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North Bay Shore Campground - Virginia Beach, VA

Waterfront RV Campground | 110 Units | 50+ Acres

Listing Contacts

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Active

Asking Price: $6,000,000
Listing Broker NameScott Reid
Address 

3257 Colechester Road, Virginia Beach, VA 23456

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Date Added
Oct 25, 2023
Days on Market
507 days
Time Since Last Update
24 days

Details

Property TypeMultifamily
SubtypeRV Park
Investment TypeValue Add
ClassB
Square Footage1,088
Price/Sq Ft$5,514.71
Cap Rate5.09%
NOI$305,186
Units110
Year Built1980
Year Renovated2023
Lot Size (acres)50.89
Price/Unit$54,545.45
Ground LeaseNo

Marketing Description

Sands Investment Group is Pleased to Present Exclusively For Sale the 50.89 Acres North Bay Shore Campground Located at 3257 Colechester Road in Virginia Beach, Virginia.​ This is a One-of-a-Kind Waterfront RV Campground in a Highly Desirable Area.​ The Property is Surrounded on the Waterfront Side By Wildlife Refuge That Can't Be Developed to Help Preserve the Unique Tranquility of the Park, Providing For a Secured Investment.​

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Investment Highlights

  • One-of-a-Kind Waterfront RV Campground in a Highly Desirable Area; This Property is Surrounded on the Waterfront Side by Wildlife Refuge That Can't be Developed to Help Preserve the Unique Tranquility of the Park

  • Expansion Opportunities Grandfathered in to Expand the Size of the Park on Its 50+ Acres of Waterfront Property

  • Minutes From the Atlantic Ocean Beaches by Boat or Vehicle and Minutes to Dock and Dine Restaurant by Boat

  • Amenities Include: Boat Ramp Onsite, Dockage Available, Pool, Game Room, Sports Courts, Playground, Bathhouse, Kayak & Canoe Rentals and Pavilion

  • Multiple Additional Revenue Streams to Include: Park Store Selling Supplies, Ice, Refreshments, Firewood and Bait, Boat & RV Storage, Boat Ramp Fees and RV Pump Out Trailers Onsite

  • Multiple Value-Add Plays to Include: Bringing Park up to 200 Total Approved Sites, Many of Which Could Be Waterfront; Sites Could Either Be Developed as RV or Tent Camp Sites to Keep Costs Down or Adding to the Boat and RV Storage

  • Park Often Fills Up With Local Travelers on the Weekends

  • Workshop and Maintenance Pole Barn With Tractor and Equipment Onsite

  • 110 Total Sites to Include: 6 Cabin, 10 Tent Sites and 94 RV

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$305,186.00
$25,432.17/mo

Valuation Metrics

0
DSCR
5.09%
Cap Rate
5.09%
ROI
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Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts

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Broker Name
Scott Reid
Broker License
VA #226032019
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