RV Park/Campground Details

Purchase Method: Cash, Seller Financing
Cap Rate: 8.0%
Listing ID: 1717153
Posted On: Jul 20, 2022
Updated On: Sep 29, 2022

Description

PRICE REDUCED! OWNER WANTS IT SOLD!

RV Park located in Mt. Vernon Texas near Lake Bob Sandlin and Lake Cypress Springs. There are currently 14 spaces with 30-amp and 50-amp full hookups available. There are two more scheduled to be complete by the end of July bringing the total to 16. Most of the current renters are long-term (monthly or longer) helping provide steady cash flow. The current owners have done minimal advertising up to this point. They have just launched a website that is fully functional and allows for online reservations. The website can be found at www.lakecypressspringsrv.com The property is +/- 5.84 Acres leaving room for additional development and has a natural spring. There is also a 5/3 modular home where the owners currently reside built in 2018. This could either be used as a residence for a new owner or an office/residence for a manager. It could also be rented out at current market rates or used as a VRBO for significant extra income. There is an area already fenced behind the home currently used to pasture sheep but this could easily be converted to additional spaces or possibly add boat/trailer storage. There is a new laundry facility that has been completed adding to the amenities. The laundry facility will also generate additional income. The park is on septic systems with city water and municipal power.

Location

New RV Park (opened 2020 and completed in 2021) located in Mt. Vernon, Texas in scenic and rural East Texas. With a distance of only 100 miles from Dallas this area has long been a go-to escape for city dwellers looking to get relaxed and enjoy nature. This park is conveniently located to two of the most popular lakes in East Texas, Lake Cypress Springs and Lake Bob Sandlin. The area is filled with recreational opportunities for those looking for fun on the water. Fishing, boating, skiing, wakeboarding, you name it! The water recreation is not the only draw for this area though. Hiking, camping, motorcycling, biking, and hunting are all year-round activities enjoyed by the locals and visitors alike. Close proximity to I-30 makes this park an excellent choice for overnight or long-term stays. The city of Mt. Vernon is home to a growing number of dining and shopping destinations and the city of Mt. Pleasant is just a short drive away with Home Depot, Walmart, Lowes, and other larger retailers.
The park was developed by the Woods family after they realized the need for additional accommodations for the growing number of RV enthusiasts. The market expanded tremendously after the Covid shutdowns and has continued to see strong growth as travel has become much more difficult and expensive. A testament to the market strength is the number of parks in the area. East Texas is also seeing a bit of a boom in housing and development as retirees relocate to the area looking to escape the city traffic, high property taxes, and more expensive housing prices. With the growth comes the need for workers, and there are many who are here on at least a semi-permanent basis, helping fuel the demand for long-term accommodations and the RV’s fill the need perfectly.