5706 Coleman Way Von Ormy, TX 78073-3115

Exceptional investment opportunity: a 238-acre RV park and mobile home development in Von Ormy, Texas, boasting a 9% cap rate and $262,400 NOI. This Class B property, built in 1973 and renovated in 2023, features 950 units across 10,165 pads, currently operating at 89% occupancy. The park includes four buildings, a manager's home, and a cabin, offering a mix of full hookup RV spaces, tent sites, and various RV storage options. Located just 13 miles from downtown San Antonio and 1.5 miles from I-35, this property benefits from its proximity to major employers and the city's strong RV market. The property is zoned for MH/RV and entertainment districts, and includes a shovel-ready expansion plan for an additional 150 RV or mobile home sites, with entitlements for a further 800 sites. This significant expansion potential, combined with the existing income stream and location within an Opportunity Zone, presents a compelling value-add opportunity. The asking price is $10,490,000, or $10,164.73 per pad. Current rental rates are mid-range for the local market, with potential for increases through further amenity development. The property's existing infrastructure includes city utilities, and complete permits and plans are in place for Phase 1 expansion. The potential for long-term growth and profitability is substantial, making this a rare and attractive investment.