This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Red Bay Rv Park 820 4th ave SW Ave

34 Unit Mobile Home Park $705,000 ($20,735/Unit) 14.18% Cap Rate Red Bay, AL 35582

Executive Summary

This is a 34 lot rv park. One park is 24 lots (2 acres) and the other park is 10 lots (1 acre approximately) located at 717 4th St West, Red Bay. They are only a few minutes from each other. Room to add more 5-10 more sites possible and opportunity to buy more land next door. City sewer and city water at both parks. 6 inch sewer lines and all electric wiring is a size bigger than required. Room to increase the lot rent. The park was built by the owner and he self manages it with no employees. The park is set up to be self service and by adding some technology to the system could be even more efficient. Adding a few amenities to the park could increase the cash flow some as well. There is a park that is close by that charges $80 a night and he only charges $20 a night so there is room to increase the income there as well. Owner would consider selling just the larger park for 600k. (From owner) Both parks are first come first serve. They go by the honor system. Both parks are ran the same way, one is not an overflow. Rates are $25 a night or $140 a week, currently do not do long-term, but we do have people that come through and stay with us for maybe two months or more at a time while they are having work done to their motorhomes, or we have had people come through that are working on the highways or local jobs that would stay for several months, but we do not do monthly rates, it is still weekly rates. We do not let people set up long-term and live there. We do not do reservations but we tell people if they will call us a day ahead of time that we will try to save them a site and we have a lot of regular customers that have stayed with us for years and some of them will call us a day ahead of time but pretty much it's first come first serve with drop boxes at both parks. We have envelopes at both parks that pretty much explain to the customer what the rules are. We try to make it as easy as possible because when we first started the parks I worked off and my wife worked so we didn't have time to do reservations, but this has worked well for us and our customers. When a customer gets a site, we let them keep it as long as they need it because it usually takes longer than they think to get their work done so we do not make people leave and people are just in an out all the time. We do cash or checks. We do not do credit cards or payment over the internet or phone. We just never set this up. They don't mind doing cash or check. We have not went up on our prices for several years because we make a very good profit at the price that it is,but if you wanted to go up you could because I think we're the lowest price in the area.
The City of Red Bay is one of the most industrious communities per capita in the state of Alabama and features a variety of industry types. With a Large Tifton Motorhomes Plant and service center in town this brings a lot of business to the park. City also has Sunshine Mills and the Gates Corporation.

Property Facts

Price $705,000
Price Per Unit $20,735
Sale Type Investment
Cap Rate 14.18%
No. Units 34
Property Type Multifamily
Property Subtype Manufactured Housing/Mobile Home
Lot Size 2.00 AC
Building Size 1,000 SF
No. Stories 1
Year Built/Renovated 2012/2023
Cross Streets Tammy Wynette Hwy

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
07-04-19-0-000-173.004-0
Land Assessment
$2,520
Improvements Assessment
$0
Total Assessment
$2,520
  • Listing ID: 31058734

  • Date on Market: 2/27/2024

  • Last Updated:

  • Address: 820 4th ave SW Ave, Red Bay, AL 35582

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}