RV Park Portfolio 2 Specialty Properties Offered at $2,800,000 in Big Spring, TX
INVESTMENT HIGHLIGHTS
- There are 121 RV sites (80 at West Texas Friendly South and 41 at West Texas Friendly North) with on site managers/maintenance, laundry, bath house, a
- Current occupancy of 90%. The park caters to contract workers in the petrochemical, windfarm, and healthcare industries. These jobs are typically long
- Located directly off 87 and TX-176, major thoroughfares though Big Spring. The parks are located roughly 45 miles from Midland.
- There is an opportunity to increase rent through expansion, and construction of additional RV covers.
- The property has exhibited a strong performance history pre and post pandemic.
EXECUTIVE SUMMARY
Avison Young, is pleased to offer The West Texas Friendly RV Park Portfolio, a two property, 121-site RV Park in Big Spring, TX.
The asking price is $2,800,000. This is a 12.13% cap rate on current income and a 16.24% cap rate on year 1 pro forma.
Selling agent has ownership in selling entity.
The asking price is $2,800,000. This is a 12.13% cap rate on current income and a 16.24% cap rate on year 1 pro forma.
Selling agent has ownership in selling entity.
DATA ROOM Click Here to Access
- Offering Memorandum
TAXES & OPERATING EXPENSES (ACTUAL - 2023) Click Here to Access |
ANNUAL |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
PROPERTY FACTS
| Price | $2,800,000 |
| Price / SF | $140.00 / SF |
| Cap Rate | 12.13% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 20,000 SF |
| Total Land Area | 31.09 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 5327 Wasson Rd, Big Spring, TX 79720 | Specialty | 10,000 SF | 2013 | - |
| 1314 Highway 176, Big Spring, TX 79720 | Specialty | 10,000 SF | 2018 | - |
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