Leisure Lakes RV Park - 58 pads - Expansion Opportunity

Multi-Family for Sale
Catylist Listing ID: 30722000
Property Subtypes: Mobile Home Park, Other
Number of Units: See Agent
Building Size (RSF): 1,234 SF
Gross Building Area: See Agent
Gross Land Area: 23.39 Acres
Sale Price: $2,800,000
Property Use Type: Investment, Business
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 7.8%
Last Updated: 6/7/2021

Overview / Comments

See Drone Video of RV Park and surrounding area
. Fifty eight (58) pad RV Park with Tremendous Growth Potential!! LOCATION-LOCATION!! Situated in the rapidly growing Beulah area along Nine Mile Rd (Alt US Hwy 90), 2.5 miles from I-10 exit 5, one mile from the Navy Federal Credit Union Complex (with over 8,000 employees), 1/2 mile from the Escambia County newly acquired ~635 acre parcel to be developed (previously Navy Outlying Field Site-8) and .3 miles from the new Publix on Beulah Rd. In addition to the 58 RV pads there is a 2 BR/1BA home (rented), on-site coin laundry, double-wide mobile home currently used as the park office. There is an additional ~2.5 acre site currently being used as storage area but owners have plans for 40 additional RV pads. 54 RV pads plus the home are long term rentals and 4 RV pads are short term/weekly rentals. Rents have not been increased for a couple years–-a $50 per pad increase would push the cap rate to over 9%. Income can also be increased by shifting pads from long term rental rates to short term/weekly rentals.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 081S312101000000
Zoning: COMMERCIAL
Community Amenities: Play Ground
Property Located Between: Navy Federal Credit Union Call Center and Beulah Rd
Highway Access: Interstate 10 (2.5 mi); US Hwy Alt 90 (W. Nine Mile Rd) frontage
Airports: Pensacola International Airport
Water Service: Municipal
Sewer Type: Municipal, None
Land Ownership: Owned
Legal Description: THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SECTION 8, TOWNSHIP 1 SOUTH, RANGE 31 WEST OR 7498 P 971 OR 7974 P 1534 LESS W NINE MILE RD R/W LESS COMMENCE AT THE NORTHEAST CORNER OF SECTION 8, TOWNSHIP 1 SOUTH, RANGE 31 WEST, ESCAMBIA COUNTY, FLORIDA; THENCE SOUTH 00 DEGREES 11 MINUTES 25 SECONDS WEST ALONG THE EAST LINE OF SAID SECTION FOR A DISTANCE OF 89.95 FEET TO THE INTERSECTION WITH THE SOUTH RIGHT-OF-WAY LINE OF 9 MILE ROAD (US HWY. 90 A, STATE ROAD 10, 200 FOOT RIGHT-OF-WAY); THENCE DEPARTING SAID EAST LINE SOUTH 89 DEGREES 50 MINUTES 09 SECONDS WEST ALONG SAID SOUTH RIGHT-OF-WAY A DISTANCE OF 2653.58 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE SOUTH 89 DEGREES 50 MINUTES 09 SECONDS WEST ALONG SAID RIGHT-OF-WAY A DISTANCE OF 290.00 FEET; THENCE DEPART SAID SOUTH RIGHT-OF-WAY SOUTH 02 DEGREES 16 MINUTES 57 SECONDS EAST A DISTANCE OF 637.28 FEET; THENCE SOUTH 28 DEGREES 05 MINUTES 54 SECONDS EAST A DISTANCE OF 224.28 FEET; THENCE NORTH 89 DEGREES 50 MINUTES 16 SECONDS EAST A DISTANCE OF 157.50 FEET; THENCE NORTH 00 DEGREES 06 MINUTES 07 SECONDS EAST A DISTANCE OF 835.00 FEET TO THE AFORESAID SOUTH RIGHT-OF-WAY LINE AND POB LESS OR 7507 P 1124 STATE OF FL

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,246 13,410 39,465
Median Age: 40.37 40.75 41
Households: 1,208 4,994 15,213

Contact

Photograph of Listing Agent

Pete Morgan

Service Matters Realty, Inc.
Gulf Coast CMLS Member
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