Current Use by Public Records
- Mobile home & RV parks
Property Details for 18957 Hwy 69
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This exceptional 17-unit RV park in Lindale, Texas, presents a compelling investment opportunity. Situated on 16 acres with 550 feet of road frontage on Hwy 69, this Class B property boasts 100% occupancy and a current NOI of $43,304, yielding a 4.81% cap rate. The pro-forma NOI is projected at $72,104, representing an 8.01% cap rate. Lot rents haven't been raised in over 10 years, presenting significant upside potential for increased revenue. Each unit commands a price of $52,941.18. The property features two water wells and individual septic tanks for each unit, minimizing operational expenses. Electricity is also separately metered. Conveniently located just 0.5 miles south of Loop 49, this RV park benefits from easy access to major transportation routes, making it highly attractive to tenants. Located within the Lindale ISD, this property offers substantial growth opportunities for a savvy investor. The asking price is $900,000. The mobile homes on the property are tenant-owned. The property generates a gross monthly income of $4,400.
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
- Lindale
- County
- Smith
- State
- Texas
- Longitude
- -95.4208
- Latitude
- 32.5424
