Current Use by Public Records
- Specialty properties
Property Details for 319 T B Stanley Hwy
- Lot size
- 75.00 lot acres
- Property type
- Specialty properties
- Property subtype
- Telecom centers
Description
This exceptional investment opportunity presents a thriving 122-site RV park situated on 75 acres in Bassett, Virginia's scenic Smith River valley. Boasting a strong 8% cap rate based on a trailing twelve-month NOI of $350,000, this property offers significant upside potential. The park features 5,000 square feet of general store space (with a liquor license), a 1,200 square foot bathhouse with laundry facilities, a covered picnic shelter, fenced dog park, river access, playground, and propane refilling station. All 122 pull-through sites are designed for RVs 35 feet and longer, and are serviced by county water and sewer, and underground electric. Further expansion is readily achievable with 69 additional sites already approved on an adjacent 50-acre tract. The property enjoys over 700 feet of frontage on TB Stanley Highway, providing excellent visibility and access. Its strategic location between Roanoke, Greensboro, and Winston-Salem offers a large potential customer base. The park's proximity to popular attractions such as Martinsville Speedway, Philpott Dam, and Fairy Stone State Park further enhances its appeal. Construction commenced in 2020, resulting in a well-maintained and newly constructed facility. Year-over-year growth has averaged 16%, indicating a strong trajectory for continued success. This property represents a compelling investment opportunity with substantial growth potential.
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
- Bassett
- County
- Henry
- State
- Virginia
- Longitude
- -79.9576
- Latitude
- 36.736
