Contact Information

Jake McClure
License: 177330

Horner, McClure & Associates

CONTACT BROKER

Price: $1,700,000
Purchase Method: Cash, Seller Financing, New Loan
Cap Rate: 4.6%
Listing ID: 6772792
Posted On: Nov 19, 2024
Updated On: Nov 19, 2024

Description

Highway 75 RV Park & Storage: Located at 13705 Coalton Road, Henryetta, OK 74437, directly adjacent to US-62, (Highway 75 Business) just 4 miles north of the I-40 interchange and Highway 375 (Indian Nation Turnpike) in the heart of Okmulgee County. This property boasts a highly convenient and desirable location for both long-term residents of the park, and also the high volume of RV travelers along these routes looking for daily and weekly stays. With a modern design, this RV Park includes a number of diverse revenue streams, including 48 pull-through RV sites with full hookups, 8 park-owned rental RV's, 34 indoor storage units and outdoor concrete pads (for RV, boat, truck,and recreational vehicles), 2 leased Commercial Workshops, a leased apartment, a leased mobile home, a 1000-gallon retail propane tank, leased billboards, laundry room, and beverage/snack machine concessions. Amenities include large TV sitting lounge with billiards table and snacks, stocked fishing pond, picnic areas, shower, dog run, swings, horseshoe pit, and 10 open acres for walking. With an experienced, dedicated management and maintenance staff in place, investors can oversee from a remote location ensuring that the park's day-to-day operations are well-maintained, while still reaping the benefits of a steady cash flow and profit picture. The property is primed for expansion of small rental properties (tiny homes, mobile homes, cabins, RV's) as the Okmulgee County rental market is highly under-supplied and aged, and the demographic is regularly demanding these types of rentals. Highlighted by it's impressive infrastructure, amenities, and growth opportunities, don't miss this opportunity to own this turn-key, sought after property in Henryetta, Oklahoma. Contact our experienced team at Horner McClure & Associates today for more information.

The seller will consider seller financing.

Location

Prime Location: Situated just off US Highway 75 and less than 5 miles from Interstate 40 and Highway 375 (Indian Nation Turnpike), this multi-family property at 13705 Coalton Road boasts a highly desirable location. With easy access to major highways, it offers convenience and accessibility for both long term and short term visitors.

Hassle-Free Management: With a top-notch management team in place, this property offers a hands-off investment opportunity. The efficient management allows the owner to be worry-free and focus on other ventures while still reaping the benefits of a well-maintained property.

Impressive Infrastructure: This property features exceptional amenities and infrastructure for residents. Each RV lot comes with full hookups, ensuring a comfortable and convenient living experience. Additionally, renters enjoy complimentary internet access, a common area with showers and bathrooms, a pool table, a laundry room, a fishing pond, a playground, a dog run, and a horseshoe pit. These amenities enhance the overall appeal of the property and attract tenants seeking a high-quality living environment.

Diverse Revenue Streams: The owner of this multi-family property has implemented various revenue streams to maximize profitability. In addition to the income generated from RV lot rentals, the property offers additional services such as propane sales, RV/boat storage, personal storage units, trailer rentals, commercial workshop rentals, and apartment and mobile home rentals. This diversified income approach ensures a steady cash flow and multiple avenues for growth.

ROI Potential: With its prime location, efficient management, impressive amenities, and diverse revenue streams, this multi-family property presents an excellent opportunity for investors seeking a high return on investment. The combination of a desirable location, hassle-free management, and multiple income streams positions this property as a lucrative investment option for those passionate about maximizing their ROI. With room for expansion, this is an exceptional opportunity to capitalize on the potential of the business.

Dive into the details with current financials available for the 2021, 2022, and 2023 P&L ensuring you have all the information you need to make an informed investment decision. Please refer to the due diligence folder for those documents.

The park has been consistently improved and the capital expenditures have been $11,055 for 2023, $16,538 for 2022, and $15,882 for 2021. The constant improvements have created a turn key operation.