RV Park/Campground Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 14.0%
- Listing ID: 1055432
- Posted On: Apr 18, 2019
- Updated On: Jul 8, 2021
Description
This 2.8 acre RV Camp completed construction in August of 2018, with brand-new septic, electrical and water systems, and in 3 months achieved 100% occupancy at an advertised $600/mo rent structure.
Uses City water, which is among the best in the region. The owner recently installed WiFi for the tenants, and there are 8 security cameras to allow the new owner to manage the property easily off-site.
It sits at the epicenter of the major oilfield activity in the region, situated between the fast-growing towns of Pecos and Monahans, which straddle the space between the Permian and Delaware Basins. With the new Exxon-Mobil pipeline beginning in Wink, and a brand-new, $1.5B refinery being constructed in Kermit, this area is planning for the boom to continue well into the 2030's and 40's.
Amenities
- Laundromat
- Wifi
Park Information
Number of RV Lots: | 62 |
Year Built: | 2018 |
Average RV Lot Rent: | $600 |
Size: | 2.8 acre(s) |
Financial Information (Actual)
Gross Income: | $140,776 |
Operating Expense: | $45,226 |
Net Operating Income: | $95,549 |
Expense Ratio: | 32.1 % |
Utility Information
Water: | City |
Sewer: | Septic |