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RV Park

Tye RV Park

441 N Access Rd, Tye, TX 79563

Listing Price: $4,350,000

Cap Rate
10.95%
Number of Spaces
146
Lot Size
25.00 acres
Occupancy
100.0%
Price/Space
$29,795
Spaces/Acre
5.84
Year Built
1990

Investment Overview

Tye RV Park is a 126-site RV Park located in Tye, Texas just outside of the city of Abilene with an additional 28 sites currently under construction with expansion land for more. The park is being offered at $4,350,000 for the 118 sites plus an additional $750,000 for the additional 28 sites under construction for a total purchase price of $5,100,000. The park sits on 25 acres of land with asphalt and gravel roads throughout the park. The amenities include laundry, Wi-Fi, two billboards, new bathrooms and showers, a six acre catch and release fishing pond and dog stations. The park operates on city water and sewer and the park pays for the water, sewer and trash utilities and bills back electricity to the tenants. The current management is open to staying on board for the new owners. Tye, Texas and located just next to the city of Abilene which offers both its visitors and residents many local attractions. These attractions include the Abilene Zoo, Adamson-Spalding Storybook Garden, the Dyess Air Force Base, Swenson House Historical Society, many museums, including the Frontier Texas Museum, as well as breweries and wineries. The major employers in the area include Dyess Air Force Base, Hendrick Health System, Abilene Independent School District, Abilene State Supported Living Center, the City of Abilene and the Texas Department of Criminal Justice. These major employers employ thousands of residents per year which creates a need for long term and short-term housing. The asset is located right next to the major highway Interstate 20 which runs right through the city of Abilene. Traffic counts in front of the RV Park are 35,000 vehicles per day according to TxDot Traffic Counter. The park also currently boasts 100 percent occupancy on all available sites. The competing RV parks throughout Abilene boast very high occupancy. Tye RV Park is being offered at a day one capitalization rate of 10.95 percent and pro forma capitalization rate of 13.07 percent (neither the day one cap rate or the pro-forma cap rate include the 28 sites under construction). At the lowest monthly rent in the current monthly range of $425 per month, the additional 28 sites stand to increase the annual rental income by up to $142,800.

Investment Highlights

  • Offered at Day One Cap Rate of 10.95% with Significant Upside in Rent Growth and Additional Sites
  • Park Operates on City Water and Sewer
  • Management Open to Staying for Future Ownership
  • Located Right Next to Major Highway Interstate 20 with 35,000 average vehicles per day

Exclusively Listed By

Listing Price: $4,350,000

Cap Rate
10.95%
Number of Spaces
146
Lot Size
25.00 acres
Occupancy
100.0%
Price/Space
$29,795
Spaces/Acre
5.84
Year Built
1990

Investment Highlights

  • Offered at Day One Cap Rate of 10.95% with Significant Upside in Rent Growth and Additional Sites
  • Park Operates on City Water and Sewer
  • Management Open to Staying for Future Ownership
  • Located Right Next to Major Highway Interstate 20 with 35,000 average vehicles per day

Investment Overview

Tye RV Park is a 126-site RV Park located in Tye, Texas just outside of the city of Abilene with an additional 28 sites currently under construction with expansion land for more. The park is being offered at $4,350,000 for the 118 sites plus an additional $750,000 for the additional 28 sites under construction for a total purchase price of $5,100,000. The park sits on 25 acres of land with asphalt and gravel roads throughout the park. The amenities include laundry, Wi-Fi, two billboards, new bathrooms and showers, a six acre catch and release fishing pond and dog stations. The park operates on city water and sewer and the park pays for the water, sewer and trash utilities and bills back electricity to the tenants. The current management is open to staying on board for the new owners. Tye, Texas and located just next to the city of Abilene which offers both its visitors and residents many local attractions. These attractions include the Abilene Zoo, Adamson-Spalding Storybook Garden, the Dyess Air Force Base, Swenson House Historical Society, many museums, including the Frontier Texas Museum, as well as breweries and wineries. The major employers in the area include Dyess Air Force Base, Hendrick Health System, Abilene Independent School District, Abilene State Supported Living Center, the City of Abilene and the Texas Department of Criminal Justice. These major employers employ thousands of residents per year which creates a need for long term and short-term housing. The asset is located right next to the major highway Interstate 20 which runs right through the city of Abilene. Traffic counts in front of the RV Park are 35,000 vehicles per day according to TxDot Traffic Counter. The park also currently boasts 100 percent occupancy on all available sites. The competing RV parks throughout Abilene boast very high occupancy. Tye RV Park is being offered at a day one capitalization rate of 10.95 percent and pro forma capitalization rate of 13.07 percent (neither the day one cap rate or the pro-forma cap rate include the 28 sites under construction). At the lowest monthly rent in the current monthly range of $425 per month, the additional 28 sites stand to increase the annual rental income by up to $142,800.

Exclusively Listed By

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