Mobile Home Park Details

  • Cap Rate: 9.5%
  • Property ID: 1586380
  • Posted On: Jan 14, 2022
  • Updated On: Jul 24, 2022

Property Description

https://estersonmhcteam.​com/property/quinebaug-cove-campground

Quinebaug Cove Campground, a 165-site lakefront campground and RV park located in Brimfield, MA.​ Strategically built between two of MA’s strongest and populous growth markets [Springfield & Boston], the campground sits at the heart of a 420-acre Reservoir on East Brimfield Lake.​ The scenery at Quinebaug Cove is very similar to the rest of southern Massachusetts with beautiful rolling hills, heavily forested areas, and a diverse selection of wildlife in and around the lake.​ Not only is the Campground in a prime location, but it provides guests with best-in-class outdoor recreation.​ Amenities and activities include: a 60ft in-ground pool, winter camper storage, full laundry facilities, playground, shuffleboard, volleyball court, basketball court, a beach with BBQ grills, and FREE Cable TV & WI-FI in the recreation hall.​
Quinebaug Cove is quickly becoming a staple in the surrounding communities and consists of 165 total rentable units [163 RV sites & 2 cabins].​ The Campground is on private sewer and water, both of which are being paid for by the park.​ Trash and cable are also paid for by the park, while electricity is sub-metered and billed back to tenants.​
Despite the Campground having been established in 1990, Quinebaug Cove has only been open to the public for the past 2 seasons.​ In that time, the current owner has spent $1M+ in capex remodeling the park, as well as upgrading the electrical and sanitation systems.​ Now ALL SITES have new electric, water and cable, and the Campground boasts a 100% occupancy rate with a waiting list.​ An investor can achieve easy and immediate upside by billing tenants back for utilities and raising seasonal site rental rates, which are currently well below market at $2,500 per season.​
Quinebaug Cove Campground is being offered as a stabilized investment with minimal capex requirements and massive upside in rental rates.​ At $2,675,000, this asset is being offer at a 9.5% cap rate on entry and seller-financing is available.​

Amenities

  • Pool
  • Club House
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Park Information

Community Type: All Age
Number of MH Lots: 165
Average MH Lot Rent: $219
Size: 41 acre(s)

Financial Information (Actual)

Gross Income $519,225
Net Operating Income $253,303
Debt Info

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

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