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3035 TX-154 - Lakefront Marina, Motel, RV Park, Gas Station Specialty Building Offered at $2,495,000 at a 10.88% Cap Rate in Quitman, TX 75783
INVESTMENT HIGHLIGHTS
- consists of 32 RV sites; a 36 room motel and lodge; a cabin rental; a recently upgraded, and a full-service gas station.
- Also has a fully equipped kitchen for a restaurant; a propane filling station; and much more.
- Situated on Lake Fork, one of the premier trophy Bass fishing lakes in the world.
- Contains a convenience store with deli food; a bait & tackle shop; a boat ramp and fishing dock; a non-operated, and a dock side gas pump.
- Located directly off Highway 154 with 5,000 cars passing through daily.
- On site WWTP & public water.
EXECUTIVE SUMMARY
JTACR Real Estate Group is pleased to present this lakefront Marina –The Only property offering this extent of amenities on Lake Fork.
The property consists of 32 RV sites; a 36 room motel and lodge; a cabin rental; a recently upgraded, full-service gas station; a convenience store with deli food; a bait & tackle shop; a boat ramp and fishing dock; a non-operated, dock side gas pump; a fully equipped kitchen for a restaurant; a propane filling station; and much more.
The property is located directly off Highway 154 with 5,000 cars passing through daily. Additionally, the property is situated on Lake Fork, one of the premier trophy Bass fishing lakes in the world, bringing prize winning fishermen and tourism from all over the world.
Current ownership has helped streamline the business while increasing revenue from multiple sources. Additional revenue opportunities can be found in improvements of the occupancy; improving the Wi-fi offering to charge customers for usage; implementation of roadside advertisements such as the billboard and business signage; repairing the dock side gas pump; obtaining a WWTP operator's license; entering into a gas contract; and more operational improvements.
For a strong and serious buyer, the Seller is open to separation of the businesses (to include / exclude certain components) based on the SRA approvals.
**ALL SITE VISITS ARE BY APPOINTMENT ONLY**
** PLEASE DO NOT VISIT THE PROPERTY WITHOUT APPROVAL**
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
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| Vacancy Loss |
-
|
-
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| Effective Gross Income |
-
|
-
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| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
- Property Manager on Site
- Waterfront
ABOUT 3035 TX-154 , QUITMAN, TX 75783
Upside Opportunities: OPERATION OF THE RESTAURANT WITH PRIVATE CLUB, NEW MENU, AND ALCOHOL SALES OBTAIN WASTE WATER TREATMENT PLANT OPERATOR’S LICENSE REPLACE SATELLITE TV WITH WIFI STREAMING & CHARGE CUSTOMERS ENTER INTO GAS CONTRACT REPAIR/UPGRADEDOCK-SIDE GAS PUMP TO SELL GAS OFF OF THE DOCK BILLBOARD AND HIGHWAY SIGNAGE ADVERTISEMENTS - Located directly off of Hwy 154, with an average of 5,000 cars passing by daily - The County Seat of Wood County, Quitman is a scenic town about 90 minutes east of Dallas and easily accessible at the convergence of state highways 182, 154, and 37. - One of the primary attractions of the area is the world class fishing! Lake Fork is arguably the greatest bass fishing lake in the country and home to nearly all of the Texas Top 50 Giants. Anglers travel to Lake Fork from all over the state, country, and even the world to have a chance to catch the next giant bass. Fishing tournaments, guides, and boat rentals create opportunities for fishermen of any experience or skill level to get on the lake and fish. In addition to bass fishing, Lake Fork boasts excellent crappie, bream, catfish, bowfin, carp, and more. - With more than 50 fishing tournaments scheduled on Lake Fork throughout the course of a year (multiple tournaments per month, every month except January), there’s a constant flood of fisherman and spectators traveling to the lake for fishing related events -estimated over 300,000 people annually. There’s a tourism market outside of these tournaments as well, with residents of larger cities retreating to the lake to enjoy the peace and quiet. About 15% of homes in the area are owned as vacation homes, contributing to the regular flow of guests to the area. This creates a great opportunity for local businesses in the tourism industry.
PROPERTY TAXES
| Parcel Number | R17395 | Improvements Assessment | $2,713,580 (2024) |
| Land Assessment | $183,950 (2024) | Total Assessment | $2,897,530 (2024) |
PROPERTY TAXES
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3035 TX-154 - Lakefront Marina, Motel, RV Park, Gas Station
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