RV Park/Campground Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 7.0%
- Listing ID: 5838936
- Posted On: May 20, 2024
- Updated On: Sep 30, 2024
Description
Big Eddy Marina represents a rare opportunity to purchase a lifestyle community comprised of a 62 floating home sites with long-term homeowners paying monthly for their site. Additionally, there are 25 boat slips reserved for seasonal use and 43 boat slips available for homeowners.
Since purchase in 1993, the Property has averaged near 100% occupancy with very little turn over based to the high quality and numerous amenities of the marina as well as limited competition. Revenues has grown steadily, and an additional 10% rent increase took effect March 1st. Big Eddy offers significant upside include 3+- acres of undeveloped river suited for expansion, conversion of boat slips to additional home sites, or implementation of an HOA ownership format.
Located on the Columbia River in Gresham, Oregon, Big Eddy has convenient access to area Freeways, the Portland International Airport, and Cascade Station, one of the regions premier retail destinations. The Property offers access to the ultimate outdoor lifestyle including the Columbia River Gorge, boating, fishing, wine tasting, golfing, and the Cascade Mountains.
Location
Big Eddy Marina is located on NE Marine Drive, along the banks of the beautiful Columbia River, with the drive-in entry just a stones-throw west of the intersection at Interlachen Lane.
Amenities
- Storage
- Boat Access
- Manager Office
- Store
Park Information
Number of RV Lots: | 62 |
Year Built: | 1990 |
Average RV Lot Rent: | $1,039 |
Size: | 16.0 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $831,847 |
Operating Expense: | $362,416 |
Net Operating Income: | $469,431 |
Expense Ratio: | 43.6 % |
Utility Information
Water: | City |
Sewer: | City |