RV Park

The Retreat at Sonoran Springs

30885 AZ-85, Buckeye, AZ 85326

Listing Price: $12,000,000

Cap Rate
4.30%
Number of Spaces
800
Lot Size
232.00 acres
Occupancy
1.0%
Price/Space
$15,000
Spaces/Acre
3.45
Year Built
2021

Investment Overview

Marcus & Millichap is pleased to exclusively offer The Retreat at Sonoran Springs RV Resort (SS), located in the municipality of Buckeye, AZ, the fastest growing municipality in the US. Buckeye is home to 86,000 people with a year-to-year growth of 10.7% and a median income of $84,000. This ‘Class A’ motor coach first class development site is comprised of 232 acres of fee-simple land, fully entitled for an 800 site RV Resort, and designed to accommodate the “Big Rig” market with 100x50ft (5000 SF) sites. Additional amenities include: 2 clubhouses, 12-hole executive golf course, equestrian center and more. Water rights are included with the purchase of the land, and utilities are provided by a top of the line well and sewage treatment plant, which efficiently recycles water. While the property is fully entitled to accommodate a “resort style” development, buyers have the opportunity to select the operational models that best meet their operational style or exit strategy. Bordered by BLM land that opens to the Sonoran Desert and North Maricopa Mountains Wilderness Area, the resort will attract class A clientele that are under accommodated in the “Big Rig” market. Comparable resorts and comparable size sites in the Phoenix MSA, rent for upwards of $1000/mo; however, the proforma conservatively uses a lot rent of $850 as a monthly rate. With a conservative absorption of roughly 15% per year, and assuming a conservative occupancy of 60% by year 5; the proforma demonstrates a 10-year exit value of $80M at a 7.5% CAP rate, representing a 5.5x investment multiple and a 116% IRR over that 10 year period. For those that wish to capture retail opportunities from the captive audience of the resort/resident patrons, an additional development opportunity can be sold in tandem or separate, which is the resorts commercial frontage zoned and entitled with a 60 room hotel/apartment building, a sports bar/restaurant, a market, and a truck fuel and ‘big rig’ wash station. This land and fully entitled RV Resort, The Retreat at Sonoran Springs is offered with water-rights at $6,500,000.

Investment Highlights

  • Prime investment opportunity to build first class Resort with 5000 SF sites to accommodate the "Big Rig" market, while open to "all RVs"
  • Buyer/Developer can choose from several business models to create their preferred asset to operate or exit
  • Land fully entitled by experienced and top-notch design team

Exclusively Listed By

  • Glenn D. Esterson

    Vice President Investments

    Email Glenn

    License(s): GA: 355850

    Charlotte Uptown

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    License(s): AZ: BR675146000

    Arizona

RV Park

The Retreat at Sonoran Springs

Listing Price: $12,000,000

Cap Rate
4.30%
Number of Spaces
800
Lot Size
232.00 acres
Occupancy
1.0%
Price/Space
$15,000
Spaces/Acre
3.45
Year Built
2021

Investment Highlights

  • Prime investment opportunity to build first class Resort with 5000 SF sites to accommodate the "Big Rig" market, while open to "all RVs"
  • Buyer/Developer can choose from several business models to create their preferred asset to operate or exit
  • Land fully entitled by experienced and top-notch design team

Investment Overview

Marcus & Millichap is pleased to exclusively offer The Retreat at Sonoran Springs RV Resort (SS), located in the municipality of Buckeye, AZ, the fastest growing municipality in the US. Buckeye is home to 86,000 people with a year-to-year growth of 10.7% and a median income of $84,000. This ‘Class A’ motor coach first class development site is comprised of 232 acres of fee-simple land, fully entitled for an 800 site RV Resort, and designed to accommodate the “Big Rig” market with 100x50ft (5000 SF) sites. Additional amenities include: 2 clubhouses, 12-hole executive golf course, equestrian center and more. Water rights are included with the purchase of the land, and utilities are provided by a top of the line well and sewage treatment plant, which efficiently recycles water. While the property is fully entitled to accommodate a “resort style” development, buyers have the opportunity to select the operational models that best meet their operational style or exit strategy. Bordered by BLM land that opens to the Sonoran Desert and North Maricopa Mountains Wilderness Area, the resort will attract class A clientele that are under accommodated in the “Big Rig” market. Comparable resorts and comparable size sites in the Phoenix MSA, rent for upwards of $1000/mo; however, the proforma conservatively uses a lot rent of $850 as a monthly rate. With a conservative absorption of roughly 15% per year, and assuming a conservative occupancy of 60% by year 5; the proforma demonstrates a 10-year exit value of $80M at a 7.5% CAP rate, representing a 5.5x investment multiple and a 116% IRR over that 10 year period. For those that wish to capture retail opportunities from the captive audience of the resort/resident patrons, an additional development opportunity can be sold in tandem or separate, which is the resorts commercial frontage zoned and entitled with a 60 room hotel/apartment building, a sports bar/restaurant, a market, and a truck fuel and ‘big rig’ wash station. This land and fully entitled RV Resort, The Retreat at Sonoran Springs is offered with water-rights at $6,500,000.

Exclusively Listed By

  • Glenn D. Esterson

    Vice President Investments

    Email Glenn

    License(s): GA: 355850

    Charlotte Uptown

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    License(s): AZ: BR675146000

    Arizona

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