Contact Information
Jake McClure
License: 177330
RV Park/Campground Details
- Price: $199,900
- Distressed: This property is in default, REO or in foreclosure.
- Purchase Method: Cash, New Loan
- Cap Rate: 18.0%
- Listing ID: 6772765
- Posted On: Nov 19, 2024
- Updated On: Nov 19, 2024
Description
Norfolk RV Park presents a fantastic opportunity for investors or entrepreneurs looking to break into the RV park business. Situated on just over 10 acres of land near the river outside of Cushing, this property includes 10 established RV pads and offers plenty of room for expansion. Whether you're looking to develop additional amenities or increase capacity, the spacious lot provides ample flexibility for future growth.
The property also includes a 1930s home, offered at no additional value, but which could be repurposed or cleared to make way for further development. With the park’s location near a natural water source and the serene rural surroundings, this RV park is ideally positioned to attract travelers seeking a peaceful and scenic place to stay.
This is a turnkey opportunity, with the potential to start generating income from day one. Whether you’re seeking a new venture or expanding your portfolio, Norfolk RV Park is an excellent starter option in the ever-growing RV travel market.
The Seller is not interested in any kind of Seller Financing terms.
Location
Full Hookup RV Pads (10 pads):
10 pads x $12,500 per pad = $125,000
Remaining Land (8 acres):
8 acres x $9,000 per acre = $72,000
Tear-Down House:
Offered at no value = $0
Total Market Value:
$125,000 (RV Pads) + $72,000 (Remaining Land) + $0 (Tear-Down House) = $197000
Park Information
Number of RV Lots: | 10 |
Year Built: | 0 |
Average RV Lot Rent: | $450 |
Size: | 10.0 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $45,000 |
Operating Expense: | $9,000 |
Net Operating Income: | $36,000 |
Expense Ratio: | 20.0 % |
Utility Information
Water: | City |
Sewer: | Septic |