RV Park/Campground Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.3% (Pro Forma)
- Listing ID: 830186
- Posted On: Jul 7, 2017
- Updated On: Jul 12, 2019
Description
RV Park/Marina/ Hotel Inn Resort, located in the Southeastern US. Value-Add with multiple future development plans, makes this a unique opportunity to purchase a stabilized cash flowing asset while creating future value. All RV Sites and Boat slips are paid 12 months up front. The Marina Boat slips is 100% occupied with new dock permit for 17 new docks . There is also a new five year lease with the most reputable and largest boat rental company in the region. The RV Park is 97% occupied with the 4 of the vacant sites being held back by owner to hopefully sell Park Models on. However, there is a waiting list for RVs so these will be leased one way or another by summer 2018 and will be 100% occupied.
Amenities
- Laundromat
- Boat Access
- Manager Office
- Bathhouse
- Wifi
Park Information
| Number of RV Lots: | 240 |
| Year Built: | 2011 |
| Average RV Lot Rent: | $3,487 |
| Size: | 25.0 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $1,408,761 |
| Operating Expense: | $663,898 |
| Net Operating Income: | $740,863 |
| Expense Ratio: | 47.1 % |
| Debt Info: | None |
Utility Information
| Water: | City |
| Sewer: | City |