RV Park/Campground Details
- Purchase Method: Seller Financing
- Cap Rate: 11.1%
- Listing ID: 579690
- Posted On: Nov 19, 2015
- Updated On: Apr 18, 2016
Description
The 7.81 acre property consists of 38 RV spaces, 4 motel quality cottages, 2 mobile homes, 1 log cabin, 1 single family residence, and 56 self-storage units. Daily, weekly, and monthly options on the rentals. The park offers full hook ups with 50AMP service and utilizes an Aerobic Treatment System (ATS) for waste water. Additionally, tremendous upside potential exists for a new Owner by adding additional storage or RV spaces on the south side of the property.
Strong in-place cash flow, solid occupancy history, and excellent location along Hwy 144 in Granbury, just SW of Fort Worth, make Midway Pines a very attractive Asset for an investor or owner/operator. The current owner and wife live onsite in a very nice 3/2 single family log residence and self manage the property. New ownership would have the ability to rent this house out for additional income.
Short term Seller Financing option is available with an approximate 50% down payment at a below market interest rate. Please call Broker to discuss additional terms in detail. Property tours are highly encouraged and are being scheduled upon request. To schedule a tour, please contact:
Jordan Cortez: 682.499.3877
Jordan.Cortez@VanguardREA.com
Justin Tidwell: 682.499.3878
Justin.Tidwell@VanguardREA.com
To view full Offering Memorandum and diligence material, please click below link to execute the electronic confidentiality agreement and gain immediate access.
Location
The Property is strategically positioned along Glen Rose Highway (Hwy 144) between the popular tourist destinations of Granbury and Glen Rose which provides excellent visibility and drive-by traffic.
Amenities
- Laundromat
- Club House
- Storage
- Manager Office
- Bathhouse
- Wifi
Park Information
Number of RV Lots: | 38 |
Year Built: | 1994 |
Average RV Lot Rent: | $395 |
Size: | 7.8 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $369,932 |
Operating Expense: | $147,057 |
Net Operating Income: | $222,875 |
Expense Ratio: | 39.8 % |
Utility Information
Water: | Well |
Sewer: | Treatment Plant |