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Walnut Creek RV Park

RV Park/Campground for Sale in Palestine, Texas

8686 State Hwy 155
Palestine, TX 75803

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Sale Price: $475,000

Contact Information

Judy Blain

RV Park/Campground for Sale

Year Built: 2014
Number of RV Lots: 24
Average RV Lot Rent: 225
Size: 12 acre(s)
Purchase Method: Cash, New Loan
Status: Active
Property ID: 994702
Posted on: Oct 01, 2018
Updated on: Oct 02, 2018
Price: $475,000

Property Description

Nice, quiet RV park with mostly monthly tenants. This is a country setting on 12 acres. There are 2 ponds, walking trails and plenty of room to add more sites or cabins. There is a 30x50 maintenance building and a laundry room with shower on site.
There are 24 spacious sites, all full hookup with 30/50amp. Two sites are covered and rent for $350. Uncovered sites are $225/month.
There are 2 beautiful apartments, both currently rented. Downstairs is one bedroom, partially furnished. The upstairs is 2-1, fully furnished, and is listed on AirBnB when unoccupied.

The sales price represents a cap rate of 10, based on current 75% RV occupancy and 2 occupied apartments. We usually have a higher occupancy than that,

Significant improvements have been made to the property by the current owner, and now it’s time for the new owner to make some simple changes to increase your income:

1) Current rents are below area market value. A simple $25/mo rate increase with 75% occupancy makes this price a cap rate of 11. Nearby RV park rates are $270 and $300/month.
2) Presently there is no website, and most referrals are drive by traffic and returning clients.
3) There is a high need for short-term housing in this area. Both the local hospital and the prison use a lot of contract medical personnel, and we get frequent calls from people looking for furnished housing or RVs to rent.
4) Add more sites. There is level ground in the back and room on the septic system for more sites.

Location Description

Palestine is southeast of Dallas, and has a lot to offer for a small town. The downtown area attracts many visitors, and people come from all over for the Dogwood and Dulcimer Festival in the spring and to ride the train to Rusk to see the dogwoods in bloom. In the fall, the town hosts a national dog show. Antique stores line Main Street, and there are over 1800 historic sites in the area.
Lake Palestine is 15 minutes away, and Tyler is 30 minutes away.

Park Information

Year Built:2014
Size:12.0 acre(s)

RV Space Information

Number of RV Lots:24
Average RV Lot Rent: $225