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RV Park/Campground Details

  • Price: $1,490,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 10.2%
  • Listing ID: 6767548
  • Posted On: Nov 11, 2024
  • Updated On: Dec 5, 2024

Description

Pine Tar RV Park (8858 W Goforth Road, Kilgore, TX) is located on 5.5 acres of pine trees in East Texas and was established almost 2 years ago. 96% occupied. Spots are surrounded by trees and less than 1 mile from Interstate 20. Mix of 1/2 concrete and asphalt pads. City Water and septic. Sites are not metered individually, but could be using Emporia for less than 1 years electrical bill. Additional 17 (total of 45) concrete spots have water, electric and slabs poured. Septic will be installed end of December. We have a waiting list. Additional 5 spots available to build. 12 Park owned homes. Current rental rate is between $350 and $750 per month all bills paid, which is well below market rate.

Location

Quiet park with mature trees and rolling hills and a creek beside the property. Less than 1 minute from Interstate 20.

Amenities

  • Wifi
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Park Information

Number of RV Lots: 45
Year Built: 2023
Average RV Lot Rent: $400
Size: 5.5 acre(s)

Financial Information (Actual)

Gross Income: $236,059
Operating Expense: $59,839
Net Operating Income: $176,220
Expense Ratio: 25.3 %
Debt Info: NON ASSUMABLE FIRST

Utility Information

Water: City
Sewer: Septic

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