12262 26F St Watford City, ND 58854
- Mobile home & RV parks
- 4.99 lot acres
Current Use by Public Records
- Black Gold Cabins / Motel
Property Details for 12262 26F St
- Lot size
- 4.99 lot acres
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This exceptional investment opportunity presents a 31-unit RV park situated on 4.99 acres in Watford City, North Dakota. Currently operating at 100% occupancy, the property boasts a strong NOI of $233,414 and a compelling 12.62% capitalization rate. Priced at $1,850,000 ($59,677.42 per unit), this value-add multifamily investment benefits from a local manager, minimizing operational demands. The property features a well water system, including a 2,500-gallon holding tank to ensure consistent water supply even during peak usage. Watford City's robust economic growth, fueled by its position in McKenzie County – a top oil-producing region – presents significant long-term potential. Recent developments, including a new hospital and schools, underscore the area's stability and future prospects. McKenzie County's impressive economic indicators, including the highest real GDP growth among all 50 states in Q1 2023 and a 11% annualized personal income increase, further solidify this investment's attractiveness. The property's zoning presents a significant barrier to entry for new competitors, enhancing its market position. This turnkey operation offers a compelling blend of immediate income and substantial future growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Watford City
- County
- McKenzie
- State
- North Dakota
- Longitude
- -103.21
- Latitude
- 47.7932
