RV Park/Campground Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.2%
- Listing ID: 1669369
- Posted On: May 14, 2022
- Updated On: Sep 21, 2022
Description
This is your perfect opportunity for a family-run business and residence, or to create a much larger campground on the property's 40+ undeveloped acres. There are 2 owners’ homes on this property. Both homes have 3 bedrooms and 2 bathrooms. The campground has 100 spacious RV campsites (90 full-hookups, 10 water/electric; 80% of sites are seasonal) with a picnic table and fire pit at each site. The size of the campsites ranges from 1900 square feet to 5500 square feet (average full hookup site is about 3000 sqft.). Many campsites have shade, and the business is currently run by 2 adults.
The current campground amenities are 2 fishing ponds, rec hall, playground, camp store, wifi, on-site propane dispensing, and well-kept grounds. The campground is a few minutes away from a very popular tourist area for millions of visitors each year.
There are many possibilities for this property: keep it as-is or expand slightly and run it with only 2 adults, or clear trees (which you can sell to a timber harvester) and expand even further. If you want to run the business with 2 or 3 adults, you can increase revenue by adding primitive cabins by the woods, or by adding more campsites around the border of the campground. Additionally, if you only need 1 owners’ home, the second home could potentially be used as a bed and breakfast or rental. If you want to have an employee-run campground, this property has plenty of room to add more sections of campsites, and 1 of the homes could easily convert into a seasonal cafe with offerings to guests and locals (buyer to check local zoning requirements for this possibility).
2021 gross income approx.: $143,000; operating expenses approx.: $33k
Location
The campground is a few minutes away from a very popular water tourist attraction area for millions of visitors each year.
Amenities
- Storage
- Manager Office
- Bathhouse
- Store
- Wifi
Park Information
Number of RV Lots: | 100 |
Year Built: | 1970 |
Average RV Lot Rent: | $1,200 |
Size: | 72.0 acre(s) |
Financial Information (Actual)
Gross Income: | $143,467 |
Operating Expense: | $33,702 |
Net Operating Income: | $109,765 |
Expense Ratio: | 23.5 % |
Utility Information
Water: | Well |
Sewer: | Septic |