RV Park

Lake Athens Marina & RV Park

5401 Marina Dr, Athens, TX 75752

Listing Price: $2,000,000

Cap Rate
10.21%
Number of Spaces
59
Lot Size
47.15 acres
Occupancy
85.0%
Price/Space
$33,898
Spaces/Acre
1.25
Year Built
2016

Investment Overview

Lake Athens Marina and RV Park was renovated in 2016 and is located in Athens, Texas which is 80 miles from Downtown Dallas, 90 miles from Dallas Love Field Airport and 100 Miles from DFW Airport. The asset consists of 59 RV lot rental spaces and sits on 47.15 acres.. Purchase must be all cash. Lake Athens Marina and RV Park has a gated entrance and is aesthetically pleasing due to its landscaping, water views, and cleanliness. The park operates on city water and sewer and all utilities are paid by the owner. Park amenities include waterfront lodging on the 1,799-acre spring fed Lake Athens, 2 showers, laundry facilities, watersport activities, volleyball court, firepit, playground, and free WIFI. Athens, Texas is part of Henderson County and its attractions include the widely known and visited Texas Freshwater Fisheries Center (TFFC). TFFC houses a hatchery, laboratory, aquarium, and education center focusing on underwater wildlife in the state’s freshwater streams, ponds and lakes. Many other attractions in Athens include the Henderson County Historical Museum, the Athens Scuba Park and the Tara Winery. According to Sperling’s BestPlaces.net, Athens, Texas unemployment rate is 3.8% (U.S. average is 3.9%) and Athens jobs have increased by 2.4% over the last year. Lake Athens Marina and RV Park is being offered at a day one cap rate of 10.21% and a Pro Forma cap rate of 11.97%. The owner of this park gets the benefit of multiple income streams including the RV park, a percentage of the revenues from the restaurant and bait shop, along with RV and boat storage. The park charges monthly rates of $500 for 30-amp spaces and $550 for 50-amp spaces. This property is currently in a 35-year land lease deal with the Lake Athens Municipal Water Authority with 30 years left on the lease, which is common for waterfront property in Texas. The current manager is open to staying on board for future ownership.

Investment Highlights

  • Purchase Must be All Cash
  • 30 Years Remaining on a Ground Lease
  • Day 1 Cap Rate of 10.21% on a 48.7% Expense Ratio with a Gated Front Entrance on the Shore of Lake Athens.
  • Park Operates on City Water and City Sewer.
  • Multiple income streams (RV Park, RV and Boat Storage, Percentage of Restaurant and Bait Shop Sales)

Exclusively Listed By

RV Park

Lake Athens Marina & RV Park

Listing Price: $2,000,000

Cap Rate
10.21%
Number of Spaces
59
Lot Size
47.15 acres
Occupancy
85.0%
Price/Space
$33,898
Spaces/Acre
1.25
Year Built
2016

Investment Highlights

  • Purchase Must be All Cash
  • 30 Years Remaining on a Ground Lease
  • Day 1 Cap Rate of 10.21% on a 48.7% Expense Ratio with a Gated Front Entrance on the Shore of Lake Athens.
  • Park Operates on City Water and City Sewer.
  • Multiple income streams (RV Park, RV and Boat Storage, Percentage of Restaurant and Bait Shop Sales)

Investment Overview

Lake Athens Marina and RV Park was renovated in 2016 and is located in Athens, Texas which is 80 miles from Downtown Dallas, 90 miles from Dallas Love Field Airport and 100 Miles from DFW Airport. The asset consists of 59 RV lot rental spaces and sits on 47.15 acres.. Purchase must be all cash. Lake Athens Marina and RV Park has a gated entrance and is aesthetically pleasing due to its landscaping, water views, and cleanliness. The park operates on city water and sewer and all utilities are paid by the owner. Park amenities include waterfront lodging on the 1,799-acre spring fed Lake Athens, 2 showers, laundry facilities, watersport activities, volleyball court, firepit, playground, and free WIFI. Athens, Texas is part of Henderson County and its attractions include the widely known and visited Texas Freshwater Fisheries Center (TFFC). TFFC houses a hatchery, laboratory, aquarium, and education center focusing on underwater wildlife in the state’s freshwater streams, ponds and lakes. Many other attractions in Athens include the Henderson County Historical Museum, the Athens Scuba Park and the Tara Winery. According to Sperling’s BestPlaces.net, Athens, Texas unemployment rate is 3.8% (U.S. average is 3.9%) and Athens jobs have increased by 2.4% over the last year. Lake Athens Marina and RV Park is being offered at a day one cap rate of 10.21% and a Pro Forma cap rate of 11.97%. The owner of this park gets the benefit of multiple income streams including the RV park, a percentage of the revenues from the restaurant and bait shop, along with RV and boat storage. The park charges monthly rates of $500 for 30-amp spaces and $550 for 50-amp spaces. This property is currently in a 35-year land lease deal with the Lake Athens Municipal Water Authority with 30 years left on the lease, which is common for waterfront property in Texas. The current manager is open to staying on board for future ownership.

Exclusively Listed By

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