5327 Wasson Rd
Big Spring, TX 79720
West Texas Friendly RV Parks · Specialty Property For Sale · 10,000 SF

This Offering consists of 2 parks: West Texas Friendly RV Park South located at 5327 Wasson Road, and West Texas Friendly RV Park North located at 1314 West Highway 176, both in Big Spring, Texas. The parks are a little over an 8-mile drive from one another. The North Park, built in 2016, has 41 sites and is on 5.83 acres and the South Park have 80 sites (6 which are covered) on 20 acres with room for another 22 sites that have yet to be built. The North Park is less than one-half miles north of Interstate 20, a major east west US corridor and the busiest highway through the Permian Basin. The South Park, built in 2013, is a little less than 5 miles south of Interstate 20 and boasts a resident base with a wait list consisting largely of families. The South Park is also in the Forsan School District, held in high regard in the Big Spring area. There are no big company contracts at either park currently, only individual residents. Both parks are on city water and septic sewer systems. The Big Spring economy is heavily influenced by all the activity in the Permian Basin. The Permian Basin is the world’s second largest natural gas and oil shale currently with 437 of the United States’ 958 total rigs. “Exxon Mobil will triple production in the Permian Basin, the hottest US shale oil field, by 2025…Last year, Exxon doubled its Permian holdings through the $5.6 billion acquisition of companies owned by the Bass family.” “Chevron and its legacy companies have been a fixture in the Permian…since the early 1920s…and with approximately 2 million net acres of resources, Chevron is the Permian Basin’s largest net acreage holder.” Delek US Holdings recently bought the Big Spring 73,000 barrels per day refinery from Alon which sits on the north side of Interstate 20 in Big Spring. Kinder Morgan CO2 owns the Wink Pipeline, a 450-mile Texas intrastate crude oil pipeline system consisting of three mainline sections, two gathering systems and numerous truck delivery stations, which contributes positively to Big Spring’s workforce. The Federal Correctional Institution, Big Spring is a low-security US federal prison for male inmates and houses 1,709 inmates. This facilities employee base along with the George H. O’Brien, Jr. VA Medical Center’s employee base in Big Spring contribute a consistent and stable number of residents to the parks that are not oilfield related. These parks both continue to grow their net operating incomes, largely due to the current owner’s marketing efforts, expansion (28 new sites at the South Park), and commitment to strong management. The assets are priced together at a day-one capitalization rate of 13.8 percent. This is an excellent opportunity to acquire a high-yield park through a property that continues to perform well with upside through rent growth, additional covered sites (currently yielding 50% more than uncovered sites) and the development of 22 additional sites at the South Park.