Contact Information

RV Park/Campground Details

  • Price: $1,225,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 14.1%
  • Listing ID: 6089859
  • Posted On: Jun 5, 2024
  • Updated On: Aug 9, 2024

Description

- Management Willing to Stay Onboard
- Day One Cap Rate of 14.16%
- Operates on Well Water and Septic Sewer
- Approximately 0.5 Miles from U.S. Route 385 - Which Sees Over 17,000 Vehicles Daily
- Located South of the STRATOS DAC Facility - Funded by a $550 Million BlackRock Investment with Expected Completion by Mid 2025

Roadrunner Rental Community is a 34-site property located in Odessa, Texas. The sites are comprised of 34 park-owned RVs with tenants on monthly leases. The property operates on well water and septic sewer with all utilities covered by the ownership. The 2-acre property is located 0.5 miles from U.S. Route 385 and was built in 2011. US Route 385, a high-traffic corridor experiencing over 17,000 vehicles daily, is a spur of U.S. Route 85 that runs for 1,206 miles (1,941 km) from Deadwood, South Dakota to Big Bend National Park in Texas. Midland Internation Airport is approximately 23 miles from the park. Amenities include laundry facilities, 24/7 security cameras, free dish TV, and keyed mailboxes.
Some highlights of the Odessa area include:
Thriving Job Market: Odessa boasts the #2 largest year-over-year percentage gain in employment nationwide at an impressive 7.8% according to the US Bureau of Labor and Statistics (2023). This growth is further bolstered by the presence of major employers like Bobby Cox Companies, Halliburton, Investment Corporation of America, Keane Group, Saulsbury Companies, Telvista and Weatherford.
Major Investments: The ongoing construction of the $550 million Direct Air Capture plant in nearby Midland, coupled with Liberty Energy’s $50 million investment in their new Odessa headquarters, signifies substantial development in the region. These projects are expected to create a significant number of jobs, fueling Odessa’s growth.
The Perryman Group: An anticipated addition of 8,230 wage and salary jobs in Odessa by 2028, representing an annual rate increase of 1.91% (projected by The Perryman Group) further strengthens the economic prospects of the area.

Amenities

  • Laundromat
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Park Information

Number of RV Lots: 34
Year Built: 2011
Size: 2.0 acre(s)

Financial Information (Actual)

Gross Income: $315,854
Operating Expense: $142,810
Net Operating Income: $173,044
Expense Ratio: 45.2 %

Utility Information

Water: Well
Sewer: Septic

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