Investment Overview

Marcus & Millichap is pleased to present a 2 Park Portfolio in Carteret County, North Carolina, consisting of Harkers Island RV Resort and Atlantic RV Resort. Situated across 72.38 total acres on North Carolina’s Crystal Coast, this portfolio offers a rare combination of stabilized RV resort income, marina operations, and significant development potential in one of the state’s most desirable coastal markets. Harkers Island RV Resort is a 201-unit waterfront RV resort and marina located at 288 Guthrie Drive, Harkers Island, NC, spanning 13.52 acres on the Straits waterfront. The property features 128 occupied RV lots (24 straits-front at $7,300/year and 28 harborfront/marshfront at $6,800/year, plus interior lots at $6,200/year), 42 boat lifts averaging $400/month, 30 dry boat storage lots at $46/month, and fee income from transfer fees and other ancillary sources. Harkers Island generates $1,092,965 in gross revenue with $911,343 in NOI (P&L 1) at 100% RV occupancy. The park operates with city water and city sewer (landlord pays, included in rent), with electric direct-billed to tenants. Harkers Island is permitted to expand from 42 to approximately 80 total boat lifts, representing meaningful incremental marina revenue. Atlantic RV Resort is a 137-unit RV resort and marina located at 1001 Morris Marina Road, Atlantic, NC, spanning 58.86 acres with expansive waterfront access and a newly renovated restaurant. The property currently operates 31 occupied RV lots at an average of $546/month, 9 boat lifts averaging $324/month, 1 ferry slip rented to the Cape Lookout Ferry at $2,500/month, and 1 construction slip at $750/month. Atlantic RV generates $277,000 in gross revenue with $186,800 in NOI (P&L 1) at only 30.7% RV occupancy. The property is permitted for 282 total RV lots with roads already paved and built out for approximately 175 additional sites, plus permits to add 20 additional boat lifts. Soil has been tested for additional septic, and the park includes 30 dry storage lots and a newly redeveloped restaurant that currently operates at breakeven. On a combined portfolio basis, the two parks have generated $1,449,965 in gross revenue and projected $1,225,854 NOI for 2026 (P&L 1) across 338 capitalized units at 71.9% blended occupancy. Broker-adjusted P&L 2 projects $1,584,060 in revenue and $1,079,225 in NOI at 81.6% occupancy by 2027 (not including any expansion value). With full stabilization and development of 175 expansion RV lots, 60 additional boat lifts, 30 storage lots, and the restaurant, their is substantial value add and income opportunity beyond 2027 P&L 2 projections. Investors can capitalize on the current income stream while executing a phased development plan to unlock substantial value creation across both properties. We are asking investors to submit their best offer on this unpriced opportunity. All offers must include pricing, inspection period, funding source, and appropriate due diligence timelines. This portfolio represents a unique opportunity to acquire two stabilized coastal RV resorts with marina operations and significant permitted development upside in one of North Carolina’s most attractive recreational markets.