RV Park/Campground Details
- Purchase Method: Cash, New Loan
- Cap Rate: 13.5%
- Listing ID: 6577728
- Posted On: Jul 11, 2024
- Updated On: Sep 3, 2024
Description
The park was started in 2019 and began with just two spaces. It has rapidly grown over the next several years, and now has 17 full hook ups. There are a number of long term tenants (currently 14) and there are also a number of construction related tenants who are there for the solar facility nearby. There are no long term leases in place so a new owner would be free to raise rents if desired. The overnight traffic is regular but not significant. This could be increased with advertising, but the current owners do not do any at this point. The park averages 80-85% occupancy on a regular basis. There is also a small laundry facility on the property which brings in some additional revenue.
The park includes 17 sites, a small laundry, and two campers that are park owned and rent for $650.00 and $750.00 per month. This investment is perfect for investors looking for a solid return on investment in a growing market with upside potential.
There is an adjacent 2100 SF 5 Bed 2 Bath house and four RV Spots that can also be purchased if desired.
Location
Close to I-30 and close to Mt. Vernon, TX. Lake Cypress Springs and Lake Bob Sandlin are close by offering numerous recreational possibilities.
Amenities
- Laundromat
- Wifi
Park Information
Number of RV Lots: | 17 |
Year Built: | 2019 |
Average RV Lot Rent: | $517 |
Size: | 3.5 acre(s) |
Financial Information (Actual)
Gross Income: | $94,350 |
Operating Expense: | $30,132 |
Net Operating Income: | $64,218 |
Expense Ratio: | 31.9 % |
Utility Information
Water: | City |
Sewer: | Septic |