Current Use by Public Records
- Redstone RV Park (Formerly Mountain Breeze) / Campground & RV Park
Property Details for 3829 Highway 231
- Lot size
- 5.00 lot acres
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This exceptional 42-unit RV park in Laceys Spring, Alabama, presents a compelling value-add investment opportunity. Situated on 5 acres at 3829 Hwy 231, this Class C property boasts a current NOI of $69,209 and a pro-forma NOI of $100,242, yielding a 6.29% cap rate. Currently operating at 50% occupancy, the park offers significant upside potential through operational improvements and increased rental rates. Each of the 42 pads features full hookups (50-amp electricity, water, and sewer) with no utility maximums, ensuring tenant satisfaction. The park benefits from a prime location near Redstone Arsenal, NASA's Marshall Space Flight Center, and Huntsville Hospital, attracting a steady stream of traveling workers and retirees. The straightforward rent structure of $150 per week ($600 per month) provides consistent cash flow. Convenient access to Highway 231 ensures easy accessibility to Huntsville and surrounding areas, while proximity to Monte Sano State Park and Guntersville State Park enhances the property's appeal. Owner financing is available. The property is zoned GC and has an APN of 09-07-25-0-004-009.001. The asking price is $1,100,000, representing a price per unit of $26,190.48. This property offers significant growth potential within Huntsville's expanding metro area.
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
- Laceys Spring
- County
- Morgan
- State
- Alabama
- Longitude
- -86.5791
- Latitude
- 34.483
