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    16022 Cumberland Cove Rd Madill, OK 73446
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    Property profile & analytics

    16022 Cumberland Cove Rd Madill, OK 73446

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    • Mobile home & RV parks
    • 110.30 lot acres
    Off-Market
    Property ID
    US69-0868387
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mobile home & RV parks

    Property Details for 16022 Cumberland Cove Rd

    Year built
    1970
    Lot size
    110.30 lot acres
    Property type
    Mobile home & RV parks
    Property subtype
    Campgrounds

    Description

    This 41-unit RV park, situated on 110.3 acres with over a mile of Lake Texoma shoreline in Madill, Oklahoma, presents a compelling value-add investment opportunity. Built in the 1970s, the property is currently operating under a membership model, offering significant upside potential for a new owner. The asking price is $400,000. The property benefits from its location between Oklahoma City and Dallas/Fort Worth, attracting seasonal visitors. A ground lease with the Army Corps of Engineers is in place, expiring December 31, 2052, with a potential 20-year extension. The property is not currently zoned. The current management is in place and ready to transition to a traditional RV park model, allowing for revenue growth through increased occupancy rates (targeting 30-40%), higher nightly rates ($45+), optimized site mix (transient/extended-stay), and the addition of amenities such as cabins/motels, a camp store, upgraded Wi-Fi/cable, and potential marina expansion. The existing membership obligations remain with the seller. This presents a chance to acquire an underperforming asset at a price significantly below replacement cost and achieve high double-digit unlevered yield through stabilization and operational improvements. The property's prime location on a major lake, coupled with its proximity to two large metropolitan areas, ensures strong demand.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Madill
    County
    Marshall
    State
    Oklahoma
    Longitude
    -96.5841988
    Latitude
    34.0565887

    Comparable in this City

    • $277,620

      Land Near Oakland with Pond

      20-acre land parcel with sandy soil and pond.
      15962 Highway 70 W, Madill, OK 73446
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    • $807,500
      95.00 Acres

      Oklahoma Land with Highway Frontage

      95-acre property near Lake Texoma with recreational and investment potential.
      24487 Highway 70 W, Madill, OK 73446
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    • $229,000

      Commercial Land on Hwy 70

      Commercial land with frontage on Hwy 70 in Madill, OK.
      700 N 1St St N, Madill, OK 73446
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    • $1,121,000
      Pending

      190 Acres of Hunting Land

      190 acres of pasture and timber, ideal for hunting.
      Dancing Rabbit Rd, Madill, OK 73446
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    • $150,000
      Pending

      10 Acres of Open Pasture

      10 acres in Madill, OK, near Lake Texoma.
      15535 Coleman Rd, Madill, OK 73446
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    • $476,000
      28.00 Acres

      Land Near Walmart in Madill

      28 acres of land suitable for residential or commercial development.
      Smiley Rd, Madill, OK 73446
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    Similar Nearby for Sale

    • $277,620

      Land Near Oakland with Pond

      20-acre land parcel with sandy soil and pond.
      15962 Highway 70 W, Madill, OK 73446
      View Details
    • $807,500
      95.00 Acres

      Oklahoma Land with Highway Frontage

      95-acre property near Lake Texoma with recreational and investment potential.
      24487 Highway 70 W, Madill, OK 73446
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    • $750,000
      1,500 SF

      High-Visibility Madill Business Opportunity

      Prime Hwy 70 location, 2.9 acres, 1500 sq ft.
      12053 Highway 70, Madill, OK 73446
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    • $450,000

      Land with Home and Utilities

      40 acres with utilities, structure, and manufactured home.
      17122 Sumac Rd, Madill, OK 73446
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    • $277,620

      Land on Highway 70 Corner

      Corner lot on Highway 70, west of Madill.
      15962 Highway 70 W, Madill, OK 73446
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    • Contact for pricing
      1 SF

      Commercial Land on S 1st

      1.14 AC commercial land with frontage on S 1st.
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    Madill, OK 73446
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    16022 Cumberland Cove Rd, Madill, OK, 73446
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