Current Use by Public Records
- Mobile home & RV parks
Property Details for 1018 Co Rd
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This exceptional investment opportunity presents Rainbow Village, a thriving RV park in Rainbow, Texas. Located at 1018 Co Rd 303, Somervell County, this property boasts 37 units, including 28 RV pads offering a mix of 30 AMP and 50 AMP service, many with covered spaces, and six charming cabins providing diverse accommodation options. The park enjoys a remarkable 99% occupancy rate, generating a strong NOI of $56,359 and a 3.22% cap rate, with an asking price of $1,750,000 ($47,297.30 per unit). Rainbow Village benefits from a prime location near Glen Rose, attracting both tourists and long-term residents, ensuring consistent year-round cash flow. On-site amenities include a central office, laundry facilities, and well-maintained common areas. A unique additional revenue stream is generated by a twice-yearly firework stand. This established business offers a stable cash flow with significant potential for growth through expansion or the addition of new amenities. The property includes six buildings and one parking space. This turnkey operation presents a compelling investment opportunity in a desirable Texas location.
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
- Rainbow
- County
- Somervell
- State
- Texas
- Longitude
- -97.7137
- Latitude
- 32.2595
