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RV Park

Vernon RV Park

1400 Commerce St, Vernon, TX 76384

Listing Price: $950,000

Cap Rate
12.27%
Number of Spaces
75
Lot Size
10.72 acres
Occupancy
52.0%
Price/Space
$12,667
Spaces/Acre
7.00
Year Built
1990

Investment Overview

Vernon RV Park is a 75-site RV community located in Vernon, Texas. The community sits on over 10 acres in an opportunity zone. Amenities include bathrooms, showers, laundry, basketball court, horseshoes and mailboxes. All utilities are currently paid by the property, and it operates on city water and sewer. The current management is wanting to stay for future ownership. Most of the guests book online through Campspot which is easily transferrable to the new owner and very user friendly. Vernon is located west of Wichita Falls, Texas. It offers its residents and visitors many attractions including Red River Valley Museum, Fort Belknap, Museum of Western Prairie, and Copper Breaks State Park. The city of Vernon is 30 miles from the Texas/Oklahoma border. There are many nearby colleges that include Vernon College, Western Oklahoma State College, Cameron University, and Midwestern State University. The major businesses in Vernon include two Tyson Foods bacon processing plants, the North Texas State Hospital main campus, Vernon College, Wilbarger General Hospital, and Vernon ISD. There are many large work projects that bring in out of town workers such as the Oklaunion Power Plant conversion, numerous wind turbine farms, and Waggoner Ranch which is the largest ranch within one fence in the United States. This makes Vernon RV Park an ideal place for out of town workers to stay. Vernon RV Park is located less than ten minutes from a Walmart Supercenter. It is near the major highways US Highway 287, 283, 183 and 70 that all pass through the city. There is an opportunity for expansion on 2.5 undeveloped acres by adding more RV sites and increasing revenue at the community. Vernon RV Park is being offered at a day one capitalization rate of 12.27 percent and a pro forma capitalization rate of 15.67 percent.

Investment Highlights

  • 12.27% Day One Cap Rate
  • City Water and Sewer
  • Located in an Opportunity Zone
  • Opportunity for Expansion on 2.5 Undeveloped Acres
  • Management Open to Staying Onboard

Exclusively Listed By

RV Park

Vernon RV Park

Listing Price: $950,000

Cap Rate
12.27%
Number of Spaces
75
Lot Size
10.72 acres
Occupancy
52.0%
Price/Space
$12,667
Spaces/Acre
7.00
Year Built
1990

Investment Highlights

  • 12.27% Day One Cap Rate
  • City Water and Sewer
  • Located in an Opportunity Zone
  • Opportunity for Expansion on 2.5 Undeveloped Acres
  • Management Open to Staying Onboard

Investment Overview

Vernon RV Park is a 75-site RV community located in Vernon, Texas. The community sits on over 10 acres in an opportunity zone. Amenities include bathrooms, showers, laundry, basketball court, horseshoes and mailboxes. All utilities are currently paid by the property, and it operates on city water and sewer. The current management is wanting to stay for future ownership. Most of the guests book online through Campspot which is easily transferrable to the new owner and very user friendly. Vernon is located west of Wichita Falls, Texas. It offers its residents and visitors many attractions including Red River Valley Museum, Fort Belknap, Museum of Western Prairie, and Copper Breaks State Park. The city of Vernon is 30 miles from the Texas/Oklahoma border. There are many nearby colleges that include Vernon College, Western Oklahoma State College, Cameron University, and Midwestern State University. The major businesses in Vernon include two Tyson Foods bacon processing plants, the North Texas State Hospital main campus, Vernon College, Wilbarger General Hospital, and Vernon ISD. There are many large work projects that bring in out of town workers such as the Oklaunion Power Plant conversion, numerous wind turbine farms, and Waggoner Ranch which is the largest ranch within one fence in the United States. This makes Vernon RV Park an ideal place for out of town workers to stay. Vernon RV Park is located less than ten minutes from a Walmart Supercenter. It is near the major highways US Highway 287, 283, 183 and 70 that all pass through the city. There is an opportunity for expansion on 2.5 undeveloped acres by adding more RV sites and increasing revenue at the community. Vernon RV Park is being offered at a day one capitalization rate of 12.27 percent and a pro forma capitalization rate of 15.67 percent.

Exclusively Listed By

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