Contact Information
RV Park/Campground Details
- Price: $5,490,000
- Purchase Method: Seller Financing
- Cap Rate: 10.9%
- Listing ID: 6768866
- Posted On: Nov 13, 2024
- Updated On: Nov 14, 2024
Description
Location, Location, Location! Directly serving FORD'S LARGEST $5.6 BILLION DEVELOPMENT in company history!
---- 3.0% BUYERS AGENT INCENTIVE ----
- Rare opportunity to invest in the Blue Oval City Market
- Storage Facility at each location serving both park and local residents
- In Place Management
- Long Term Tenant Base
- Room for Expansion
- Brand New Amenities
- Fiber Optic Internet
- Low Property Taxes
- Strong barrier to entry for new competition in the market
Currently grossing $65,000 per month, this offers a rare and unique opportunity for investors to capitalize on an existing double-digit cap rate in a market that one could argue the land itself is just as valuable. With an as is appraised value of $5,925,000, don’t miss out on the opportunity to invest in an area where the sky truly is the limit on future property values. Combining desirable storage and RV assets in an area where pent up demand is projected for decades, this truly is a rare opportunity at a price guidance of $5,490,000.
This two-park portfolio offers 78 premium lots with an additional 42-unit storage facility amongst the properties. Located in the booming Blue Oval market of Brownsville TN, these properties receive premium rents with strong occupancy levels in an area of unprecedented growth. There were only a handful of RV parks approved in Haywood County at the inception of Fords plans to invest $6.8 billion in the area. With new municipal codes and no further competition entering the market, this offers investors a peace of mind over competitive concerns. These properties boast an incredibly strong occupancy rate just from the construction of the Blue Oval Campus itself. With a planned completion date of 2027, this industry driver is estimated to bring an additional 30,000 workforce residence with housing needs to the area.
Recently completed in 2024 were additional amenities for park residences. The Will Evans location now has a 2,000 SF common area facility consisting of men’s and women’s bathing facilities, laundromat, conference room, and common area amenities such as a pool table and lounge area. The Tibbs Road location also had a laundromat addition as well as multiple common area pavilions added across both locations. All utilities are currently included in the lot rent with the exception of internet. Each pedestal has hard wired fiber internet that tenants can access through setting up their own account. In this quiet and friendly atmosphere, Hidden Acres offers a safe and clean living environment for its long term tenants.
Location
Located in the heart of the booming Blue Oval City market, Brownsville, TN. is a thriving commercial hub filled with opportunities in the fastest growing industrial market in the country! Brownsville, TN. offers the only nearby corporate facilities, retail centers, and dining options, providing a dynamic and attractive location to capitalize on Fords $5.6 billion Blue Oval development. The city's strategic positioning in the Memphis metropolitan area ensures access to a strong labor force and a robust economy that appealed to Ford for their largest development in company history. The area is slated to create an additional 30,000 jobs stemming from Ford's investment and offers a strategic opportunity for investors to capitalize off the current housing shortage. While owning an invaluable piece of property for future growth, this location presents an exceptional opportunity for future industry demands and positions the property as an attractive investment.
Amenities
- Laundromat
- Club House
- Storage
- Bathhouse
- Wifi
Park Information
Number of RV Lots: | 78 |
Year Built: | 2023 |
Average RV Lot Rent: | $850 |
Size: | 20.5 acre(s) |
Financial Information (Actual)
Gross Income: | $767,000 |
Operating Expense: | $168,000 |
Net Operating Income: | $599,000 |
Expense Ratio: | 21.9 % |
Utility Information
Water: | Well |
Sewer: | Septic |