Contact Information

Jake McClure
License: 177330

Horner, McClure & Associates

CONTACT BROKER

Price: $3,700,000
Purchase Method: Cash, New Loan
Cap Rate: 9.7%
Listing ID: 6772761
Posted On: Nov 19, 2024
Updated On: Nov 19, 2024

Description

Overview: Discover an exceptional investment opportunity with this portfolio of two thriving RV parks—Twin Lakes RV Park and Scissortail RV Park—situated across the highway from each other in the vibrant community of Ada, Oklahoma. Together, these properties encompass 29.06 acres and provide a combined total of 98 rentable RV pads and 19 cabins, catering to the growing demand for recreational vehicle accommodations in the area.

Twin Lakes RV Park:

Size: 15.09 Acres

Storage Facility 10-unit storage building rented at $50 monthly per unit

RV Pads: 42 full-service RV pads, 21 of which are Concrete equipped with 30 & 50 amp hookups, rural water, and sewer at each pad. Additionally, the park features 7 overflow spaces on the northeast side of a 10-unit storage building.

Cabins: 18 cozy cabins available for nightly or monthly rentals, ideal for guests seeking an extended stay.

Facilities An office located at the front for guest check-in, a storage cabin behind for maintenance, Laundry and Shower Building, 2 Private Lakes for Fishing/Walking

Single Family Home: 1500 square foot single-family home situated at the back of the property, providing potential for owner-occupancy or rental income.

Scissortail RV Park:

Size: 13.97 Acres

RV Pads: 56 concrete RV pads 30 & 50 amp hookups, rural water, and sewer at each pad, with 2 overflow spaces that require some improvements to be fully operational.

Cottage: Includes a charming cottage for additional lodging options, currently rented on a 6 month lease.

Single Family Home: 1500 square foot single-family home situated at the front of the property, providing potential for owner-occupancy or rental income.

Facilities: A laundry and shower building conveniently located at the front of the property, near the office and the single family home.

Conclusion: This portfolio presents a unique opportunity for investors looking to capitalize on the growing RV market. With well-maintained facilities, ample rental options, and significant expansion potential, Twin Lakes RV Park and Scissortail RV Park stand out as prime investment properties in Ada, Oklahoma. Don't miss your chance to invest in this lucrative venture!

*Seller Financing Not an option nor is assumption

*Please Note: The cap rate shown reflects the current income/occupancy rate, while the cap rate in the Offering Memorandum (OM) was calculated based on occupancy at the time the listing initially went live. Due to possible fluctuations in occupancy and other variables, these rates may differ.

Location

Based on the provided values, the total market value for the portfolio of Twin Lakes RV Park and Scissortail RV Park is calculated as follows:

- **Total RV Pads (98 pads):** 98 Rentable pads x $30,000 per pad = **$2,940,000**

- **Total Cabins (19 cabins):** 19 cabins x $40,000 per cabin = **$760,000**

- **Total Single-Family Homes (2 homes):** 2 homes x $100,000 (average) = **$200,000**

- **Total Offices (2 offices):** 2 offices x $37,500 (average) = **$75,000**

- **Total Laundry and Shower Buildings (2 buildings):** 2 buildings x $50,000 (average) = **$100,000**

- **Expandable Land (15 acres):** 15 acres x $8,925 per acre = **$133,875**

-**Total Market Value:**

$2,940,000 (RV Pads) + $760,000 (Cabins) + $200,000 (Homes) + $75,000 (Offices) + $100,000 (Laundry & Shower) + $133,875 (Expandable Land) = **$4,208,875**

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**Total Market Value of the RV Park Portfolio: Approximately $4.21 million.**