Colliers Manufactured Housing & RV Group, serving as the exclusive agent for the Owner, presents the offering to acquire the Cedar Cove Resort, a 173-total site long-term seasonal RV resort located on Cherokee Lake in Mooresburg, Tennessee. Positioned on the US-11W corridor roughly one hour northeast of Knoxville.

Almost all sites are leased on annual agreements to tenants who own their RVs and park models, and have made many site upgrades including skirting. There are no park-owned units, no nightly rentals, and none of the turnover or operating intensity of a transient campground. The result is a durable, twelve-month income stream, similar to a mobile home park.

The seller has been steadily advancing rents, demonstrating both the depth of demand for lakefront living in East Tennessee and the pricing power of the resort.

With stabilized occupancy, in-place professional management, and contractual annual leases, Cedar Cove offers new ownership day-one cash flow with clearly identified paths to grow: including adding storage, covering the remaining uncovered sites, adding new docks, opening up more year round sites, growing rents, etc.

The resort is offered at $7,600,000 ($43,931/site).

This represents an 8.0% Year 1 Cap Rate.

https://www.crexi.com/properties/2648949/tennessee-cedar-cove-mhrv-resort