RV Park

Advanced RV Resort

2850 S Sam Houston Pkwy E, Houston, TX 77047

Listing Price: $18,900,000

Cap Rate
5.05%
Number of Spaces
233
Lot Size
19.99 acres
Price/Space
$81,116
Spaces/Acre
11.66
Year Built
2008

Investment Overview

Marcus & Millichap is pleased to present Advanced RV Resort, a 233-site, 5-star RV resort in Houston, Texas. Priced at $18,900,000, the resort is being offered at approximately a 5% cap with an estimated Net Operating Income of $955,100.

The Resort boasts a perfect 10/10*/10 Good Sam Rating and is situated on approximately 20 acres yielding an 11.75 site per acre density. There are 233 sites within the park and 2 sites outside of the gates available for overnight campers. The park was built during 2008 in the midst of Hurricane Ike and occupancy numbers grew quickly over the 4 years following construction. The property enjoyed annual and quarterly occupancy over 90% from 2012-2015 and most of 2016. Occupancy remained strong into 2017 and early 2018. Significant freeway construction began mid-2018, and has impacted occupancy as a result. Occupancy numbers still average between approximately 70-80% each quarter with annual averages in the mid-70's for the last 24-months. The freeway construction project is scheduled to finish this year at which point occupancy should resume its upward-trend. There is a slightly cyclical nature to the park with the first and fourth quarters being the strongest.

The Resort is located approximately 11 miles from the Texas Medical Center - the largest Medical facility in the world. It spans approximately 2.1 square miles and provides a healthy stream of guests for the resort. The medical facility employs over 100,000 people, hosts over 10 million patients annually, and has a GDP of $25 billion. At any given time, approximately one-third of the park guests are connected to the Texas Medical Center - most of which have family members being treated. Many of the RV parks in the area cater to this specific demographic as an affordable option to long-term stays at local hotels and have been very successful as a result.

There are currently no homes or rentals owned by the park. Of the 233 sites inside the park, 108 are pull-thru. There are approximately 80 residents in the property that have been there 6 months or more. Good Sam, Texas Association of Campground Owners (TACO), Escapees RV Club members all receive a 10% discount on nightly rates.

Advanced RV Resort is an opportunity for an incoming owner to take over a turnkey asset and continue to drive occupancy once the freeway construction project is completed.

Investment Highlights

  • 233 Site, 5-Star RV Resort in Houston, Texas.
  • All city services, full amenity package.
  • Desirable location - 11 mile from the Texas Medical Center.

Exclusively Listed By

Listing Price: $18,900,000

Cap Rate
5.05%
Number of Spaces
233
Lot Size
19.99 acres
Price/Space
$81,116
Spaces/Acre
11.66
Year Built
2008

Investment Highlights

  • 233 Site, 5-Star RV Resort in Houston, Texas.
  • All city services, full amenity package.
  • Desirable location - 11 mile from the Texas Medical Center.

Investment Overview

Marcus & Millichap is pleased to present Advanced RV Resort, a 233-site, 5-star RV resort in Houston, Texas. Priced at $18,900,000, the resort is being offered at approximately a 5% cap with an estimated Net Operating Income of $955,100.

The Resort boasts a perfect 10/10*/10 Good Sam Rating and is situated on approximately 20 acres yielding an 11.75 site per acre density. There are 233 sites within the park and 2 sites outside of the gates available for overnight campers. The park was built during 2008 in the midst of Hurricane Ike and occupancy numbers grew quickly over the 4 years following construction. The property enjoyed annual and quarterly occupancy over 90% from 2012-2015 and most of 2016. Occupancy remained strong into 2017 and early 2018. Significant freeway construction began mid-2018, and has impacted occupancy as a result. Occupancy numbers still average between approximately 70-80% each quarter with annual averages in the mid-70's for the last 24-months. The freeway construction project is scheduled to finish this year at which point occupancy should resume its upward-trend. There is a slightly cyclical nature to the park with the first and fourth quarters being the strongest.

The Resort is located approximately 11 miles from the Texas Medical Center - the largest Medical facility in the world. It spans approximately 2.1 square miles and provides a healthy stream of guests for the resort. The medical facility employs over 100,000 people, hosts over 10 million patients annually, and has a GDP of $25 billion. At any given time, approximately one-third of the park guests are connected to the Texas Medical Center - most of which have family members being treated. Many of the RV parks in the area cater to this specific demographic as an affordable option to long-term stays at local hotels and have been very successful as a result.

There are currently no homes or rentals owned by the park. Of the 233 sites inside the park, 108 are pull-thru. There are approximately 80 residents in the property that have been there 6 months or more. Good Sam, Texas Association of Campground Owners (TACO), Escapees RV Club members all receive a 10% discount on nightly rates.

Advanced RV Resort is an opportunity for an incoming owner to take over a turnkey asset and continue to drive occupancy once the freeway construction project is completed.

Exclusively Listed By

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