar facility nearby. There are no long term leases in place so a new owner would be free to raise rents if desired. The overnight traffic is regular but not significant. This could be increased with advertising, but the current owners do not do any at this point. The park averages 80-85% occupancy on a regular basis. There is also a small laundry facility on the property which brings in some additional revenue.

The Park is serviced by municipal water and electric, and there are septic systems for the sewer. There are several individually metered spaces for the electric, but the owners have not chosen to use them as yet. The owners provide the maintenance of the grounds and trash service is provided by a local company.

The Park can be bought including the house or divided. The division would include 17 sites, the laundry, and two campers that are park owned and rent for $650.00 and $750.00 per month. The house and 4 sites would be retained by the current owners. The owners are flexible if a buyer would prefer that option. This investment is perfect for investors looking for a solid return on investment in a growing market with upside potential.

Location

Close to Interstate 30 and near the city of Mt. Vernon, TX.

Amenities

  • Laundromat
  • Manager Office
  • Wifi
Interested in purchasing this RV park? Get pre-qualified for a loan.

Park Information

Number of RV Lots: 21
Year Built: 2020
Average RV Lot Rent: $507
Size: 5.8 acre(s)

Financial Information (Pro Forma)

Gross Income: $143,340
Operating Expense: $55,358
Net Operating Income: $87,981
Expense Ratio: 38.6 %

Utility Information

Water: City
Sewer: Septic

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