RV Park/Campground Details
- Purchase Method: Cash, New Loan
- Cap Rate: 20.0%
- Listing ID: 522014
- Posted On: May 15, 2015
- Updated On: Oct 1, 2015
Description
AUCTION - JUNE 10 - SUGGESTED OPENING BID $650,000
This consistently profitable RV Resort is conveniently located just one hour south of Chicago in DeMotte, Indiana. Easily accessible and adjacent to I-65, the property consists of 676 lots, 624 of which have been sold to private owners.
The park features a large lake, two swimming pools, a recreation center, tennis, basketball, playground and clubhouse. Lot owners and seasonal renters have been enjoying Lake Holiday since the early 1980s.
The 2014 Net income of $158,000 was generated by annual assessments from owners, rental of owned spots as well as continued lot sales.
Location
Lake Holiday Camp Resort is located at the intersection of Interstate 65 and Route 10 in DeMotte, Indiana. The property offers easy highway access and is only 60 miles south of Chicago and 55 miles north of Lafayette, Indiana. Lake Holiday draws guests from the Midwest region and beyond with most of its owners’ primary residences situated within 75 miles. The easy highway access and proximity to major metro areas make it a very desirable recreational destination.
Amenities
- Pool
- Club House
- Boat Access
- Manager Office
- Bathhouse
- Store
- Wifi
- Fitness Center
Park Information
| Number of RV Lots: | 676 |
Financial Information (Actual)
| Gross Income: | $812 |
| Operating Expense: | $653 |
| Net Operating Income: | $158 |
| Expense Ratio: | 80.4 % |
Utility Information
| Water: | Well |
| Sewer: | City |