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Address is 8325 County Road 409 Grandview, TX 76050

Robert Denninger

Marcus & Millichap

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$100,000 REDUCTION: Eagle Ridge RV Park

RV Park/Campground for Sale in Grandview, Texas - Price Reduced!

8325 County Road 409
Grandview, TX 76050

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Sale Price: $1,325,000

Contact Information

Robert Denninger
Marcus & Millichap
www.marcusmillichap.com

RV Park/Campground for Sale

Year Built: 1990
Number of RV Lots: 59
Average RV Lot Rent: 275
Size: 20.9 acre(s)
Cap Rate: 11.1%
Purchase Method: Cash
Status: Active
Property ID: 956708
Posted on: Jun 11, 2018
Updated on: Sep 14, 2018
Price: $1,325,000

Property Description

Please do NOT drive asset without speaking with listing agent first. Eagle Ridge RV Park is a quiet, community-oriented, 58 space RV park in Grandview, Texas. Relative to other Texas RV parks, Eagle Ridge has an extremely attractive appearance with over 6 acres of ag exempt pasture land, a 6 acre RV park, and a 2 acre stocked pond. In total, the asset is 13 acres. This is a property that must be seen to be truly appreciated.
There is a 4,200 square foot single family home that can be purchased in addition to the RV park with the potential to be rented for approximately $2,500 per month or house the future owner. The home has a fully remodeled kitchen and living room with an upstairs balcony overlooking the pond.
Grandview, Texas is located exactly 1 hour south of the Dallas Fort Worth International Airport making the park a perfect opportunity for any RV park owner throughout the United States. Less than 2 and a half miles from Interstate 35, a major US interstate running from Mexico to Minnesota, the park allows residents and a potential owner the opportunity to live the rural and peaceful lifestyle, but to be less than an hour from the Fort Worth Stockyards, or Globe Life Park in Arlington.
Eagle Ridge RV Park is being offered at a 11.06 capitalization rate day one. If the future owner were to increase rents and add spaces, the property has the potential to be significantly higher than an 11 capitalization rate. The park boasts strong historical occupancy and there is virtually no RV park competition in any direction over 10 miles.
Eagle Ridge RV park has a clubhouse that is rented frequently, a playground, a swimming pool, and plenty of undeveloped space that could be used for creation of additional spaces.

Park Information

Year Built:1990
Size:20.9 acre(s)

Financial Information (Actual)

Gross Income$258,502
Operating Expense$111,895
Net Operating Income$146,607
Expense Ratio 43.3%
Debt Info

RV Space Information

Number of RV Lots:59
Average RV Lot Rent: $275

Utility Information

Sewer:Septic

Amenities and Other

Laundromat: Yes
Pool: Yes
Club House: Yes
Manager Office: Yes
Wifi: Yes
Fitness Center: Yes