Current Use by Public Records
- Mobile home & RV parks
Property Details for 41255 Sd-38
- Year built
- 1975
- Lot size
- 13.43 lot acres
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mitchell
- County
- Hanson
- State
- South Dakota
- Longitude
- -97.9563
- Latitude
- 43.7012
