Michigan RV Resort

Incredible Opportunity to Acquire Legacy Asset

264
Total # Sites
 
 
$1,369,624
NOI
 
 
 
 
 
 
264
Total # Sites
 
 
$1,369,624
NOI
 
 
 
 
 
 

Investment Summary

  • Luxury RV resort in a location that simply cannot be beat. Property delivers high-end accommodations and a guest experience that is consistently reflected through strong brand recognition, glowing reviews, repeat stays, quality of structures and attractive amenities.
  • The resort currently has 264 sites and is permitted and approved for up to 308, site and accommodation mix to serve budget-minded newbies up to luxury seeking camping-veterans.
  • Within 10 minutes of the resort are scenic drives, beautiful beaches, charming towns, hiking, biking, paddling, breweries and wineries.
  • The current owners have meticulously maintained the property and invested heavily in infrastructure and site improvements. Highlights include a complete remodel of all bathhouses (2018), construction of a clubhouse-like building in the middle of the resort (2019), complete remodel of pavilion and outdoor gaming area, adding shuffleboard and a dog run (2020), complete pool remodel (2021), new water and electrical hookups at over 100 sites (2022) and upgrading to 1GB dedicated wifi circuit (2022).
  • Due to a diverse demographic mix of guests, and the fact that the property draws from 30+ major metro areas, the park is well positioned to outperform others in periods of economic downturn that are regional or industry specific.

Upside Potential

  • Through rate optimization, revenue management best practices and site expansion, seller believes there is an opportunity for $1.2M in additional revenue.
  • The resort has sufficient acreage for expansion with Utilities and Permitting in place. As part of Buyer’s underwriting, Seller is very happy to discuss this, as well as recommendations for additional accommodations that will impact NOI significantly. Property is being priced on as-is financials, but the impact of this expansion should be a significant component in Buyer’s analysis.
  • Increase RevPAS by converting the rustic camping section into additional RV sites, park models or glamping units.
  • The park is not currently leveraging dynamic pricing. Based on market comps, there appears to be additional elasticity and ability to increase RevPAS through revenue management best practices.
  • We believe this opportunity represents an increasingly rare opportunity to acquire a property of significant caliber with multiple ways for a visionary investor to extract additional value as a true Experiential Hospitality venue. Let's book a Discovery Call and discuss!

    FOR MORE DETAILS CONTACT
    Peter Meyer
    President
    (713) 320-9651
    peter@gcbrokerage.com
    9001219