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.
