4700 Ok-78 Milburn, OK 73450
- Mobile home & RV parks
- 9.60 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 4700 Ok-78
- Lot size
- 9.60 lot acres
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This exceptional investment opportunity presents a 9.6-acre RV park in Milburn, Oklahoma, boasting 56 RV pads and four buildings. Currently operating at 22% occupancy (as of February 29, 2024), the park offers substantial value-add potential. The property features a current NOI of $19,965, but a pro-forma NOI of $256,756 projects significant growth. The asking price is $800,000, translating to approximately $14,285.71 per pad. Built in multiple phases with renovations completed in 2006, the park sits on a 9.6-acre lot zoned for rural use. The property includes additional income streams from a house rental and a coin-operated laundry. Located at 4700 OK-78, Milburn, OK 73450, the park benefits from its proximity to Blue River and Tishomingo, Oklahoma, a growing area with tourism potential. The property is classified as Class B and offers a current cap rate of 2.50% and a pro-forma cap rate of 32.09%. This is a prime opportunity for investors seeking a value-add project with strong potential for increased revenue and profitability. The property's location near Tishomingo, known as the Cultural Capital of the Chickasaw Nation, provides access to a growing tourism market. Rental rates for the RV pads reach up to $450 per month. The property's APN is 0000-04S-07E-04-4-003-00. This is a private ownership opportunity.
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
- Milburn
- County
- Johnston
- State
- Oklahoma
- Longitude
- -96.5719
- Latitude
- 34.2378
