Current Use by Public Records
- Mobile home & RV parks
Property Details for 1359 Us-80
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This fee-simple owned RV park in Mineola, Texas, presents a compelling value-add investment opportunity. Located at 1359 US-80, the property boasts 49 pads across 267,484 square feet, currently operating at 70% occupancy. The park offers a mix of daily, weekly, and monthly rentals, with 95% of tenants on long-term monthly leases, providing stable cash flow. The current Net Operating Income (NOI) is $87,651, with projections indicating a significant increase to $122,709 in the coming year. This translates to a 7.30% cap rate and a price per pad of $24,489.80, based on the asking price of $1,200,000. The park's strategic location along US Highway 80 provides convenient access to regional attractions, including Lake Fork and the Mineola Nature Preserve. Utilities are included in rental rates, with electricity billed back to tenants. The current rate structure offers significant potential for revenue optimization through increased occupancy (projected to reach 75%) and strategic rate adjustments. The property's strong performance and growth potential make it an attractive investment in the thriving East Texas market. The APN is 0 0 0 0 0 2 - 0 0 0 2 4 7. The property is a one-story structure.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Mineola
- County
- Wood
- State
- Texas
- Longitude
- -95.462
- Latitude
- 32.6568
