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100% Occupied RV Park | 8.2% Cap Rate

5473 Mount Olive Road
Commerce, GA 30529
PRICE : $2,000,000
CAP RATE: 8.2%
PROPERTY TYPE: Multifamily
SITE SIZE: 29.10 Acres
UNITS: 75
YEAR BUILT: 1971

Highlights

  • RV Park with 75 pads (65 with full hook-ups) with consistent 100% occupancy
  • Two parcels totaling ± 29 acres included (±21.8 zoned C2 and ±7.3 zoned HRC)
  • Sites with 30- or 50- amps and city water/sewer
  • Recent completion of $32K in renovations and currently leveling of all sites
  • Updated laundry facility with new equipment
  • Amenities include salt water pool, pavilion, playground, dog park and WI-FI
  • Operating history of nearly 50 years with 2018 projected gross revenue of $372,984
  • Located in Atlanta MSA just 2 miles from I-85
  • Five minutes drive to the Commerce Tanger Outlets and Atlanta Dragway

Description

Bull Realty is pleased to offer for sale this 100% leased Georgia RV Park and adjoining excess expansion land in Commerce, Georgia. The RV Park consists of a Welcome Center with on-site manager's office and upstairs, rental apartment (± 2,435 SF), rental log cabin (± 300 SF), covered pavilion, salt water pool, new laundry facility and 75 active pads (65 with full hook-ups).

The Park, established in 1971, has over $32,000 in renovations completed in 2018 that include new roofs and gutters, updated rental apartment, renovated laundry facilities, leveling of sites and more. The Park offers 30- and 50-amp sites as well as limited tent sites. 94% of guests are daily/weekly and the remaining 6% are monthly.

The Park site is located on a ± 21.8 acre parcel zoned C-2 (General Commercial district). Excess land of ± 7.3 acres in an adjoining parcel, zoned HRC (Highway Retail Commerce) is included. The Park has DOT Interstate (I-85) signage with 5 signs.

Commerce is most noted for an abundance of shopping, including the Tanger Outlets and the Atlanta Dragway which are within three miles from the subject property, bringing RV guests to the area. While it is in the Atlanta MSA, it is only 23 miles from the University of Georgia and close to Lake Lanier.

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