Bought with Melissa Kergosien
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Key Details
Sold Price $4,800,000
Property Type Commercial
Sub Type Investment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OKC998624
Sold Date 08/03/22
Construction Status Log,Manufactured
Year Built 2016
Annual Tax Amount $7,037
Acres 4.5
Property Sub-Type Investment
Property Description
Great investment opportunity: Priced for a solid 8% cap rate based on historical and projected net income. Tiny Town Ok Cabins and RV Park. This property is 4.5 acres with 341' of US Highway 259 frontage, 18 tiny cabin rentals (RV park models) of various size and layout (with a 19th available for purchase), 21 full hook-up RV spaces of various size, laundry facility with 3 sets of commercial washers and dryers, and 3 more sets of commercial token washers and dryers, token machine, bathhouse with 3 full baths with showers, vending machine, swing set, and storage shed. This property has a solid historical record of success that services the STR market. The park was built in 2016 and has steadily expanded with many additions only 1 year old. There is room for growth with cabins on-site, currently not generating income yet.
Location
State OK
County Mccurtain
Zoning None
Interior
Fireplace N
Exterior
Parking Features Gravel, RV Parking
Garage Description Gravel, RV Parking
Building
Sewer Septic Tank
Water Rural
Structure Type Log,Manufactured
Construction Status Log,Manufactured
Others
Acceptable Financing As is Condition
Listing Terms As is Condition
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