2335 Broadway St Truth or Consequences, NM 87901
- Mobile home & RV parks
Current Use by Public Records
- Mobile home & RV parks
Property Details for 2335 Broadway St
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
Exceptional investment opportunity: a 24-space RV park in Truth or Consequences, New Mexico, priced at $625,000. This Class B property boasts a current NOI of $48,643 and a pro-forma NOI of $60,113, representing a 7.78% cap rate and a pro-forma cap rate of 9.62%. The park features 24 pads, each valued at approximately $26,042. Located at 2335 S Broadway St, Truth or Consequences, NM 87901, this property benefits from its proximity to local amenities and attractions, including hot springs and Elephant Butte Lake, supporting year-round occupancy. The property includes a 30x40 foot shop building with potential for additional income streams through rental, a laundry facility, or other value-added services. The current vacancy rate presents an opportunity to increase profitability. An assumable loan with a 5% interest rate and a 13-year term, with a monthly payment under $1300 and approximately $145,000 remaining balance, is available. This property is situated in an Opportunity Zone. Serious inquiries only.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Truth or Consequences
- County
- Sierra
- State
- New Mexico
- Longitude
- -107.279
- Latitude
- 33.123
