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Opportunity Zone

Emporia / I-95 KOA Holiday

76-Site Campground Community with Expansion Potential

Listing Contacts

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Active

Asking Price:Unpriced

Deal terms are not currently defined. Request your own specific terms when submitting a non-binding offer.

Address 

2940 Sussex Dr, Emporia, VA 23847

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Date Added
Oct 23, 2024
Days on Market
186 days
Time Since Last Update
69 days

Details

Property TypeMobile Home Park
ClassB
Units76
Pads76

Marketing Description

*PLEASE DO NOT CONTACT PARK OR SHOW UP UNANNOUNCED, CONTACT THE BROKER.​

BWE Investment Sales LLC (BWE) is pleased to offer the opportunity to acquire Emporia / I-95 KOA Holiday.​ Emporia / I-95 KOA Holiday is a 76-site campground community located in Emporia, Virginia with expansion potential to increase site count to 116.​

Emporia / I-95 KOA Holiday is conveniently located along Interstate 95, providing easy access to larger nearby cities like Richmond, VA to the north and Raleigh, NC to the south.​ Its location along I-95 results in strong occupancy from campers heading along the East Coast’s major North-South arterial interstate.​ 

A new owner has several opportunities with the purchase of this deal, including adding additional lots, converting current sites to premium sites, and adding manufactured homes for permanent residents.​ There are currently 12-15 storage sites that can be easily converted to “premium” sites on the campground’s current footprint.​ There are also 18 decommissioned manufactured home sites on the North/West end of the property that are all vacant and can be recommissioned for new homes.​ The vacant manufactured homes have been removed.​ The North/West side of the property could also be expanded to add additional MH sites or accommodate up to 40 RV sites.​ The owners have reserved county sewer capacity to accommodate 40 additional sites.​ 

Investment Highlights

Decrease in Operating Costs

  • There is the opportunity for owner-operator to self-manage and cut operating expenses dramatically.

Expansion Opportunity

  • There are 40 additional sites on the north side of the property. This allows for an expansion that could add additional MH sites or accommodate up to 40 RV sites. This area used to have manufactured homes and the owner has removed them. The current zoning allows for the MH expansion by-right, but the county has expressed support if the expansion sites were to be converted to additional RV sites.

Value Add Opportunity

  • There are approximately 15 sites in the existing park that can be further developed or converted into premium Patio and Paw-Pen sites.

Sewer

  • The current owners have begun the process of converting to county sewer and have reserved enough capacity to handle the additional 40 sites. They have overhauled the existing septic system within the last 18 months.

Convenient Location

  • The community’s close proximity to I-95 results in strong occupancy, especially with premium Paw-Pen and Patio sites.

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Due Diligence

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Listing Contacts

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