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RV Park

Shady Grove RV Park

2905 W Oakdale Rd, Grand Prairie, TX 75050

Listing Price: $4,900,000

Cap Rate
5.81%
Number of Spaces
65
Lot Size
5.25 acres
Occupancy
100.0%
Price/Space
$75,385
Spaces/Acre
12.38
Year Built
1990

Investment Overview

Shady Grove RV Park is a 65-site RV community located in Grand Prairie, Texas in the middle of the Dallas/Fort Worth Metroplex. The community consists of 63 RV lot rentals and two mobile home lot rentals. The property is located on over five acres and has asphalt roads throughout. The community operates on city water and sewer. There are 14 lots that are direct billed for electric, four lots receive a charge back at the end of the month, and 47 lots receive a $100 credit included in the rent with any overage charged back to the tenant. The community pays for the water, sewer, and trash. Wi-Fi service through Charter Cable is included in the rent charge for all residents other than those at $575 lot rents, for whom a $15 monthly subcharge is added if used. All residents sign monthly leases as long-term stay clients are the focused customer. Grand Prairie, Texas is located between the major cities of Dallas and Fort Worth. Grand Prairie offers many local attractions including the Grand Prairie Historical Museum, Lone Star Park, the Grand Prairie Premium Outlets, golf courses, Traders Village Flea Market and many more. The city sees close to 10 million visitors every year. The Dallas Morning News states that the city is also home to large companies that employ thousands of people per year, including Lockheed Martin Missiles and Fire Control, Grand Prairie Independent School District and Bell Helicopter-Textron. Dallas/Fort Worth and Arlington metroplex as a whole had the most growth in population among all the metropolitan areas in the United States. Over the past three years the current ownership has spent $477,000 overhauling the community. In the process, they reinvented Shady Grove adding new signage, new fencing, new parking timbers, new picnic tables, new gravel pads and a new office. Note that the two mobile home lots have shorter, vintage homes which have been occupied by the residents for many years. The subsequent use of those lots will be RV. As the ownership has unveiled each new phase of the overhauled community, demand has been strong and newly opened lots have leased quickly. The asset is located approximately five minutes from the major highway Interstate 30 which leads into both Fort Worth and Dallas. Shady Grove RV Park is less than 15 minutes from the DFW International Airport. Shady Grove RV Park is being offered at a day one capitalization rate of 5.81 percent and a pro forma capitalization rate of 7.44 percent. This asset rarely has any vacancy and is poised to benefit heavily from continued rental growth in Dallas/Fort Worth.

Investment Highlights

  • Current Rents Average $659 – Submarket Average is $787 ($128 Difference)
  • City Water and Sewer
  • Located Directly Between Dallas and Fort Worth, Texas
  • 5.81% Day One Cap Rate, 6.72% Day One Total Return with Current Debt Quote, 10.8% Pro-Forma Total Return
  • Located Less than 10 Minutes from Interstate 30, and Less than 15 Minutes from DFW Airport
  • Surrounded by Industrial Buildings

Exclusively Listed By

RV Park

Shady Grove RV Park

Listing Price: $4,900,000

Cap Rate
5.81%
Number of Spaces
65
Lot Size
5.25 acres
Occupancy
100.0%
Price/Space
$75,385
Spaces/Acre
12.38
Year Built
1990

Investment Highlights

  • Current Rents Average $659 – Submarket Average is $787 ($128 Difference)
  • City Water and Sewer
  • Located Directly Between Dallas and Fort Worth, Texas
  • 5.81% Day One Cap Rate, 6.72% Day One Total Return with Current Debt Quote, 10.8% Pro-Forma Total Return
  • Located Less than 10 Minutes from Interstate 30, and Less than 15 Minutes from DFW Airport
  • Surrounded by Industrial Buildings

Investment Overview

Shady Grove RV Park is a 65-site RV community located in Grand Prairie, Texas in the middle of the Dallas/Fort Worth Metroplex. The community consists of 63 RV lot rentals and two mobile home lot rentals. The property is located on over five acres and has asphalt roads throughout. The community operates on city water and sewer. There are 14 lots that are direct billed for electric, four lots receive a charge back at the end of the month, and 47 lots receive a $100 credit included in the rent with any overage charged back to the tenant. The community pays for the water, sewer, and trash. Wi-Fi service through Charter Cable is included in the rent charge for all residents other than those at $575 lot rents, for whom a $15 monthly subcharge is added if used. All residents sign monthly leases as long-term stay clients are the focused customer. Grand Prairie, Texas is located between the major cities of Dallas and Fort Worth. Grand Prairie offers many local attractions including the Grand Prairie Historical Museum, Lone Star Park, the Grand Prairie Premium Outlets, golf courses, Traders Village Flea Market and many more. The city sees close to 10 million visitors every year. The Dallas Morning News states that the city is also home to large companies that employ thousands of people per year, including Lockheed Martin Missiles and Fire Control, Grand Prairie Independent School District and Bell Helicopter-Textron. Dallas/Fort Worth and Arlington metroplex as a whole had the most growth in population among all the metropolitan areas in the United States. Over the past three years the current ownership has spent $477,000 overhauling the community. In the process, they reinvented Shady Grove adding new signage, new fencing, new parking timbers, new picnic tables, new gravel pads and a new office. Note that the two mobile home lots have shorter, vintage homes which have been occupied by the residents for many years. The subsequent use of those lots will be RV. As the ownership has unveiled each new phase of the overhauled community, demand has been strong and newly opened lots have leased quickly. The asset is located approximately five minutes from the major highway Interstate 30 which leads into both Fort Worth and Dallas. Shady Grove RV Park is less than 15 minutes from the DFW International Airport. Shady Grove RV Park is being offered at a day one capitalization rate of 5.81 percent and a pro forma capitalization rate of 7.44 percent. This asset rarely has any vacancy and is poised to benefit heavily from continued rental growth in Dallas/Fort Worth.

Exclusively Listed By

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