41255 Sd-38Mitchell, SD 57301

Property Details for 41255 Sd-38

Year built

1975

Lot size

13.43 AC

Property size (Sq ft)

585,011 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This profitable, well-maintained RV park presents a compelling investment opportunity. Located on approximately 13 acres in Mitchell, South Dakota, this Class B property boasts 80 sites, including full-service, water/electric, and tent sites, plus 5 cabins. Recent renovations (2022 & 2023) enhance the 585,011 square foot campground, which includes a general store offering camping supplies, groceries, and local goods. Additional amenities include a mini-golf course, playground, free WiFi, bike rentals, walking trails, a dog run, and a patio with yard games. The main building houses restrooms with private showers and a coin-operated laundry. Strategically positioned off a major interstate, this campground benefits from its proximity to major Midwest population centers and popular RV destinations, including the Black Hills and Yellowstone National Park. Mitchell itself offers numerous attractions, a strong employment base, and excellent amenities. The property's financial performance is strong, with a current NOI of $241,605 and a pro-forma NOI of $236,734, resulting in a current cap rate of 11.24% and a pro-forma cap rate of 11.01%. The asking price is $2,150,000, representing a price per unit of $26,875 and a price per square foot of $3.68. The property is zoned for commercial use and features three one-story buildings. Built in 1975, this stabilized, cash-flowing asset offers significant potential for future growth.

Location Insight

City

Mitchell

County

Hanson

State

South Dakota

Latitude

43.7012

Longitude

-97.9563

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